I'm paying $1500 for three credit cards every month. And, this is the minimum monthly payment I'm speaking about. If I can pay $3000 extra every month, then I can pay off the debt by mid 2017. My total savings is $10000. What do you suggest? Should I pay less on credit cards and build emergency fund? Should I use the $10000 to pay off credit cards?
Consult a debt expert or ask for credit counseling for further help.
Sub: #1 posted on Mon, 07/11/2016 - 22:52
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It’s better if you can pay a bit more than your minimum monthly payment. If you pay $3000 toward your credit cards, you can become debt free soon. I’d would suggest you to contribute the rest of the money to an emergency fund. It’d give you protection during your rainy days.
Sub: #2 posted on Thu, 07/14/2016 - 04:28
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You can save on interest payments.
It will help you to improve your FICO score.
You can start savings again to secure your financial future.
However, you should talk to an expert before making the final decision.
Sub: #3 posted on Fri, 07/15/2016 - 05:07
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Sub: #4 posted on Tue, 07/19/2016 - 05:38
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