@parkbuilder wrote:Due to an ugly child custody battle, my wife and I were forced to start relying heavily on various credit and store cards just to cover our bills and put food on the table. As you can imagine we racked up some high utilization and our scores sufferd big time. Month after month we paid the minimum balances on each card which of course did us absolutely no good at all. I did some research and discovered the "Debt Snowball" method. I've seen some that loved the idea and others that hated it but I'm here to say that it is working for us! In a matter of 5 months we were able to pay off CFNA, Kohls, Old Navy, Wal Mart, Paypal and Capital One and we aren't stopping there. We are down to balances on only three cards totaling around $3,000 and plan to have that taken care of by November of this year! Hopefully our scores will jump back up so we can secure financing on our first home!
I agree. It is a very rewarding strategy despite the efficiency rebuttals of other ways to tackle debt.
Congrats!
Current Score: EX 712 4/28/15, TU 713 4/14/14 lender pull, EQ 723 9/16/15, 740 EQ bankcard 8 6/1/15 lender pull
Capital One, Credit One, and Barclay's paid off now!!! Only Amazon and Capital One Quicksilver to go and all cards will be at a $0 balance. So excited to see what my scores will look like once all bureaus are updated 
