Approved for Debt Consolidation Loan

@maezee (27800)
United States
February 17, 2017 5:09am CST
Well! Good morning all and hope you are having a fabulous Friday so far. Recently I was asking for advice on whether or not I should apply for this debt consolidation loan to take care of my 5K in credit card debt that has been stagnant and at high interest rates for like the past year. The condition would be that I would have to close one of my credit cards, but I would be able to keep the other one Ive had for many years. I was paying a ridiculous interest rate of around 15%. I bit the bullet, applied for this loan (with my credit union I bank with) and my first payment is coming up in a few days! I already put $400 onto it and hope to throw on more here and there to get out of debt faster. It feels good to finally feel like I am getting somewhere with the debt, although I have a long way to go. Any news on your part? Any goals for your debt?
1 person likes this
3 responses
• Philippines
17 Feb
That's good to know. Being debt free is a very good news for everyone. Next week I will call my old office for my COE and backpay... Then I will go to SSS to ask how much should I need to pay for them. I don't want to get a lot of penalty.
1 person likes this
@maezee (27800)
• United States
17 Feb
What is COE? Is that for tax purposes? Best of luck - I hope you dont owe either. Debt is a burden. Let us know how it goes.
@dodo19 (28098)
• Beaconsfield, Quebec
17 Feb
That's really great news! I'm glad that you were able to get a consolidation loan. That will make a difference. I'm really hoping to be able to down some of my debt, but we'll see. I'm working towards that.
@maezee (27800)
• United States
18 Feb
Thanks. I like to see the zero balance on my credit card statements. Even though now the balance is just on a loan. Oh well. Baby steps. Best of luck to you with your debt :)
1 person likes this
@dodo19 (28098)
• Beaconsfield, Quebec
18 Feb
@maezee Thanks. I'm hoping to get it down. But like you said, baby steps.
@YesWay (3498)
23 Sep
I am hoping to pay all my debt off before the end of August 2018