Question: > Hayitzm…@msn.com wrote:
If anyone needs info on debt consolidation of credit cards email me…Patrick
Cut them up….pay off the smallest one, then attack the next smallest one, and > so on…. Debt consolidation only TRANSFERS the debt…it doesn’t remove it.
I’d start with the one with the highest interest rate.
Answer: Forgive me if this has already been posted but, I found a free software program on the web that has helped me a lot in this area. You can play with the settings to see how long it will take you to pay off your debts by highest interest rate first, smallest payment first etc. There are two versions of this program one of them is free and one is not. The free one is called Debt Relief and the other one is Debt Analyzer. I have only tried the free version and I really like it. http://www.debtanalyzer.com/download.htm
Hope this helps someone!
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A technique called “snowball” says to pay off the smallest one first, but then add that payment to the next one until it’s paid for, then add both of those payments to the next one and so forth. Paying off the smallest one first also gives a feeling of accomplishment early on so you don’t get discouraged. The real key is to cut them up NOW before their paid off so that you won’t add more problems
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