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merliesmom

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Too much cc debt..want to pay off..can't get loan to help..

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Please do a search for Dave Ramsey because he has very smart, workable ideas on how to accomplish this.  It takes a bit of strategic planning and dedication to accomplishing this goal, but it can be done.  Stop using credit cards but DO NOT close them.  Lock them up someplace safe and don't touch them until you reach your goal.

What I did was to cover necessary living expenses first (housing, utilities, food, transportation).  The remainder of the monthly budget went to debt repayment and I made sure the minimum payment was going to be made on all cards, but one card was going to get minimum plus however much additional I could pay on it until it was paid off.  Then that money would be added to the minimum payment for the next card on my list until it was paid off.  It starts small but 'snowballs' in effect as each card gets paid off and the result is the cards end up getting paid faster than you originally thought possible. 

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