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Results tagged with debt-reduction
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user 44232
The act of paying off debts (either partially or completely). One may do this to lower or eliminate a monthly payment and regain control of one's personal finances. There are different ways to do this, but the most popular are based either on the total amount of each debt or on the interest rate. There are different arguments as to which one is better, but either is better than doing nothing but paying the minimums.
141
votes
What should I do with $4,000 cash and High Interest Debt?
Every $1,000 you use to pay off a 26% interest rate card saves you $260 / year.
Every $1,000 you use to pay off a 23% interest rate card saves you $230 / year.
Every $1,000 you put in a savings acc …
- 43k
85
votes
Accepted
Multiple loans, multiple payers - how to snowball fairly
First off, your commitment to paying down debt and apparent strong relationship with your brother is admirable. However, I think you are overcomplicating your situation and potentially endangering you …
- 43k