nwcdrfinancial
New Poster
Cash: $ 0.40
Posts: 2
Joined: 24 Jan 2011
Location: Hollywood, FL
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[quote="littleroc02us"]Pay off that T-mobile debt first and then pay the minimum on the others. When you do pay that off you will feel a sense of accomplishment. /quote]
Don't ever just pay the minimums! Paying the minimums can result a balance dragging out to about 20 years, with thousands in additional interest. Try to pay at least $20 over the minimum, which will cut your payments down to a few years. There should be a detailed breakdown on your statements explaining this, it;s part of the credit act that passed last year. I know BofA has it!
If it gets to a point where you can't even pay the minimums, much less over them, then you may need to seek the assistance of a credit counseling agency to negotiate your debt (sometimes this is tough with student loans, but at least for your accounts in collection), that way your paying more towards your principle and less getting thrown to interest.
Best of luck!
Bobby Blackmon
NWCDR Financial
www.nwcdr.com
877-282-7587
Your Credit is Your Life!
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