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I am a 34-year-old married mother of three boys. My husband and I are looking to consolidate
our HIGH rate credit cards to pay off our debt faster. We are both working in stable jobs ? he?s
been in his job for 17+ years, and I am going on my 6th year in my
job. Our combined income is $97,200 a
year which is not figured into my DTI ? with our combined income and debt, it
would be 70% rather than the 85% with just my income. About 5 years ago, my husband was sick and spent 10 days in
the hospital. We only had major medical insurance at the time, and we ended up
paying off $25,000 in medical bills. We
did that partially by going into debt on credit cards elsewhere. Our current income allows us to live comfortably and make
all of our payments on time, but with the interest rates so high, it feels like
we will never get this paid off. This loan will pay off three credit cards with interest
rates over 29% with combined payments of $348 a month, which is more that the
amortization shows this loan will be. Please feel free to ask anything I may not have covered
here. Thanks for helping. |
