UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next
Author: EJD45 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308475  
Subject: Getting Started in the PAYOFF Date: 1/30/2001 5:28 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Well, I think it is time to get serios about paying down those obnoxious CC's. I have been a lurker on TMF mostly, but this month was the last straw!

I work commission totally, and am tired of those months which are "short" in the paycheck. This last holiday season was pretty ugly in the ole paycheck. I decided that it is time...

My current debt is:

Sallie Mae Student Loans $11,400 @ 8.125
Bnk of America 3,492 @ 22.40
Bon Marche 644 @ 21.6
Sears 5,819 @ 21.0
First USA 11,900 @ 12.9
Chase 5,287 @ 20.8

My plan is to start with the Bon and begin the snowball. In order after that, will be B of A, Chase, Sears, First USA, then Sallie Mae. Of course that will leave the mortgage remaining. I have the agreement of the spouse. SO, we are committed!

I'm afraid to calculate how long this is going to take. What do you guys out there think? Advice?

Thanks for your help!!

Eric
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Macro Economics

2.1: The Labor Pool Problem
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement