Which is the better route to take?
I have $21,000 in debt spread out between 6 credit cards. I don’t use my cards anymore and I can probably pay this off in 2 1/2 years if I make $1000/month payments.
I called a debt consolidation company and they are willing to take on my case. They said they can reduce my debt to $11,700 and reduce my monthly payment to $326/month for 3 years but it will temporily hurt my credit score because they will settle with the credit card companies.
My credit score is 704-740. I hate to see that happen but I’m kinda struggling.