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Averett · 03-01-2004, 04:15 PM

I'm considering getting a loan from my bank. I currently have over $15,000 in credit card debt (eeeek x infinity) and about $3,000 left on my car payment. I don't believe that I could do a home equity loan since I don't have a home. So my question is this. What exactly is an unsecured personal loan? Would it make sense for me to get an $18,000 - $20,000 unsecured personal loan to pay off all of my credit card debt as well as my car payments, and leave myself with one monthly payment?

I just want to get a handle on this and be as informed as I can be before I go to the bank and look into this with them.

Thanks for the help

03-01-2004, 04:15 PM	#1 (permalink)
Averett Is In Love Location: I'm workin' on it	Unsecured personal loan? I'm considering getting a loan from my bank. I currently have over $15,000 in credit card debt (eeeek x infinity) and about $3,000 left on my car payment. I don't believe that I could do a home equity loan since I don't have a home. So my question is this. What exactly is an unsecured personal loan? Would it make sense for me to get an $18,000 - $20,000 unsecured personal loan to pay off all of my credit card debt as well as my car payments, and leave myself with one monthly payment? I just want to get a handle on this and be as informed as I can be before I go to the bank and look into this with them. Thanks for the help __________________ Absence is to love what wind is to fire. It extinguishes the small, it enkindles the great.