I am currently trying to help my gf (soon to be fiance) get rid of her credit card debt she racked up purchasing house supplies/furniture/rent right after college. We are both employed and have stable income.
To throw some numbers out. I make about 80k/yr and she is at about 50k/yr before rent/bills. The total debt is probably around 15k across about 5 cards. They all have pretty high interest rates.
She is currently struggling in paying them off with their interest rates as everything she pays is currently getting thrown back on.
Would it be a good idea to just pay off the cards completely for her? (I have more than enough saved to not be at financial risk from this, but I also want to help her accomplish paying them off herself rather than her just getting them taken away).
We also have considered getting a personal loan from a bank or CU which would have a lower interest rate than her cards to help pay them off.
Are there any other routes we could take and should consider? Which would be the best route to resolve this the quickest and most effectively?
Submitted April 23, 2018 at 05:54AM by TempAccount28374 https://ift.tt/2qS3Nmx
