what some of the experts say to do - sm

Posted By: mazzel on 2008-07-02
In Reply to: Paying down debt - Overwhelmed.

Pay off the highest CC debt first, then take the extra money from that payment when it is paid in full and apply to the next highest one, and keep going in that manner, but always make the minimum payments on everything. Most experts say do not by any means take out any type of LOC on your house no matter what because if something happened and you could not make that payment then where would you be? It took time to get in debt and it will take time to get out. Many experts also suggest getting a second job if that is what it takes to pay the debt down. You can do it!!!

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Paying down debt - Overwhelmed.
- are your taxes and insurance in with - Linda
- It is possible to increase your income - mtstudent
- Pay off highest interest rate debt first, then the next, and onto the next. The house can wait. Do - Suze says
- wow you pay 350 a month for a HOUSE? - where do you live, i'm moving
  - A very small town in West Texas - Overwhelmed.
    - good luck, i hope it works out for you - ((((hugs)))))
- daveramsey.com is a good one for you . . . nm - gazelle
- Well, my better judgement said - Overwhelmed.
  - Agree with poster above. DO NOT take $ out of 401K...sm - ex animo
- debt - rebecca goede
- what some of the experts say to do - sm - mazzel
  - ACTUALLY, it is pay off the smaller ones first . . .sm - DEBT
    - LOL -Yep, what is what I MEANT to say - sm - mazzel
- Some advice -- been there myself, - mtroadie
- Paying Down Debt - Overwhelmed2
- Have you considered a home equity loan to - mtmtmt
  - Yes, but I am not too sure how that works. - Overwhelmed.
    - I know it's popular, but don't put unsecured debt on your home. - mtstudent
    - have you ever thought about sm - i feel for you

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