I just wanted a little advice about paying off debt. We have 4-5 credit cards with balances between 1,000-2,000 dollars on them and one large personal loan with a balance of 5800. All of the credit cards have gone to collections and the personal loan we are behind by 1400. This month my husband had a ton of overtime and I was able to save 6000 this month. What is the best way to start paying off this debt? Pay the one big loan and then start on the credit cards, pay the credit cards then the loan, or catch up on the loan and pay off as many credit cards as possible with whats left, or something else?
Asked by Anonymous at 8:12 PM on Jul. 12, 2011 in Money & Work
Answer by ria7 at 1:47 PM on Jul. 13, 2011
Answer by BeachyBabe at 8:22 PM on Jul. 12, 2011
Answer by BeachyBabe at 8:24 PM on Jul. 12, 2011
Answer by rkoloms at 4:54 AM on Jul. 13, 2011
Answer by whitepeppers at 9:18 AM on Jul. 13, 2011
Answer by RMott at 11:17 AM on Jul. 13, 2011
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