BILL'S ANSWER
Several possible solutions to your problem come to mind, but the best one for your situation will depend on several factors.
First off, if you want a free consultation with one of Bill's approved debt help partners.
Now some things to consider as you evaluate your options:
You may be able to transfer your existing cards to another credit card with a lower APR, or one with a 0% introductory rate. A balance transfer could help you by consolidating all of your credit cards into a single account with a lower interest rate and lower monthly payment. You may want to explore credit cards that meet your needs. A card such as the Discover Platinum, with a 0% APR for 12 months, and 10.99% thereafter, is certainly a good deal as far as credit cards go. You could also look into an unsecured personal loan to consolidate your debts - check out the loans section of the Bills.com Savings Center for unsecured debt consolidation loans that may improve your situation.
However, your ability to qualify for either a credit card or a personal loan that will actually save you money greatly depends on your credit score. If your credit history is less than perfect, you may have difficulty finding a lender willing to extend you credit, and if you do find a loan, you should expect to pay a premium in interest.
A possible loan resource you may want to explore is peer-to-peer lending. A private lender may be more willing extend you a loan than a traditional bank. I know of three companies facilitating peer-to-peer loans in the US today: Prosper, Lending Club, and Virgin Money US. (Readers: If you know of others please comment below.)
If you are unable to find a consolidation loan that fits your needs, you may want to look into alternatives such as debt settlement or credit counseling. Bills.com offers a wealth of information regarding the various debt help options available to consumers - visit /debthelp/
I hope we can help you find a solution to your debt troubles.
Good luck,
Bill
www.bills.com
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