I have incurred a huge amount of debt on credit cards and payday loans. My friends tell me to take out another loan in order to combine my debts? If I do this, will this be helpful or wise?

1 Answers
-8 votes
Vote up!
Vote down!

Instead of taking out a loan, you can enroll into a debt consolidation program to pay off your credit cards and payday loans. Sometimes, lenders charge high interest rate on loans when you've a poor credit score. So, it would be better to enroll into a consolidation program and combine your debts into a single monthly payment plan. 

Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

Last Updated on: Fri, 8 Jun 2018

BBB-A--Rating TrustLink logo TrustLink logo