Help needed with a 35k cc debt!

While at my bank to clear up some monthly fees on my 'Free' checking - I asked if they had any sort of debt assistance program.



Short of it is. I refinanced a car that was a couple of months from being paid off. Bank was offering financing on 160% of 'value". The new loan pays off 2nd car and 4 credit cards/loans. The new payment is $900 less outpay per month. By doubling pmt all will be gone in 2 yr, and I still have $500 more per month than I did. This is likely to increase my credit score almost 100 points within a few months.



The other car can be financed in 30 days to include remaining 2 credit loans. Once again cutting total output per month by another $200.



Shortly my credit report will show 2 car loans and my mortgage.

I know this probably won't work for everyone. but it might be an alternative for some.

So you have 35k in auto loans?

No, but if you had several cards or loans, consolidating could lower monthly payout

say you had car and just 4 of several debts - payment amounts

car - 300
credit card 1 - 100
loan 1 - 250
credit card 2 - 100
credit card 3 - 100

$850 month paid out.

If you could refinance all into a car loan at $500 month - $350 month less strain on your budget.

I didn't say it would work for everybody. I was looking at settlement, which would have hurt credit score a lot and would take about the same amount of time to complete.

Good Luck - keep looking til you find the right answer for your situation