I paid off 1/2 of my consumer debt. I owe at this point a remaining $6,800 which I'm hoping to tackle in the short-term future (by end of summer). I have (as of tomorrow) $4K to apply. Here is what I need to tackle:
$2,300 @ 3.99%
$2,700 @ 0% til Nov 08
$1,700 @ 0% til March 09
Divide it equally among all three?
Total payoff of the $2,300 then apply the balance to $,2700 on line 2?
Pay off those at 0% because interest will be higher than 3.99 when balances come due (though I hope to have them paid off).
I will also have another $1,000 at the end of the month to throw at this.
Help Deciding What to Pay Off?
June 12th, 2008 at 03:14 pm
June 12th, 2008 at 03:19 pm 1213283966
June 12th, 2008 at 03:39 pm 1213285183
June 12th, 2008 at 03:55 pm 1213286144
June 12th, 2008 at 03:56 pm 1213286163
June 12th, 2008 at 04:07 pm 1213286864
June 12th, 2008 at 04:32 pm 1213288363
June 12th, 2008 at 05:24 pm 1213291444
June 12th, 2008 at 06:11 pm 1213294304
In the grand scheme of things, it really doesn't matter how you do it because the amount is small, the rates are low and it will all be gone very soon. The order you choose will only make a very minimal difference in the overall amount repaid.
That said, I would pay off the $2,700 first since it is the one that will reset to a higher rate the soonest. Then, I'd move on to the $1,700 to be sure that one gets repaid before the 0% expires. Then take care of the 3.99% loan last.
June 12th, 2008 at 10:06 pm 1213308410
June 13th, 2008 at 02:04 am 1213322673
June 13th, 2008 at 09:56 pm 1213394196
June 19th, 2008 at 10:13 am 1213870423
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laura green
Well, I think that if you're in serious debt, you should get in touch with a company which provides expert debt advice on various solutions to become debt free, and which doesn't take any money for it, like a not for profit organization.
debt advice
debtadvicetrust.org/debt/debt-advice.html
July 3rd, 2008 at 07:29 am 1215070143
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sara lee
http://www.debtadvicetrust.org/debt/debt-advice.html