In 2016, I had a medical emergency that landed me in the hospital for days. It was scary and stressful, but the worst part wasnt being ill it was the medical bills that started pouring in afterward.
Out of money, I ended up paying my medical bills with credit cards, racking up approximately $20,000 in debt spread across several cards. With the high interest rates on my cards some as high as 15.00% my debt kept growing. I felt like I was drowning, and even looked into declaring bankruptcy.
Thankfully, I found a strategy that worked for me: I took out a loan with a much lower interest rate to pay off the debt. With a lower rate, more of my payment went toward the principal, helping me take charge of my debt and pay it off faster.
Read the full article at: https://studentloanhero.com/featured/debt-relief-loans-eliminate-credit-card-debt/
