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Q & A
I owe $7K in credit card that charges 21%. I owe another $71K in a Home equity line of credit charging around 5.8%. Should I pay for my credit card using the Home equity line of credit being that it charges me less interest? My outstanding mortgage is $250K and paying around $1700/mon. I'M A TOTAL FAN. I LOVE YOUR SHOW and it's so true that couples grow apart. I'm at that point now and I'm very disappointed in how we handle our finances. Name withheld
You should absolutely use your line of credit to pay off your expensive credit card. Then you MUST cut up the card. If you keep the card, and run up the balance again, you’re a dope.
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Books The contents of this website are of a general nature and should not be construed as financial advice. Individuals must seek professional counseling based on their specific needs before making a financial decision. ©Gail Vaz-Oxlade. Contents of this website may not be reproduced in any form without the written permission of the author. Site by cobourginternet.com Site map |
