Question about credit cards
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|Mon, 03-31-2003 - 2:43pm|
In the past two months, I sold my house and paid off the mortgage (which I only had for a year)and paid off $15000 of $17000 in credit card debt that had accrued for 10 years. The only way for me to ever pay that credit card debt off was to sell the house. And I recently got divorced so selling the house wasn't a big deal anyway, I lucked out really.
I still have $2000 in credit card debt that I want to get rid of as soon as possible. I vow to never rack it up again. I have my car loan and my student loans. My student loans are in forebearance until the end of this May, so I need to act fast.
My budget is very tight, I watch every penny, but even with the credit card minimums gone, it is still tight. I am trying to put every penny to that last $2000 in credit card debt.
I have $1500 in savings and that's it and I hesitate to use that because I need something in case of emergencies. I might just use $500 of it soon. In the meantime, I am on the lookout for any offers to transfer the balance to a lower interest (right now my interest rates are high - 15-28% on 3 different cards).
Since I had all that debt I wasn't able to apply for any other credit, but now that some has been paid off, and the mortgage, I might start getting a few offers. My goal is that by July 1st, the last of the credit card debt is gone, but I want to keep at least $1000 in my savings account and my car is due for a costly 60,000 service soon.
Anyway, any other suggestions.
I want to pull my credit report soon and look over it. And I was thinking about trying to refinance my car loan. Right now I have $8500 left at 8.5% and another 2.5 years to pay it. My student loans are really going to kick me in the butt. I have $80K in student loans.