How fast can I clean up my credit card that has a debt of $1500?

Although a debt consolidation loan is not a magic way to eliminate your debts overnight, but it can help you to reduce your debt faster. As you know, credit card debts and other personal loans are high interest debts. In most cases, your minimum payment barely covers the interest incur by these high interest debts. Hence, you find it difficult to reduce these high interest debt%26#039;s balance if your are paying just the minimum payment.

If you lump all your credit cards debts and other personal loans into a consolidation loan, you can take advantage of lower interest rates and lower monthly payments offered by a consolidation loan. This enables you to enjoy debt free with a few years.

Conslidate Debts With Home Equity Loan

There are various ways to obtain debt consolidation loan. You could apply for personal loan or any unsecured loan with reasonable and lower interest rate as compare to your current debt%26#039;s interest rate and consolidate your debts into this loan. But, to obtain an unsecured loan, you need to have a good credit score else you loan application most probably will be rejected.

The best way to consolidate your credit card debts or any other high interest debts is using a home equity loan. Of cause, you need to own a home in order to apply for a home equity loan. Home equity is ideal for you to consolidate your credit card debts because the interest is much lower interest rate than credit card and other unsecured loan. And the best part is it normaly have different terms or repayment periods for you to choose from. The longer the repayment terms, the lower the monthly payment is. If your current financial is tight, you could choose the longer repayment term and pay more when you are at better financial situation. Read more from: http://www.credit-card-gallery.com/conso...

How fast can I clean up my credit card that has a debt of $1500?

Clean it up?

I don%26#039;t know...20 seconds unless you got gum stuck on it like mine. Then it takes a bit longer....

How fast can I clean up my credit card that has a debt of $1500?

Depends on how much you make per month and what your other expenses are.

If possible, try to budget yourself to put $150 every payday towards it, and cut up the card. You won%26#039;t have the card, so you won%26#039;t be tempted to spend with it, and within 5 months, you%26#039;ll be debt free again!