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Personal Finance and Investing

Lonestarblue

(11,988 posts)

2. A home equity loan would certainly cost less interest if she has a good credit rating and can get one.

Reply to groundloop (Original post)

Fri Nov 8, 2024, 10:32 AM

Nov 8

She might also check out small business loans if her business income is enough to support a loan.Those rates also would be lower than credit card interest rates. Good luck!

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Daughter's Credit Card Debt [View all] groundloop Nov 8 OP

3 years ago, my adopted daughter came to me with a similar problem UpInArms Nov 8 #1

A home equity loan would certainly cost less interest if she has a good credit rating and can get one. Lonestarblue Nov 8 #2

Home equity line of credit is one way to go but, Quakerfriend Nov 8 #3

She's already put in the paperwork to substitute teach...... groundloop Nov 8 #4

Excellent! I hope she can pay it down quickly!! Quakerfriend Nov 8 #5

A quick look at a credit app revealed that a $25K, 15 year fixed rate loan would cost about $250 a month. BobTheSubgenius Nov 8 #6

I do have a quibble with her paying off the highest-rate card first.... lastlib Nov 8 #7

This is old now, but wanna hit this... Happy Hoosier Dec 3 #10

The first question I would ask is this; A HERETIC I AM Nov 9 #8

And one other thing; A HERETIC I AM Nov 9 #9

This may be OBE, but... Happy Hoosier Dec 3 #11

Along with paying off that debt, PoindexterOglethorpe Dec 5 #12