Hi---I have six credit card balances going and recently became unemployed. The biggest amount I have is 3,300.00, with other smaller balances on the other five. The biggest one has a credit limit of 9,400.00. I was wondering if it would be good to transfer all of the smaller ones (balances) to the one card with the biggest limit. I know I can't pay then anyway without going to collections eventually, should I offer to pay what I can if I transfer to one card? The overall debt then would be 9,200.00. I have nothing in my name to put a lien on, so if I didn't pay, could they still do anything if I ignore paying? I don't want to file for bankruptcy so soon. Can you help?

Thanks, Randy

If you transfer balances you could be prosecuted for fraud. Your best bet is to deal honestly with your creditors, explain your situation and ask for some accommodation, like maybe suspension of interest until you find a job.

Advising you to transfer all of your money to the card with the big credit balance would be a silly idea.

What are the interest rates on each card? Your goal should be transferring the money to the lowest interest card.