May 2015

Yes, I would definitely call and see if they will lower your interest rates or take a lesser amount now as a full payment or defer payments… Especially if you haven’t missed payments up to now. Make a case for why you have the hardship you do and why it is likely to continue. Figure out what you are able to pay a month after making this 1798 payment.

As far as order of paying off with what you have on hand there are many ways you could apply the money. If calling your creditors succeeds in getting the payments lowered to fit with in the amount you have… then YEAH! If not… Here are some ways to apply it…

  1. Highest Interest rates first… (saves you the most in the long run).
  2. Smallest First… Makes you feel like you have paid off the most bills and gives you momentum to keep paying. Leaves you $813 on the large bill to pay…
  3. Largest First … You can pay the others off more easily and may feel like you are not under the same load. You will have these left to pay: $270,203, and 350 plus $188 left of the 570.

Make sure to pay your minimum payments on the ones you don’t pay off…… Good luck.. Hope this makes sense.