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No. of Recommendations: 3
The strategy to tackling this debt?

1. Paying off the CC that has the least amount first then working on one card at a time. (Snowball effect strategy) Or starting off with the one with the highest interest first.

2. Getting a debt consolidation. ($12,000 loan to at least cover 3 CCs!)

Actually, in your case, your strategy should be:

1. Separate into your cards vs. Mom's cards
2. Pay off Mom's cards first - start with the one of hers that has the highest interest rate, while continuing to make the minimum payments on all cards

You have abused your mother's good credit, and you need to fix that first.

Someone said that a debt consolidation that help but worsens the overall debt. If this is true please state the reason. Logically I see that a flat rate fee beats a variable interest. Even doing the calculation, a consolidation saves me more money overall versus trying to pay all of it over the course of 5 years or so. Why is consolidation bad again?

If YOU (not your Mom, or your Mom co-signing) can get a loan that lowers the interest rate and doesn't increase cash flow and doesn't increase your debt by charging a large origination fee, it would be a good idea. Given your lack of income, I doubt that you can qualify for such a loan on your own without committing fraud. That would be a BAD idea.

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