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Re: what to do about credit cards


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Posted by skylynx (205.188.198.186) on May 27, 2002 at 09:17:22:

In Reply to: what to do about credit cards posted by Nancy Carroll on May 26, 2002 at 18:38:43:

I thought that no creditcard company could take the house to settle a debt. Christine says with that much debt they could take the house, but how? Each credit card debt is a separate deal and they dont gang together and take the house. Experts say NOTHING COULD BE WORSE than to consolodate the creditcard debts into a home equity loan, because if you default on that, then you could lose the house indeed! You just traded your nonsecured debt (that cant take your house) for one that could do a lot of harm (by taking your home) Am I right?


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