I'm realizing my best bet is to probably snowball the 3 small balances ($500 or under each) then focus on the 3 bigger fish (4k, 2.5k, 1.3k)
Yeah the minimums on the bigger three make it difficult to make wiggle room just splitting my paycheck every time on them, my car/insurance, and loan.
I get probably $200 or more just from added interest charge on purchases after I make the big minimum payments that I'm like shucks i gave them all my money just for them to interest add half of it back on my balance regardless if i use the cards or not. They're made enough interest off my to prolly pay my debt off twice at this point. Wish I was as knowledgeable now as I was a youngin'. I'm stumped. Job changes over the last decade haven't helped stabilize it either.
We had $32k in credit card debt. I paid more than minimum every month. It just wasn't going down (our fault, we kept using them). Unfortunately, it took an inheritance to pay it off, but without the inheritance we would have figured out another way. We did have quite a bit of equity in our house so we could have gone that route but neither of us wanted to wipe out our equity. If I was in that situation today, with rates being higher, things costing more - we'd be in big trouble. I pray things work out for you.
The snowball method is a wise choice. I was trying to pay the amount of monthly interest on top of the monthly payment so that the balance would actually go down but with that much credit card debt (and adding more in every month), it was one step forward, two steps back.
Yeah I called my major creditors and told them to eff off. I might just ignore them for a month or two to fry the small fish and deal with whatever fees I incur from them by doing that in the future when I can get around to it.
Solutions sound easy when I'm not fully explaining other Cost of Living expenses outside of credit I also pay.
It's just more infuriating knowing that me and others are wastefully paying hard earn money to corps. Like what do the Bank of America's of the world actually do with all the generated profits? I don't even want to follow the money cause it probably funds shit we don't support and makes CEO's and other top dogs richer and in the 1% elite.
I'm realizing my best bet is to probably snowball the 3 small balances ($500 or under each) then focus on the 3 bigger fish (4k, 2.5k, 1.3k)
Yeah the minimums on the bigger three make it difficult to make wiggle room just splitting my paycheck every time on them, my car/insurance, and loan.
I get probably $200 or more just from added interest charge on purchases after I make the big minimum payments that I'm like shucks i gave them all my money just for them to interest add half of it back on my balance regardless if i use the cards or not. They're made enough interest off my to prolly pay my debt off twice at this point. Wish I was as knowledgeable now as I was a youngin'. I'm stumped. Job changes over the last decade haven't helped stabilize it either.
We had $32k in credit card debt. I paid more than minimum every month. It just wasn't going down (our fault, we kept using them). Unfortunately, it took an inheritance to pay it off, but without the inheritance we would have figured out another way. We did have quite a bit of equity in our house so we could have gone that route but neither of us wanted to wipe out our equity. If I was in that situation today, with rates being higher, things costing more - we'd be in big trouble. I pray things work out for you.
The snowball method is a wise choice. I was trying to pay the amount of monthly interest on top of the monthly payment so that the balance would actually go down but with that much credit card debt (and adding more in every month), it was one step forward, two steps back.
Yeah I called my major creditors and told them to eff off. I might just ignore them for a month or two to fry the small fish and deal with whatever fees I incur from them by doing that in the future when I can get around to it.
Solutions sound easy when I'm not fully explaining other Cost of Living expenses outside of credit I also pay.
It's just more infuriating knowing that me and others are wastefully paying hard earn money to corps. Like what do the Bank of America's of the world actually do with all the generated profits? I don't even want to follow the money cause it probably funds shit we don't support and makes CEO's and other top dogs richer and in the 1% elite.
Sell plasma, get a PT job, etc... 10K is a small amount of debt. Even @ 30% APR that's 250 a month interest...