Here's the problem: My wife and I have some extra debt on a few credit cards. We were planning to have them all paid off by 2002, but with funds being tight that didn't happen. So now we have a plan for paying them off. We know what we can pay, and we know how long it will take us (summer, '02). You could say it's our New Year's resolution to pay off our debt. We are looking into getting a home equity loan to pay them off, then paying monthly towards that. It would save us money in interest, as the rate on the equity loan is much lower. Are there any drawbacks to doing this? The other part of our plan is cutting up our cards!!