Help! lol...Should i take out this particular loan in order to pay this Credit Card Debt?? will cut up cards? - 17k credit card debt
Loan 1: $ 15,000 10.99% Fixed $ 327/mo 60 months
Loan 2: $ 20,000 10.99% Fixed $ 435/mo 60 months
Credit Card Debt:
CARD1 April) $ 3,800 / $ 4,000 9.9%
April Card2) $ 11,210 / 11,250 $ 14.49%
card3) $ 3200 / $ 10,000 (purchase) April 13,99%
$ 2,400 / $ 10,000 (spring) 22,99% April
Total: $ 5,600 $ 10,000
Total minimum payments on all cards: $ 480/month
If I * $ 20,000 (Loan 2) I want to pay the balance on the card 2 a.m. to 3 p.m. (approx. $ 17K) ... and applied $ 1,500 1. on the map And left me with about $ 1,500.00 in savings ...
Is it generally a good idea to make this type of loan 2 credit card debt reduction? This approach is OK? Could be a need for 1? How can I distribute the money on the cards or if the loan that best fits?
PS - I'm lookin 2 Increase credit scores to get a house or a car in a few years.
The answers we are very grateful! Thanks in advance! :-)
Sunday, January 31, 2010
17k Credit Card Debt Help! Lol...Should I Take Out This Particular Loan In Order To Pay This Credit Card Debt?? Will Cut Up Cards?
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While the loan is not secured by property. Never trade unsecured debt for secured debt!
ReplyDeleteWhen you do a consolidation loan, including funding based on the interest rate on the card - the highest rate of interest is the first money, so the steady accumulation of debt, the largest expansion.
If you can get small loans, it is better, and $ 1,500 in "savings" that may appeal an interest of 2% or 3% will continue to be a loser if you pay 11% for silver first.
This strategy is back in the construction of more debt!
Do not pay attention to the debt and the interest is what's on your head first. Pay attention to the debt and interest. These things are only good if you choose!
Go here: http://www.bankrate.com/brm/calc/MinPaym ...
and insert the number of its credit card with the actual cost to make minimum payments to be calculated. After the horrors of which you are on the way!
If the lender is willing to bend your 20K pace and consolidate. Just do not create more debt later.
ReplyDeleteIf the lender is willing to bend your 20K pace and consolidate. Just do not create more debt later.
ReplyDeleteA credit card debt, and WAN-to resolve as quickly as possible. Suppose you stop creating more debt. Do you have your ways. They also understand that the payment by credit card \\ \\ \\ \\ \\ \\ \\ \\ u0026lt;! - Make deposits with a consolidation loan or rolling out of a mortgage. In fact, while getting rid of an interest rate lower, but the payment of the debt for many years, usually means paying more, not less.Okay if you really want to credit card debt.
ReplyDeletehttp://bestcreditcards.freehostia.com/Credit_Card_Debt.html
First you must understand that debt not all equal. Of course they do. Some cards have an interest rate higher than others.Find and budget for money to start paying these balances. If you are a pizza a week, for example, can spend $ 60 or $ 80 a month there -> If you, as you pay your debts seriously, you have to eat $ 4 frozen pizzas for the "moment. Do what You have to do, and how the debt can be applied each month.