No. of Recommendations: 3
I am looking for ideas/guidance on how to get out of debt. Also, what time frame are we looking here?

Two other pieces of information would be helpful.
1. Minimum payments on accts
2. How much you can spare each month for debt repayment. Obviously the schedule will be much different if you are putting in $500/month or $5000/month!!

With nearly $77,000 in debt (NOT counting your car or mortgage), your debt repayment plan will likely not be a short one.

Also, if you are an Excel user, check out the Snowball calculator link to the right ------------------------------->
(For the snowball calculator, you will need the info you listed, plus the 2 items I mentioned)

General wisdom on this board is to tackle this higherst interst rates first. In your case, that would be your Optima Platinum then the Line of credit. If your (or your husband's) credit rating isn't too tarnished, you may be able to negotiate lower interest rates with your creditors or qualify for low-rate balance transfers. Lower interest rates mean that more of your money goes towards the debt each month. Other people here on this board can tell you how to negotiate with the creditors for lower rates.

Once you track your expenses for the month of August, you will probably find areas where you can cut back, to add to your debt repayment "snowball". (i.e. extra cable channels, or lots of restaurant meals, or the morning latte!) Sometimes it's the small expenses that really add up, and you don't realize how much $$ you are spending!

Good luck!

Snie
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