payments

Date: Tue, 06/02/2009 - 12:35

Submitted by islefan3949
on Tue, 06/02/2009 - 12:35

Posts: 273 Credits: [Donate]

Total Replies: 2

I am currently working with care one a debt management program to take care of my payments to my credit cards. My payments this month will be my last one for one of my credit cards, my balance will be completely paid off. My question is should i take the amount that was being applied to that card and apply it to a card with a higher balance which would be a card i have with about 4,300 or the one that i have with the next lowest balance which would be about 850?

You should pay off the cards in ascending order of balance, i.e,

You should pay off the cards in ascending order of balance, i.e, pay off the cards with lower balance first and then move towards the higher ones. This will help you to pay off the maximum number of debts you have.

lrhall41

Submitted by Carol79 on Tue, 06/02/2009 - 23:07

( Posts: 99 | Credits: )

Carol is right- that's how I did our debt. I paid the one off,pu

Carol is right- that's how I did our debt. I paid the one off,put that payment along with the original payment to the next lowest, and so on, until they were paid off. Alot of people go with the highest interest one first, but I am a person that needs to see results fast, and this worked for me.

It made me feel good when that first one was done and gave me more incentive to put all I could into the next one to pay it off. Things were really tight for a while, and there were times I thought about using that money for something else, but didn't.

Good Luck--keep us posted..karen :D

lrhall41

Submitted by Bossy4455 on Wed, 06/03/2009 - 08:39

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