I am thinking of taking a secured loan to clear credit card debt , any advice?

Answers:2   |   LastUpdateAt:2012-11-04 23:25:01  

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Mongolian Shit
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I'm thinking of taking a secured loan to eliminate credit card debt , any advice?
Answer1grammar :(Answered at 2012-11-04 23:23:31
Good Idea. If you own your own home, and you have enough asset, you may get a second mortgage, use the money to pay off your credit card, and you also can deduct the loan interest on your taxes. Usually credit card interest are much higher than bank loan. But, lots of people do the same what you want to do, after they get a secure loan to pay off the credit card, and they charge it up again !!!! sad !! Good luck.
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