The Motley Fool Discussion Boards
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 308045|
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.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|