financialDebt Consolidation
#RI-6a0ea030·6 months ago·
1
“Got a HELOC to consolidate $125k in credit card debt.”
What Actually Happened
My business failed during COVID, leaving me with $125k in credit card debt. I got a HELOC which paid off all the cards and reduced my monthly payments from over $4,500 to $1,500.
What I wish I knew
"I wish I had known sooner how many viable options there are to manage overwhelming debt."
Advice to Someone Facing This Now
If I could tell you one thing
"Know that you have options and even when everything seems hopeless, there is always something you can do."
Regret Index
1/10
Positive or neutral outcome.
Would make the same decision again.
Would make the same decision again.
Advice for Someone Facing This
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financial Category
1,609
financial decisions logged. Avg regret 5.4/10 across the category.
Same Outcome Band
35%
of financial decisions land in the settled band the same as this one.
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