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What Should I Do to Get Out of Debt? – Jules

Jules

“Dear Steve,

With 30,000 in credit card debt, 20,000 in loans, is consumer credit counseling best or should I try to consolodate 6,000 more in fixed loan and ccc the rest.? Or Bankruptcy? Right now credit cards are increasing APR’s and I feel like I am drowning. Credit rating is 680’s. I also have two open cards with zero bal and 5,000 each limit. Should I close them, I have never used them but they’re from a preditor loan company.

Thanks.

Jules”

Dear Jules,

Close the two credit cards that you have not used and talk to someone about a debt management program to lower your interest rates. Do not consolidate any in a new loan.

Sincerely,


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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