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  1. 02-12-2008, 05:12 PM #1
    dwnloom
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    Default I need help with cc's

    Ok, first I know that we are getting enough money back in taxes to pay off a huge chunk of our bills, however, how do I go about handling the ones that are late? Do I forgo paying one off to bring all others current? This is not house or anything like that just cc's.

    Any advise is greatly appreciated and needed.

    Thanks,

    Dawn
    Dawn

    Wife of Alan - 22 yrs
    Mom to Ryan 20 & Tori 17
    Pups - Frito - rip 6/12/11, Bandit, Pebbles, Sophie
    Kitties - Pookie

    EF -
    Bills -
    New Home/Land 50/30000
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  2. 02-12-2008, 05:33 PM #2
    Cricketlegs
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    Default

    Dave ramsey says--GET CURRENT before you do ANYTHING!

    Then the $1000 EF

    Then start paying off debt smallest to largest.

    It is a sound method and it does work.
    The math never lies, budget in INK!

    Amount of Free items 2012 $391.33


    Debt #2 12/31/12 CC $901.88
    Debt #3 12/31/12 $3648.83

    Madness, mayhem chaos...my work here is done!
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  3. 02-12-2008, 11:31 PM #3
    dcompton
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    Default

    I agree - catch up first.
    Donna

    Use It Up:
    Lapghans completed: 4/20
    Squares in the Someday Box: gotta count them!
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  4. 02-14-2008, 07:57 PM #4
    zazenist
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    Default

    And do consider a debt consolidation program from a respected firm that does credit rehab. I did several years ago, and I ended up paying a lot less in interest and am now CC debt free. It doesn't look particularly good on your credit report, and that scares a lot of people away, but the negative is actually not as bad as you might think since you are actually paying those bills instead of racking up late payment after late payment. My credit is now pretty good. But I agree with everyone else - get out of debt first!
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  5. 02-14-2008, 09:31 PM #5
    KJayEsq
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    Have you read The Total Money Makeover yet? If not - do so immediately, but I agree with everybody else - get current.

    Then get on a budget and start working on the rest.
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  6. 02-14-2008, 09:38 PM #6
    FrugalMomof3
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    I agree, get current first ... that's important and the first step.
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  7. 02-14-2008, 11:29 PM #7
    prairiewife
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    Bring everything you can up to date. Start your ef and then make your minimum payments on the others to keep them current if you can.

    Dave Ramsey has alot of advice about paying off old debts. Sometimes a company will be willing to take a smaller payoff just to get the debt taken care of. You might try calling some of the cc companies and trying to settle on a lower amount. His radio show gives information on this. I can't get it in my area so listen to archived shows the next day on my computer.
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  8. 02-14-2008, 11:40 PM #8
    babbyb
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    Talking Get your emergency fund in place first...

    Quote Originally Posted by Cricketlegs View Post
    Dave ramsey says--GET CURRENT before you do ANYTHING!

    Then the $1000 EF

    Then start paying off debt smallest to largest.

    It is a sound method and it does work.
    I have to agree with Cricketlegs here. Get an emergency fund set up ASAP. From there, start paying the debts smallest to largest. Are any in a collection agency now?

    You can do this!

    I have killed over 15k in debt and have 8k left to being debt free!

    Annie
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