I would consolidate it all by "selling the debt" to some
clever company with whom you can discuss a better interest rate, they pay your debt off for you then you just pay them, they get some good interest, you pay a lower interest... both win.
But you don't want to trust just about anybody, read up on it, get ammo first then it'll be easier, here you'll find tons more info than I could possibly
post here. It'll take a bit but it's your money and well worth
taking your time over it
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you!
2006-09-11 13:07:04
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answer #1
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answered by Anonymous
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So for experiments sake: you have 3 accounts of 600 each? and one account of $4000. Pay off the three accounts (bu bye and throw them away after shredding them!!) and put the $4K account over to a new card without an interest rate (again bye see ya later to the old card) and make your first payment of $200.00 (money left over from your original 2 grand) and keep making double the minimum amount due to maintain the 0% interest rate and get it paid off sooner. It will be so uplifting, or it will feel like such a burden gone if those 3 bills go away! And with a new 0% card you can feel n control of your financial destiny!
2006-09-08 20:31:39
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answer #2
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answered by Sidoney 5
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Both methods listed here are valid, here's a method to choose between them.
if you can do a balance transfer and get a 0% (or cheaper rate than the high one) by paying off the 3 card then that is fine, if not pay the highest rate first and the minimum on the others until the highest card is paid then move on to the next highest rate.
2006-09-08 20:55:26
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answer #3
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answered by ken 3
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This is easy! Get a new card with 0% interest on balance transfers till october 07, transfer your larger debt to this card, and pay off your other 3 cards. Pay toward the larger debt with your tax refund or save $ in an ING account till the 0% interest runs out!
Also you should stop charging things to your cards if you want to get out of debt. If you can't afford something, sorry you'll have to wait till you can! You should buy the book called the automatic millionaire. I bought it for my husband and we used to miss bills and have to eat noodles for a week but now our bills and savings get paid automatically and we get to spend the extra on fun!!
2006-09-08 18:47:49
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answer #4
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answered by Afinity 3
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you should pay off the highest interest rate cards first. Then work your way down. You will have to keep paying at least the minimum on the others until you are ready to pay them off. You are going in the right direction. Good Luck
2006-09-11 15:49:23
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answer #5
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answered by oilman11977 5
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pay the minimum payment on all cards, and with what is left over, pay toward the card with the highest interest rate. This will make next month's total payments the lowest.
2006-09-08 18:45:08
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answer #6
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answered by Stanley 3
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Well what I would do is put some on each of the other credit cards, and then witht he remaining money put it on the larger debt. that way you paid alittle on each.
2006-09-08 18:43:51
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answer #7
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answered by sexylittlemisstweetybird83 5
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pay off the 3 smaller ones and close em.
You'll NEVER have to deal with em again. they're OUT of your LIFE then...
mathmatically, you should pay the highest interest card first, but if you were doing math, you wouldn't be carrying balances on credit cards to begin with.
so, pay off smallest balances first, to get them out of your life.. it's not mathmatically correct, but you will enjoy not having to send out the extra payment every month..
2006-09-08 18:59:34
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answer #8
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answered by kvuo 4
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Put it toward the higher interest rate. You can always borrow it back if you need it or change your mind. In the meantime you'll be saving interest.
2006-09-08 18:42:29
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answer #9
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answered by yahoohoo 6
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