What to do...
Find a Conversation
What to do...
| Tue, 06-30-2009 - 1:00pm |
I'm in decision mode.
I have a couple small credit cards and a couple mid sized cards.
| Tue, 06-30-2009 - 1:00pm |
I'm in decision mode.
I have a couple small credit cards and a couple mid sized cards.
Interest rates on the CCs might help us to help you.
I'll give you the guesstimate version....
CC1 - Balance of about $150 - interest at about 12%
CC2 - Balance of about $350 - interest at about 14%
CC3 - Balance of about $1800 - interest at 0% until 1/10
CC4 - Balance of about $1800 - interest at 12% until 4/10 when it gets jacked up to 20-something%
2008 Taxes - about $1800 - not sure of the interest... I know it's generally worse than CC's but it's been a mess trying to get the payment plan set up (No one gets as many IRS letters as I do! LOL!)
2009 Taxes - I'm anticipating about $2500 - No interest yet until 4/10.
Personally I would pay off the 150 like you planned. Then I would leave the next up the 350.00 go and make normal payments on it.
I would give the other money either to the 12% that is up in April or the 2008 taxes
Two
Jennifer
No matter what you do here you are headed in the right direction.
This is what I would do. I would pay off the smallest card to free up a bit of snow flake money and get the satisfaction of paying off a cc. I also own my own business and I know it not fun to get mail every other day from the tax man. It is soooo nice to not get those anymore. I would take the extra and send it to them. What about writing a letter saying you would just like your statements and you are doing the best you can. Make minimums on the rest and in the mean time search out another card with a lower interest rate so that in April you can transfer your balance of the cards that are going to get a rate increase? By then you should have the $350 one paid off? and be well on your way to feeling better.
Do you have a business budget set up that puts money away for taxes? I keep my business and personal separate, I find it really helps.
Good luck, you will be less stressy in no time.
Thank you everyone!
Well, the $300 hit my paypal today.