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 Posted: Wed May 14, 2008 8:13 pm |
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3500 credit card debt, 35000 income, best way to get rid of debt, at 3.99 fixed - 1500, and the rest soon to be at 9.99 percent
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bchristian_1
Joined: 14 May 2008
Posts: 1
Debtcc Points: 15
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| Posted: Wed May 14, 2008 8:55 pm |
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I would just keep paying your bills . Those are not bad interest rates and $3,500 in debt is not worth your time doing any kind of debt help program. Just pay alot more than the minimum payments.
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mobile0311
Joined: 05 May 2008
Posts: 696
Debtcc Points: 3860
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| Posted: Wed May 14, 2008 9:24 pm |
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Hello Friend,
From your post it seems to me that you have a total credit card debt of US$3500 among which you have to make an interest rate payment of 3.99% on $1500 and 9.99% on the rest $2000.
In such a situation, are you facing problem in managing the accounts? debt relief can only be suggested by seeing the severity of the debt problem you are in.
a) First of all, you have to assess your own debt condition which I believe you have already done.
b) Then prioritize your debt. It is always advisable to handle one account at a time. So, try to prioritize the different credit card debts.
c) After this make a list of your various expenses and again prioritize them. You should also check out your total income of the month and fit your various expenses in accordance with the priority. If you want to spend more then you can also increase your income by taking up a part time job. In addition to this please try to curtail your non-priority expenses.
Even after this if you find it difficult to manage your debt then you can always go for debt consolidation.
Regards,
Phoenix
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phoenix
Joined: 14 May 2008
Posts: 325
Debtcc Points: 2616
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justinhi5
Joined: 22 Apr 2008
Posts: 86
Debtcc Points: 638
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| Posted: Thu May 15, 2008 2:14 am |
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Thanks Justinhi 
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phoenix
Joined: 14 May 2008
Posts: 325
Debtcc Points: 2616
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