Re: unsecured cards and last house payment!

Posted by observer (152.163.195.189) on August 11, 2002 at 07:55:55:

In Reply to: Re: unsecured cards and last house payment! posted by poor lawyer on August 11, 2002 at 02:33:20:

I am not a fan of using a HELOC to pay off credit cards. You're placing unsecured debt in a secured position and if you don't rip up those cc's there is every chance you'll run these cards right back up. Also, you'll probably just make minimum payments and will be paying off that cc debt for many years.

I would suggest a good dose of living below your means. Living on a cash only basis and pay as much as you can every month on the cc debt. Pay minimums on all cards except the one with the highest rate and pay as much as possible every month onthat card.

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