Just don’t make a fast decision because it could cost you money. Look closely at what you will be paying in interest before you do anything. A personal loan worked for us because we were able to pay less interest.

We did put some money in savings to make sure we didn’t have to go into further debt if we faced emergencies, but our main focus was debt.

You can usually tell them when you apply that the funds will be used to pay off existing debt.

Hi Mike, no we did it the old-fashioned way. We cut spending drastically. We sold stuff we didn’t need or use. We downgraded our car and lifestyle. Plus, we found every way possible to earn extra money.

Hey Mike, I also picked up a lot of extra work from cleaning pools. Andrea and I also sold a lot of stuff – clothes, jewelry, things from around the house, etc.

Banks won’t just give you a personal loan unless your credit is good and you have some type of collateral. Most people who are in debt don’t have good credit and probably don’t own anything that a bank would see as having value. Obviously you and your wife did so that worked for you but you never really hit rock bottom. I mean you paid off 52K in 7 months which people who rack up debt can’t do that. So what’s your real secret? Family money? Or do you and your wife make more then your claiming so you could pay off this debt easily?