Tag Archives: payoff debt

Which is the Best Debt to Pay Off First? – Taylor

“Dear Steve, I have some extra money this month and wanted to know which was the best way to go. Pay on the cards with the smallest balances or highest or is the better route the one with highest interest? Taylor” The Answer: Dear Taylor, If you’ve come into some extra money I’d first suggest [...]

I Love My Job But Need to Payoff Debt and Start Saving. – Anne

“Dear Steve, 28YRS OLD. SINGLE MOM OF A 10YR OLD BOY. LIVING W/ MOM.FILLED BANKRUPTCY 5YRS AGO AND RUINED CREDIT AGAIN. ABOUT $50,000 STUDENT LOAN DEBT(FEDERAL AND PRIVATE). NEWLY EMPLOYED AFTER BEING UNEMPLOYED FOR 6 MONTHS. THE JOB IM WORKING NOW IS WHAT I CONSIDER MY “DREAM JOB” AND I PLAN ON WORKING FOR THIS [...]

Which Cards Should We Close As We Get Out of Debt? – Kenneth

“Dear Steve, Working to correct years of “The Great Credit” frenzy. My wife has a Chase Visa balance $15K Max limit and Amex Balance $4K max limit. I have Citi Visa $0 $24K limit and Discover balance $12K max limit. I am a user on her cards and she is a user on my cards. [...]

Am I Better Negotiating a Lower Pay Off or Just Pay them Off in Full? – Shannon

“Dear Steve, I am a college student and since I’ve been in college I have acquired some credit card debt. Within the past year I found a better paying job and have been able to pay down my debt. I haven’t been late on any payments and I have been paying more than the minimum. [...]

Should We Sell the House to Pay Off Our Debt? – Mark

wife and i are 55 years old, both work full time, two kids, one in college, one out, both went thru school on PLUS loans, we owe mortgage and home equity loan, plus lots of credit card debt, which may all equal the selling price of our home. at our ages and situation, would it [...]

Is it Better or Worse to Pay Off My Debt This Year? – Brandi

I have a personal loan from about five years ago. I am paying on time every month. The balance at the beginning of this year was $7,500. I have since paid it down (using a second job and a bonus from work) to a little over 3,000. It is the only debt I have. Is [...]

Should I Pay My Debt Off in Full Or Do It Monthly? – Dave

“Dear Steve, I have $5000 credit card debt on one card with 11.9% APR. This debt has hovered around the 4500 to 5000 amount for about a year, as I have been paying off the minimum monthly payment each month, but have been hit with fees. My question is: I just received a $5000 bonus [...]

We Have Money to Payoff Our Debt. Is That a Smart Thing to Do? – James

“Dear Steve, My wife and I have 7,000 in credit card debt and 17,000 in cash in our savings account. Is it better to pay off the credit card debt to $0 and have 10,000 in cash left or is it better to pay off the cards a little at a time in chucks of [...]

I Was in the Military, Got Out, and Ran Up Debt. – Carolyn

“Dear Steve, I was in the military for a couple years, got used to plenty of extra spending money due to not having any rent or bills. I didn’t stop spending money once I got out so I ended up racking up the credit card bills. I’ve stoped using the cards for almost a year [...]

What is the Fastest Way to Get Out of Credit Card Debt? – Joseph

“Dear Steve, I have 4 credit cards with the total of $20000. What is the fastest way to get out of these credit card debt? Been paying the minium payment for a long time. even consulted with companies but not sure they are a good solution in terms of how it will effect my credit. [...]

I’d Like to Cash Out My 401K, Get a Home Equity Loan and Reinvest it in an IRA. – Rik

Rik “Dear Steve, Hi Steve, you’re a good guy for helping so many people. We have $90,000 credit card debt all at %25, about 1/3 from unwise spending, the rest from medical bills, and taxes we couldn’t pay due to medical bills. I have been fighting minimum payments for years and years and can’t do [...]

We Received a Big Settlement Check and Want to Pay Off All Our Debts. – Rebecca

“Dear Steve, We have received money from a settlement that was won. The money is enough to pay off all our debts, with the exception of student loans. We are paying off all our credit cards and car loans. Between me and my husband, we have 12 open credit accounts and 2 car payments. We [...]

I’m Working Down My Debt After My Divorce. How Can I Stay Motivated? – Janie

Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question. Click here. “Dear Steve, After my divorce, [...]

Where Can I Get a Loan for $800 to Payoff My Debt With Bad Credit? – Terri

Terri “Dear Steve, I NEED $ 8,000.00 TO GET OUT OF DEBT. I HAVE BAD CREDIT. IF I CAN GET THE MONEY, I WILL BE ABLE TO REPAY THE LOAN IN EIGHT MONTHS. THE DEBT IS NOT DUE TO CREDIT CARDS, IT’S DUE TO FALLING BEHIND ON HOUSEHOLD BILLS, SUCH AS RENT, ELECTRIC AND SO [...]