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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Bankrupt or try to 'gut it out'? Date:  11/14/2012  7:28 PM
Author:  aoeuid Number:  306427 of 312188

To V:

Also take half of any tax return amount and put to credit card debt. Paying off highest interest ones first (the other half goes to saving for emergencies).

Having a plan is the first step. It depends on whether the plan works, and that will require time.

***Yeah, I think need to make a visual bar graph of some kind to see if things are working, plus it could be a motivational tool if in fact 'the plan' is working.

What is the interest rate on the Discover Card? Since it has a much smaller balance than the other accounts, it is a candidate for being paid off first.

***I agree. It is less than 700 bucks. The interest rate is 10%.

Thanks for sharing your thoughts.
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