Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
Spidy91

0 Contributions
0 People Helped
Is debt consolidation a good idea if your making payments on time but debt not going down

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
7 Contributions
29 People Helped

Depends on the  terms of the consolidation loan to be honest.  A few years ago, I made an application that did all sorts of crazy math for the best way to pay off debt.  The idea is not new, but you may look at the "Snowball Method" as an alternative to debt consolidation. ( My application is no longer available online, but you can google and find tons of information about the method )  It does however work best if you're able to pay more than the minimum payment.

If you do go for a consolidation loan, just make sure the terms are more agreeable than the average of what you have now.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.