Credit card debt
Using my credit card became an habit and I'm currently 16,000 in debt. My question is do I A. Get a loan to pay it off or B. Save and pay it off. I ran the numbers and I could pay it off in about 8-9 months
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Along with the options stated above, you can take professional help to repay your debts. Or, saving the amount and paying back dues is the best strategy.
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Good Nelly
You can take out a consolidation loan. But, make sure you make the payment of the new loan, otherwise, it can take a toll on your finance further.
What is your monthly income. If it is a decent amount, then I would suggest for repay the debt by your own.
Talk to your creditor to get a suitable repayment term. Craft a budget and eliminate every unnecessary expense. Make payment as much as possible.
sanderspatricia29
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