Subway11 - I agree with you most that people don’t consider the risk that they are putting themselves in by taking this type of loan to pay off credit cards.
I do like Dave Ramsey’s approach of paying off the smallest balances first and the tackling the others. It does make you feel like you are making progress which makes you want to continue.
His book, “The Total Money Makeover” talks about personal finance and how to eliminate debt of all kinds.
He says that it would be okay to take out a personal loan to pay off credit cards. You can take out a loan from a credit union and do this.
Since credit unions are nonprofits they usually offer great terms. Sometimes they will even give you a discount on the loan if you sign up for direct deposit.
I try not to use my credit cards and when I do I make sure that I pay them off at the end of the month because if not the balances continue and then it feels like you are climbing a mountain and it become overwhelming.