Hi When you take out a debt consolidation loan and the lender sends cheques to pay off your credit cards?
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unless the banks have notified you that the card has been cancelled - cos you missed payments, went over etc., the cards are still active. however, remember that it is so easy to fill them to the hilt again. it starts off as oh its just this one thing, its just this emergency, il pay it back on pay day, then its oh and this thing and that thing, oh ill pay a bit now and the rest later and before you know it, your maxed out and taking out a bigger loan.
just be cautious is all x
CUT THEM UP. You don't want to get into the same problems again, so cut them up and eliminate the temptation.
Yes your cards are still active, don't take out these loans they are high interest and generally the debts spiral out of control
yes it is still active and you can use it...but the question is. is it really worth using it? u had to take a loan out to clear it so what is the point to run it up again? do u really want to pay the CC and the Loan?
Unless the credit card companies have told you that they are cancelling the cards, then they will still be active. But be warned, if your debt was spiralling out of control so much that you had to take out a loan to pay it off, is it really worth using them again? This will only led to more debt, which you may not be able to afford! Make sure your loan is from a reputable lender otherwise you may be paying over the odds for interest / charges etc Good Luck
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