Credit Card Consolidation Loan - The Bills.com Blog

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Credit Card Consolidation Loan

Question: I have close to $30,000 in credit card debt. I am having trouble finding a loan with terms of 10,15, or 20 years. The only loans I have found that have these long terms are loans using the equity in your home or student loans. I am young and do not own a home yet, but I do have an excellent credit rating. Most of thepersonal unsecured loans that I have found don't have terms of more than 5 years. Do you know where I can look for a loan with longer terms to consolidate credit cards?
Thank you,
Jeff

Answer: Thank you for visiting Bills.com. Here is an answer to your loan question - which is a very good questions!

There are several options that you can consider, including seeking a loan or in finding debt relief. If you were a home-owner, you could have also consider a second loan or a home equity line of credit (aka HELOC) - but given

your situation, a personal loan may be difficult to find that extends that long.

Instead, you could consider one of two loan avenues: i) borrowing against your 401k, or ii) finding a revolving line (like a credit card) with no interest and no payments for a period of time.

The most important thing will be for you to pay off these debts as quickly as possible, and a debt counselor may be able to give you a free consultation on debt help options without incurring additional debt or loans.

Bills.com makes it easy for you to apply, by

following this link: Debt Relief Savings Quote

I hope that his helps you make the right decision for your particular situation, but be sure to shop around and find a loan that meets your needs.

If you would like more information, please visit our mortgage resource page at: http://www.bills.com/loans/

We hope that this helped you to Find, Learn, and Save!
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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