Tilted Forum Project Discussion Community - View Single Post - Credit Card Debt

Nunquam_Idem · 07-19-2005, 02:21 PM

For the really big balances of debt, either transferring to low rates (0-6%) is good. I am about 15K in the hole through a lot of different cards (just bought a house, remodeled, new appliances, etc) and a debt consolidation company will be helping us out. They contact the creditors, effectively close the accounts (from further purchases) and put you on a plan to pay it all off within 50 months or so. They really do get better rates (our 21% Chase and Discover are going down to 10%, and 6% AmEx is going down to 0%). They charge for their service, but it will be worth it.

I just wish I wasn't in the hole. Congrats to those who are out of debt, in a couple years, I hope to make the same announcement!

07-19-2005, 02:21 PM	#26 (permalink)
Nunquam_Idem Tilted Location: On the 'Mostly Harmless' planet Earth	For the really big balances of debt, either transferring to low rates (0-6%) is good. I am about 15K in the hole through a lot of different cards (just bought a house, remodeled, new appliances, etc) and a debt consolidation company will be helping us out. They contact the creditors, effectively close the accounts (from further purchases) and put you on a plan to pay it all off within 50 months or so. They really do get better rates (our 21% Chase and Discover are going down to 10%, and 6% AmEx is going down to 0%). They charge for their service, but it will be worth it. I just wish I wasn't in the hole. Congrats to those who are out of debt, in a couple years, I hope to make the same announcement! __________________ Oh no, not again.