I may have posted here before, but I don't recall. Anyway this is my situation. My fiance and I just bought a house. We both have excellent credit scores, however, we do have debt. He was previously married and in the divorce he got the credit card bills, in total about 15,000. His parents were nice enough to take out a home equity loan at a very low rate to pay off his credit cards, so now he has one low payment of 106 a month. It would only have been 53 a month but they are doubling it to pay it off sooner. I too have credit card debt, but because my parents would kill me if they found out I don't want to ask them for help. I want to know my options because I have no idea where to start. I have about 6,000 in credit card debt, a student loan with about 16,000 left and a personal loan with around 2,000 left. Should I look into consolidating all my debt into one lower payment or just the credit card debt? Right now I am able to make the payments on all my bills, on time, hence the good credit score, but am now worried that the added responsibility of a home will put me further into credit card debt and may cause late payments. Before purchasing the home I stopped using the credit cards and actually saw balances getting lower, however, since moving into the house I have begun using the cards again in order to make sure we have the cash on hand to pay the bills.
I hate balancing my checkbook because it makes me sick. And what makes me more sick is that I wasn't raised this way. My mom did a wonderful job of teaching me to budget and I did for several years, but then I don't know what happened. Life I guess. I want to cancel my credit cards and just start paying them off, but then I worry something will come up and I won't have the cash and then I will be SOL. It also doesn't help that my fiance has no concept of money. Partly because his ex-wife's father bought them anything they wanted and he had the best of everything and he still expects that now. I still don't understand how he could have 15,000 in credit card debt from his marriage when ex-wife's dad bought everything for them, but that's another story.
Should I go to credit counseling, consolidate my debt, cancel my credit cards or what? Where do I start? I've also thought about trying to get a credit card with 0% interest on balance transfers and transfer my balances to it and close the other ones. Would this be a stupid move? Any advice is appreciated.