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BenitaKH

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What is better, to pay off my credit cards monthly or to get a debt consolidation loan
I have about 15,000. in credit card debt and am trying to decide if it is more beneficial to get a consolidation loan or to continue to pay off the credit cards monthly.

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If you are behind on payments

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You may not qualify for a new loan or Balance transfer cards.  

If the debts are old, you may try contacting the credit card co's and see if you can get them to lower the interest rates. An "Offer and Comprimise" may work if you are able to put together enough money to pay a significant amount towards the balances. (if you can work out and O&C be sure to ask for a "pay to remove" agreement in writting before paying them)  learn mre about these options in the CK blogs and other Credit repair sites.  

You have some options, explore them and see what works best for you. 

Good Luck 

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It often depends on the interest rate.  I had 3 cards that were 20% and higher interest.  The consolidation credit card I got was at a significantly lower interest rate and was a 0% for 12 months.  That gave me time to make a significant dent in the debt because all the money being paid on that was going to the debt, and none to the interest. Look into that as an option, and seek one with at lleast 12-18 months 0% repayment.  If you go for a loan, you will be paying interest all the time, which is why doing a balance transfer could be a good optioin.

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