I agree with ArgentLupe.If you haven't changed your spending habits, consolidation is a bad idea. If on the other hand you have been able to stop spending then I would consider a consolidation loan only if it is thru a reputable bank for a fixed interest rate. I would then put ALL my debt into the consolidation so that you only have one payment for debt reduction a month. I would then try to make double payments on that loan until it was gone. This should save you a significant amount of interest and get your debt paid off much faster then a typical snowball.What no one seems to have noticed is that the OP has cut up all the cards associated with the debt that she's wanting to consolidate. This doesn't mean, of course, that the underlying spending habits have changed. However, what it does tell me is that OP is aware that the spending habits need to change.It is a bit difficult to swipe a card that is cut up. Even more difficult than waiting for frozen credit cards to thaw.jmc
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