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We have 40K in credit card debt. Is a loan to pay it off a bad idea?
We have 40K in credit card debt. Is a loan to pay it off a bad idea? My husband was out of work for 6 months and we racked up about 40,000 in credit card debt. Right now most of the money that we are paying towards it is just going to interest. The current rate is 17.20%. I recently got a letter in the mail from Flatrock funding offering us a loan for the credit card debt for 38,000 at 3.25% interest. Would getti...
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