We’ll Tell You How to Pay off Credit Card Debt — in Just 100 Words

So you’re falling behind on your credit card payments. You’re paying so much in interest every month, you can’t pay off the principal you owe. You’re just treading water financially.

If you have a lot of credit card debt, look into consolidating it. Borrow money at a lower interest rate, and use the loan to pay off the balances on your high-interest credit cards.

It’s a twofer: You save money on interest payments, freeing up cash to pay down your debt faster.If you have a credit score of at least 620, you could get up to $50,000. With no collateral. And terms go up to 144 months.

Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder. He’ll be brief.