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Michelle8284

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I received a credit card consolidation loan for 17,000 but needed 28,000 to pay off everything.
I need advise on which cards to pay off. The payment for my new loan will be $425 so I definately need to assure that I have at least that much less in credit card payments : )However, I just cant decide if I need to pay off a few big ones (I have a total of 7) or some small ones and a couple of big ones or half of all of them. I've tried several different combinations but I'm scared to do anything, but definately need to do something before my consolidation loan payment is due and I still all of my credit cards to pay Thanks for any help : ) Michelle

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Do what feels best to you.  Paying off the ones with the highest interest rate will save money.  The ones with the smallest balances are easiest to get rid of, you can pay them off entirely and get a great feeling plus have fewer accounts to deal with.  Either way you go, you'll be helping your credit score slowly rise as you pay down or pay off the credit cards.  Just don't close them after paid off or you'll lose the history and damage your score more.  To learn more, visit www.credit.about.com and click on tab "Pay Off Debt" - lots of great free advice and you don't have to sign up or anything.  Best of luck!

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