Home > Tag Archives: pay off debt

Tag Archives: pay off debt

3 Credit Card Math Mistakes That Are Costing You Money

Credit cards

Twenty years ago when Michael Riley first released his Credit Card Math tutorial, most people had no clue how interest on credit cards work. In fact, his revelations about how credit card interest and payment methods worked were considered so shocking that they ended up being featured in a national news program’s investigative report. Fast forward to today, and a ... Read More »

Pay Off Debt A Growing Canadian and U.S. Concern

Pay Off Debt searches in Canada

According to a HuffPo article, it seems our friends in Canada are beginning to worry a bit more about their personal debt levels. Data by Google shows the search term Pay Off Debt has been trending for Canadian searchers. From the looks of the chart though it is an on again, off again interest for Canadians who have hit a ... Read More »

3 Critical Tools for Paying Off Debt

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This is the time of year when many people look at their debt situation and shudder. They dream of what it would be like to be out of debt. And, if they’re brave, they begin to plan a strategy to reduce the amount of debt they carry. They’ll begin with high hopes, but many of them will quit before reaching ... Read More »

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

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“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” Dear Taylor, If you’ve come into some extra money I’d first suggest you save a third of it before ... Read More »

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

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“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. We also have a collection ... Read More »

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

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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 be best to sell the ... Read More »

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

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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 it better or worse to ... Read More »

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

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“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 from work. Is it best ... Read More »

Victory and Disappointment for the Debt World Today: Total Debt Falls While Harassment Complaints Rise

CNN Money’s recent article, “Debt collectors get nasty” showed some real insight into the current debt collection process in this country. They touched on information reported by the Federal Trade Commission, FTC, about the number of complaints of debt collector harassment issues on the rise. Apparently these debt collectors haven’t heard of a little thing called the “Fair Debt Collection ... Read More »

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

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“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 about $1000 per month. I ... Read More »

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

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“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 now so the spending isnt ... Read More »

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

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“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. Joseph” Dear Joseph, The quickest ... Read More »

How Can We Easily Pay Off Our High Interest Rate Debt? – Dea

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“Dear Steve, We have high interest rate credit cards totalling $60,000.00 that we need to pay off. We own a home. We think it would appraise for about $250,000 & we owe$198,000. We own two 2002 vehicles. We would like to get rid of the credit cards expect one a piece with a low limit. We are both full time ... Read More »

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

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“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 have been very fortunate to ... Read More »

Which Debt Should I Pay Off First, Credit Card or Personal Loan? – Sean

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Sean “Dear Steve, I’m a 20 year old college student around $2000 in debt, with two credit cards and one personal loan. What should I pay off first? The credit card with the highest balance or the one with the higher interest rate, or the loan. What effects my credit score the most? Sean”   Dear Sean, Personally, I like ... Read More »

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