I'm about to seek a consolidation loan thru my credit union. Should I?

[Orrex]

I need to get a handle on my monstrous credit card debt, and this seems a great option. Currently I'm paying about 400% on my credit cards, whereas my CU will charge only 3.9% for balance-transfers.

I'm worried mostly because this seems like it might be a little bit of light at the end of the tunnel, and I've gotten so used to the impenetrable darkness that I fear I might simply be dazzled.


Suggestions? Thoughts?

[MrCoffee]

1. I did it, and it's AWESOME!!!!

one easy payment, way lower interest. good deal all the way around.

[AutumnMist]

2. I Think It Sounds

like a feasible and realistic option. Loans are loans and you just need to get the one that fits your needs and end result. Getting out of the evil spiral of credit cards is always a good thing. You can hardly get those buggers paid off when they have the high interest rates on them. Good luck! Let us know what happens! :)

[AutumnMist]

3. I Think It Sounds

like a feasible and realistic option. Loans are loans and you just need to get the one that fits your needs and end result. Getting out of the evil spiral of credit cards is always a good thing. You can hardly get those buggers paid off when they have the high interest rates on them. Good luck! Let us know what happens! :)


Edit: I am not sure why it did a double post. I must have been really excited about the consolidation loan. LOL.

[Orrex]

4. It sounds so nice, you have to post twice!

I feel this weird and unfamiliar sensation. It might be a vague sense of possible relief, but I'm not sure that I can recognize it!

[AutumnMist]

5. LOL!

Take a deep breath and step into the light. Oh wait thats poltergeist. LOL. It will be fine. Relief is always a good thing to feel. I wish you the best. :)