(TLDR: I pay 892$ a month in bills, if i did a loan with credit karma at 24.99% apr paying 133$ a month for 12 months would it benefit me? It would only increase my monthly bills to 910$.) To start off I'm around 2500$ in credit card debt and I pay around 892$ a month in bills. I'm only 21 years old and I made some very bad financial decisions due to depression and im suffering the consequences. I recently learned about credit karmas debt consolidation where you apply for a loan, use that money to pay off your debt, then pay off the loan. (They tell you your approval chances of getting the loan, the apr, and how much a month for what period of time I'd be paying). If I were to go through with a certain loan I'd be given 2500$, pay 133$/month for 12 months with a 24.99% apr (I'd be paying 902$ in interest), and after calculating my finances I'd be paying 910$ a month in bills instead of my 892$ so I'm only adding 18$. I should also add I make 32,480$ annually before taxes.
Submitted July 26, 2022 at 07:09AM by Rhythm_Blade https://ift.tt/bqNZW0M
