hubby and i currently living with my parents due to his job relocation, I have thirteen thousand total on two credit cards with very low APR's (some from hubby being laid off and not finding work for three months). Living with my familiy is driving him nuts (my parents are very high strung and he's from the south) but i'd like to stick around for a few months to pay it down. His opinion is: since it doesn't cost us hardly anything we might as well take our sweet old time paying it off. My opinion: I'm feeling like it can't be good for my credit score espec. because we are planning on buying a house sometime in the next few years. Also, when he graduates in three years we're going to have a LOT of student loan debt... $70,000? thanks for any and all advice!!!
2007-01-22 23:34:36 · 6 answers · asked by Sean 1 in Business & Finance ➔ Credit
p.s.- this isn't chris lol it's his wife, sorry for any confusion...
2007-01-22 23:36:12 · update #1
The more you can pay off the better. If you want to buy a home I would suggest you try to have no debt when trying to secure a loan. To many foreclosures loan company's don`t like to take chances. Also when you do get a home loan get a fixed rate mortgage not a arm ( adjustable rate mortgage) Good luck.
2007-01-22 23:43:28 · answer #1 · answered by bill a 5 · 0⤊ 0⤋
initially, do not beat your self up about utilizing your charge playing cards at the same time as in college. it would want to no longer were a sensible decision, notwithstanding that's executed and there is not any thanks to undo it now. Do you've some thing you may promote on eBay or Craigslist? Any added money you may arise with would properly be utilized to pay down the debt. in case you actually won't be able to diminish any prices, perhaps you may generate some money by technique of promoting some issues. have you ever contacted the mastercard organizations to work out in case you may negotiate a extra effective deal? in case you'll get them to diminish your pastime cost and also you nonetheless make an same funds you're literally, you'd be paying off extra of the stability each and each month. Does between the charge playing cards have a decrease pastime cost than some thing else, and room to move various the balances of the different playing cards over? in case you may move any of the balances onto a decrease pastime card, that's yet in a unique thanks to make your present day charge bypass further each and each month. i might want to take yet another seem at your month-to-month prices as well. even with in case you had to modify from intense-speed to dial-up internet or downgrade another price, you would possibly want to arise with some more advantageous money. each and every little bit can help you.
2016-12-02 22:40:08 · answer #2 · answered by anuj 3 · 0⤊ 0⤋
I am in a similar situation; I am living with my parents and in the process of paying off my student and credit card debt. By living with Mom and Dad, I am budgeting to be debt-free by September. If I lived on my own, I would barely be able to make a dent into my debt, since the funds I am currently using now to pay off my debt would go to rent, utilities, etc.
And my parents are driving me nuts too. I would recommend sticking it out and getting that debt taken care of, and when the parents drive you and your husband nuts, just go for a walk around the neighborhood.
2007-01-23 00:59:26 · answer #3 · answered by Michael L 2 · 0⤊ 0⤋
What do your parents think, if he's not happy living with them it's very possible the feeling is mutual.
Could they would they lend you the 13k, pay of the cards, and move out.
He's happy, your happy, everybody's happy
2007-01-22 23:49:13 · answer #4 · answered by edoubleyou 4 · 0⤊ 0⤋
I would get your credit card paid because its a lot off your mind then isnt it.
2007-01-22 23:43:09 · answer #5 · answered by richardwales79 3 · 0⤊ 0⤋
get the cards paid off and tear them up.
2007-01-22 23:46:55 · answer #6 · answered by barb 6 · 0⤊ 0⤋