Taking out a Loan to Cover My Credit Card Debts
I have amassed a large debt on my credit cards and I would like to take out a loan in order to pay them off. The problem is that I have $10,000 loan bad credit and this is making it difficult for me to take out a loan. I am in a little bit of a Catch-22 situation as I am struggling to pay off the credit card debt because of the very high interest rates. If I was able to take out a loan I would pay a much lower interest rate and it would be very easy for me to pay back debt and have money to spare.
As I have been refused a loan I’m currently thinking about asking my parents if they will act as a guarantee for my loans. I am not sure if they will do this or not; this is because my parents have always been against taking out loans the things that you cannot afford and have never been in debt for anything other than the mortgage that they needed to buy a home.
