April 2015

Since you have enough to pay off several, I would do so.

You can do this 2 ways.

First way: Pay off smallest to largest.

So with the money you have, you would do this. Pay completely off these cards:

  • $203
  • $270
  • $350
  • $573

Then pay $717 – and anything else you can dig up.

Then take all those other credit cards and CUT THEM UP and CLOSE the accounts.

Then you take all the payments from the previos and start putting them to the last card. So if you can send $800 to the large card – you have $613 assuming that your minimum on the smaller cards was $25 each and the larger card $50 – you would then have $150 per month to pay off the larger card. You would have that card paid off in 4.08 months if you pay $153.25 each month it is paid off in exactly 4 months.

The other way would be to pay from highest interest to lowest interest, but in this case I would not do that, because in the above method you get 4 cards paid off in one fell swoop, and the last paid off in 4 months. So you are done with credit card debt.