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    1 Reply Latest reply on Mar 27, 2009 10:01 AM by tdferrari

    Consolidate line of credit and credit card debt

    DaleNH Newbie

      Just wondering if there are any options to consolidate line of credit debt and credit card debt into one loan. My debt is around $70,000 combines from a line of credit and one credit card. I am a contractor and was out of work for about 3 months a year ago. Due to shoulder surgery. I irresponsibly let my debt get out of hand. I can make solid payments monthly, but it doesn't seem like I am getting anywhere having to pay both debts. Any advise would be appreciated.
      Thanks
        • Re: Consolidate line of credit and credit card debt
          tdferrari Newbie
          That's what I did back in 92. I needed to buy a car and the bank wanted collateral. I paid off all my credit cards, the $800 I owed on my home, and financed my car with my line of credit so I would only have one payment. I am sure the financial advisers would not suggest this as this is risky. If you can't afford the payment, you stand the chance of losing your home.