I have started to pay off all my debit (credit card, student loans and car payment totaling about $24,000). I used the debit manager tool online and found it very helpful. I'm wondering if it makes more sense to take a personal loan out to pay off everything or if I should stick to the debit manager plan?
Thank you for your question and your feedback on the Debt Manager tool. Consolidating debts may be an option to help manage your payments and pay down debt faster. Here are a few things to consider first:
Also consider a few of the common mistakes that people make when consolidating debts or creating a debt repayment plan:
Paying down debt is one of the best feelings as it frees up money to work on other things you want to accomplish. For additional assistance, feel free to contact one of our financial advisors at 1-800-531-8722. Best of luck as you work towards becoming debt free.