My parents have over a hundred thousand dollars in home equity but they also have around fifteen thousand dollars in various credit card bills.
Since they refuse monetary help from me, All I can do is search for other ways to help them!
One of the cards
Sears Mastercard is killing them with $350.00 a month payments.
The other cards cost around $150.00 a month each.
Adding them up, the costs are around $600.00 a month in payments.
I scanned the following letter and would like to ask if what they offer would be a better way to go?
I would like for them to consolidate all of their cards into one payment and this offer seems like a good way to go?
Their income is roughly around $3,100 a month with monthly expenses (mortgage, electric, credit cards, phone etc. etc.) at around $2,200.
Looking at reviews for the company (bank), I come up with some good, some very bad.
Seems that an upfront application fee must be paid and isn't refunded if the loan is not approved!
Sounds like a good way for the company to make some easy cash?
(I had to reduce the image after scanning it .. from 2600 px to 800px so I hope it's readable)
Thanks