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CreditCardFools

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$38,000 credit card debt
My wife and I racked up some serious credit card debt during college and soon after when we built our home. We both have fair credit now but its declining due to cards that are maxed out and high interest that is not reducing the balance because of minimum payments being made. Somewhere between 670-710 credit scores. Is there a good consolidation loan with resonable interest so we can put this in terms and behind us once and for all?!?!? Any help would be much appreciated at this point!

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You should talk to a loan officer at your bank or credit union and see what kind of terms they offer you.  Your score isn't that bad, so it should be doable.  Just remember not to close the cards you pay off, but use them for something small once a year to keep them alive.  If you close them your score will plummet.  If you're worried about racking them up again, then freeze them in a block of ice so it will take forever to thaw out and will prevent impulse spending.  (Don't try to thaw them in the oven or microwave or they'll be ruined.)  Best of luck!

Reply by
warrior88

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I have the same issue but my debt is around $26K and I know for a fact the my bank only has personally loan up to $5K so that is not an option. Any other sugeestions?

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