What to think about debt consolidation loans?

Tips and Deals Forums Debt Management What to think about debt consolidation loans?

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      Anonymous
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      I’m wondering if getting a debt consolidation loan would be the best option for me and my husband. We just got married on May 22nd, both 22 and last month bought our first house. We also have very good credit scores; when we were applying for our home loan we both had 710+. The only thing is now we’re looking at all of our other bills that we have; it’s not TOO much, probably under 8k, but we’re really trying to get them paid off. Most of them have deferred interest right now which is good, but the expiration dates are coming up within the next 6 -12 months and we know we won’t be able to have them paid off by then and the interest rates on some of these things are very high.

      Would getting a loan with a lower interest rate to pay off our credit cards be the best route to go? Any suggestions?
      Steven, what you’re saying doesn’t even make sense. We already DID buy a house and we DID have the money to make a down payment. Because of that fact, now we DON’T have enough to pay all of our other debts before the interest kicks in.

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