Share post
Share
Debt Consolidation Forums Debt Problems forums

How fast can I repay holiday debt?

Date: Mon, 01/11/2021 20:24
member profile picture
Posts: 1
Credits: 0
[Donate]

How fast is it possible to repay holiday debt? Somehow I have incurred about $5000 during the holidays in my credit card. I can pay it off with my savings. but I don't think it'll be a wise decision. My job is stable but don't know since many are telling that we can experience an economic recession.




The best solution according to me is you can opt for a Balance Transfer Card. With a 0% interest rate, you can repay your $5000-holiday debt.

Thus you can save money on interest.

Sub: #1 posted on Wed, 01/13/2021 - 23:14

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

Balance transfer is a good option. But I feel that it is better to pay off the debt with your savings. You have to pay off the debt at some point in your life. So, it is better to repay it now. As far as recession is concerned, you can try to do a side-hustle to build your savings.

Sub: #2 posted on Mon, 01/18/2021 - 23:01

David Martin David Martin

(Posts: 394 | Credits: )


DebtConsolidationCare (IAPDA member)
BBB (A+) logo for DebtCC
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2020 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 1.125 seconds.