No. of Recommendations: 4
And if you sell the house and pay off all the cards, what systems to you have in place to prevent you from running them up again? Most of the time, high CC debt is a symptom of an underlying problem (spending more than you make), and unless you take care of that root cause, selling the house would just be a band-aid, because you'll find yourself in the same boat a year or two down the road.

Personally, I wouldn't even think about selling the house until you've proven to yourself that you can stay off the credit cards - in my case, that would mean 6 months without a single new charge...
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.