The other day I needed to take out a loan in order to pay off a couple credit cards. I thought these loans were much better since the credit cards I have were all over 20% interest. That’s ridiculous I thought, and looked for a way to pay them down much faster. I contacted a loan company that offered a much better interest rate than 20%. I combined all the credit card debt into one payment when I paid everything off. Now I have a reduced interest rate and only one bill. Oh and cut up all my credit cards so there is no temptation to use them again!