Pay off your credit card debt with help of home equity loan

Jun 11, 2008 18:26

If you think that there is no way you can pay off your credit card debt, hold on! If you are a house owner, home equity loan is a way out for you. We usually take equity loans in order to increase the value of our homes and improve them, but why not to pay off your current credit card debt with it? Usually the interest rate on home equity loan is lower than the rate on your plastic and it is rather simple to get it!
You can pay off a total ammount of debt or just a part of it, anyway you are getting a good deal! As soon as your debt is paid off, you may want to put your credit card in some safe place and not use it for a while, because if you are not responsible enough, you will get a new debt and will still have to pay off your loan!
As you can see, everything depends on you and on your responsibility, but home equity loan is a nice choice if you want to get rid of your credit card debt!
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