Hi guys, it's my first time using this forum and I wanted to ask about debt. I know that many people on this want to be debt free and some of you may have learned how to be frugal after getting yourself in a tight spot. I'm also of the latter, and I wanted to ask what you think about possibly taking out a large personal loan like something I could find online in order to pay off $10,000 of high interest credit card debt (16%). The APR's with a new loan would be less, and I would have a longer time to pay it off (2-3 Years) but I am definitely asking for guidance. Any mathematicians here? lol, Thank you in advance! Rate this post positively
Welcome to Creditnet Armen, and sorry for the slow reply. It's always a good idea to pay off high-interest credit card debt with a low-interest loan. That's easy math, $$$ saved
