Little background – Decent credit (690-710 range). Husband has several credit cards and I don’t know the total debt, I have 1 (with a $1400 balance). To combat the high CC rates, we managed to get a line of credit, with an interest rate of around 16%. We moved some off to that, but have ended up adding a little more debt to the CC (hospital bills and such). We always pay more than minimum on the cards, and the LOC has a base minimum, but we have an auto payment that pays, I think, $50 over minimum.

What’s my best strategy? Trying to stick with it with the LOC, moving things over as the balance gets lower and paying above minimums on the highest interest rate cards, etc…or trying to throw this to a debt management company?

I would really LOVE to find a consolidation loan on my own that’s lower than the LOC rate. I just want to pay this debt back quickly and with the lowest rate possible.
The L.O.C. payment is also adjustable, it changes each month as the balance gets lower, its always a % of the balance remaining, that’s why we tacked on the $50. I can’t really change that to a set amount, though that does allow us some flexibility in moving cards over later on.
Oh and my credit card account is closed, so I cannot negotiate a better rate to pay them off, according to their CS rep. Is this true?
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