Should I get a Personal Loan to pay credit card debt?

I owe about 12000 in credit card debt. These cards are all have an interest rate between 17% and 25%. This is spread out over 4 cards. Would it be a good idea to get a personal loan from a bank to pay off this debt? Would a bank even give me a loan if I already have 4 credit cards? I don鈥檛 know if I would want to apply for another low interest credit card, I think I would rather do it through a bank.

Should I get a Personal Loan to pay credit card debt?credit union

If you can obtain a personal loan, go ahead..

But, you can try a debt consolidation company such as CCCS. They are not a loan company, but they contact your creditors and can work out lower payment plans, with a smaller interest rate. You may have to stay on this plan for about five years, but it is well worth it to help lower the interest rate and payments, without getting another loan.

Should I get a Personal Loan to pay credit card debt?

loan

Hi! I think that is not a good solution in your problem. Owing to bank is not good because bank will also drowned. Well, I am using a debit card which the company issued me. They send me a debit card directly in my home here in philippines. If you are interested to get a new debit card email me at algie123258@yahoo.com . You will not need to spend a single penny to get a new debit card. Try this one.|||I do debt settlement. If you take out a loan, you%26#039;re sinking deeper and deeper. You can contact me and I%26#039;ll let you know about what to do. You must be careful that the people you deal with belong to the BBB and to TASC (this association regulates the industry and has strict guidelines. Many debt relief companies don%26#039;t belong to TASC because they are strict and they should be) There is a light at the end of the tunnel. I%26#039;ve been there.|||Get a personal loan but only from a major high street bank, or internet bank that is owned by major bank.

A personal loan rate could be as low as 7 to 8% which is a huge improvement over the credit card rate.

Monthly payments will be fixed so you wont be tempted to just pay the minimum balance like with a card.

Some banks also allow some flexibility into the repayments so you can increase or decrease payments if you want.

Do it now. Credit cards are bad news!|||Thats what I%26#039;m doing...i have more than 4 credit cards and i have about 9,000 worth of debt...not because i%26#039;m irresponsible but for student loans, my car, and some credit card debt. but give it a try. it will be so much better making 1 payment rather than 4 or in my case like 5|||BOY i have been there and am still digging my self out of it. if u in a hole first thing u do is stop digging. ur debts are brought about by habits - u have to change that if u don%26#039;t even a personal loan won%26#039;t help u.

next do not consult with debt relief companies. all they do is negotiate lower payments then disburse a payment to ur credit card companies on your behalf and most are known not to be diligent with that.

u can contact the card companies yourself and offer to negotiate. they will take a 3cts for every 1$ because they would rather take samething than lose out entirely on the owed amount.

i came across daveramsey.com and he has simple practical steps or guidance on this check it out u have nothing to lose. i am on my way out of debt as have many others.

http://www.daveramsey.com/etc/cms/baby_s...

http://www.daveramsey.com/media/pdf/fpu_...