I am trying to get out of debt and at the sametime trying to figure out what will be a better way.
I have about $9.9k in credit cards debt, 2 car loans (~$19k) and a personal loan with $4200 left. I am making all my payments on time and always paying my cards more than the minimum, most of the times 3-4 times more on some cards. My credit score is about 689 at the moment and never had any issues getting any credits approved. Also never had any late payments, late bills or any collections.
My question will be – is it worth to get a $15K Solution Loan and pay all my CC and the personal loan. I tried the Prosper and they denied it (most likely) because of the amount of debt owed. Now I just got an offer from First National Bank of Omaha – First Solution loan program (are you familiar with this bank and any business they do?). They are offering a credit line between $5-25k at 7.99-14.99 APR. So I was thinking if I take $15k for 48 Months ($380) a month that may get me out of the many CC debt situation.
But I need a smarter advice from an experienced person.
Thank you in advance and looking forward for your reply!
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Is the First Solution Loan Program from First National Bank of Omaha a Good Idea? by Steve Rhode