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Posted in Paying Your Bills
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Question By
RL773

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0 People Helped
19 years old credit cards maxed 500 each, 2,400$ loan worth taking and paying off everything?
I work full time will be able to pay, would just like to make it simpler with just one payment and advice?

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Top Contributor
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It really doesn't make sense to take out a loan you will bepaying interest on from the outset.  Best to try for a consolidation card that has 0% interest for more than 12 months.  If denied that, just send as much as possible to credit cards every month to get them  paid faster and strive to pay in full every month.  The debt repayment plan on Dave Ramsey's site  is very sensible.

Top Contributor
7816 Contributions
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If your cards are maxed, your credit scores are suffering and that may make it impossible for you to get a loan. Lock these cards away so you stop using them, cut them up or whatever you need to do. Try to get some extra hours at work, sell things you don't need, get a second job if needed, set a strict budget for yourself and you will be able to get these accounts paid off sooner than later. I completely understand that at 19 there are always things to do and it requires money, but trust me, buckle down now at least for a while and your future self will really thank you.

Reply by
RL773

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So you dont think i should take out this loan, pay everything and cut my cards... I realized that and now i just want a little new start I think it will be more organized and i will try to pay the small loan in a few months..

Reply by
RL773

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0 People Helped

I am already "pre-qualified" for it btw.. Thank you!

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