I'm currently in a lot of debt. and I need it to stop
I've been in debt from a previous loan that I had, every month it keeps increasing as long as it remains unpaid, fortunately I have credit cards that I haven't used but would this be a good idea? Wouldn't this just come back to bite me? Can someone give me advice regarding the matter? Any help would be appreciated
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As long as you are able to pay your credit balance as soon as possible, I don't see the harm in paying of a loan with your credit cards, since it would obviously be better for you to pay the loan that you had before, since every month it will increase in interest and would cost more, while the credit card that you posses only needs to be paid monthly and will be unaccesible only if you exceed the credit limit but mind you, as long as it remains unpaid credit can also increase in interest so exercise this with caution