What do ya'll think?

iVillage Member
Registered: 06-20-2008
What do ya'll think?
4
Tue, 03-03-2009 - 1:16pm
I am going to try and look at my debts differently
Before I just added all my debt together, now I'm going to split them credit cards by their self so it doesn't look soooo big, we have about 19000 in credit cards, and we're not going to use them again because almost all of them have raised their rates, so we opted out of them, in secured debt we have around 55000, our house and all the furniture in it is paid for so we don't have that worry Looking at all of it together it seems like a gigantic mountain that we can never climb, maybe splitting it will help.



[url=http://www.TickerFactory.com/debt/w9REIyy/] [img]http://tickers.TickerFactory.com/ezt/t/w9REIyy/debt.png[/img] [/url]
iVillage Member
Registered: 04-10-2003
Tue, 03-03-2009 - 1:38pm
I think its a great plan! If it keeps you motivated and on track, then do it! I personally think that no one plan is right for everyone, and you have to do what works for you. The fact that you are no longer using your CC's will make them go down that much faster!

Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 08-02-1998
Tue, 03-03-2009 - 1:57pm
I think splitting it up that way will help you see that the debt isn't unsurmountable. Taking it a bit at a time makes it doable. I think you will also see the progress you are making easier by having it split up.


Sharon





iVillage Member
Registered: 08-04-2008
Tue, 03-03-2009 - 2:04pm

Sounds like a plan that might work better.


I have an income statement that lists all my debts on one tab per year, I have a starting place for each debt's January 1 balance, interest column, min payment column and current balance column with an amount paid column.




iVillage Member
Registered: 10-01-2008
Tue, 03-03-2009 - 2:23pm

I think it will give you a better sense of accompolishment.

Norma


"Patience is the best remedy for every trouble"- Plautus