Paying debt

Visitor (not verified)
anonymous user
Registered: 12-31-1969
Paying debt
1
Sat, 01-09-2010 - 8:36pm

Ok I am really getting serious about paying off our debt. We are planning to start trying for #2 later this year.


So I have a question. We have 2 cards we are paying off


Visa @ 5% and 9,154.63-if we take 36 months to pay it off its $277.61 per month


Line of credit @ 6.7%

iVillage Member
Registered: 01-11-2010
In reply to:
Mon, 01-11-2010 - 7:11pm

There are a couple of ways to approach this. How did you calculate the payment for 36 months? You have to calculate the APR on an annual basis.

You can either pay is (since your APR is low compared to others) Or enroll in a Debt Resolution Program. I am not here to solicitate, but I work for a Debt Resolution Company which can lower you payment, but it will effect your credit.