u/Ethan71155

I’m in a much better finical place now than I have been over the past few years.

I’ve got $36,000 in debt (not counting my house) and could get $25,000 - $40,000 as a HELOC to consolidate the debt.

$13,000 of my debt is very high interest on unsecured debt, $13,000 is a medium interest auto loan which will be roughly the same as the HELOC interest rate, and my final $10,000 is a 401k loan which technically has a negative interest rate since I’m getting the interest, but I’m not invested in the market and am losing out on potential gains.

I have 5 options:

1. no HELOC and work through my existing debt.

2. get the small HELOC and only withdraw half the money to pay off high interest debt.

3. get small HELOC and withdraw all the money to pay off high interest debt and auto loan.

4. get small HELOC and withdraw all the money to pay off high interest debt and 401k loans.

5. get large HELOC and withdraw all the money to pay off all debt.