You say that you don’t want to use your home equity as collateral for a loan so I am going to assume that you own a home and have equity in it. If this is the case then perhaps you should consider a home equity loan in order to consolidate your CC debts at a lower interest rate. You will likely be able to further reduce your monthly debt payments by stretching out the term of the loan. In addition, if you live in the U.S. the interest that you pay on that home equity loan might be tax deductible. Find more information on this here… http://www.debt-elimination-guide.com/debt-consolidation-home-loan.html

If you don’t have any home equity then your options become limited. Your best bet may be to contact your credit card company(s) and ask for a reduction in the amount of interest you are paying as well as a reduction in the amount that you are paying each month. Most CC companies will work with you on this and you can sometimes achieve results similar to what you were hoping to achieve with a new loan. The credit card companies would rather have less interest and a slower payback period than a total loan write-off. There are also companies that can help you with this if you don’t feel comfortable doing it yourself. In fact, some will give you a free debt analysis before you commit to anything.

There are some other options available as well, but it doesn’t sound like they would be suitable for you at this time. If you would like a recommendation on a few good companies and information on other options you can find that here… http://www.debt-elimination-guide.com/debt-elimination-options.html

Regards

Bruce