Question by Isabel: Personal Loans / Home Equity Loans?
I got 4 credit cards from 4 different banks. Can I use the personal loan or home equity loan to pay all my balances from these 4 credit cards?
For example, I got a total of 00 debt, each credit card got 00 balance, can I pay them all using my Personal loan from Chase?
Because I was thinking like, I can only use the Loan “from Chase” to pay for my debts on Chase.
Is there a difference between Personal and Home Equity Loans?
Best answer:
Answer by Nutter B
If you get a personal loan or home equity loan you can use that money anyway you choose.
A personal loan usually carries a higher interest rate over an equity loan. If you don’t pay an equity loan they can attach a lien to the property.
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