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Monday's Help...

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SmartCookie
Valued Contributor

Re: Monday's Help...

I think re-opening anything that can be re-opened is a great idea.  If the interest would be unmanagable and counter-productive though it needs to be weighed against the potential positives.
 
Definitely have a huge amount more leverage with open accounts.
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Message 11 of 15
Anonymous
Not applicable

Re: Monday's Help...

Interest and fees are an issue, but those will likely continue to accrue on a closed account. However, if that were the case, then it's probably unlikely such an account would get re-opened.
 
Presuming all previously closed accounts could get re-opened, looks like there's enough to BT a few amounts and stop all lates, overlimits, etc.
 
Message 12 of 15
Boswd
Valued Contributor

Re: Monday's Help...

In any event of how yo tackle this with that extra $1,000 you should start snowballing your payments.  I like doing the snowball starting with the less amount owed up to the max.  Others like starting with the highest interest rate and working down that way.   Which ever one you choose you should start some form of a snowball effect.
 
In essence it's taking money you pay on one debt until it's paid off and then take the money you have been paying of the above mentioned (paid off debt) and rolling over that amount and add it on to the montly payment you are making on the next debt you want to tackle so forth and so forth.  IMHO it's the best way to get your debt paid off instead of trying to spread the wealth so to speak and really not getting anywhere with any of them.


Message Edited by Boswd on 12-03-2007 02:56 PM
Message 13 of 15
fishbjc
Senior Contributor

Re: Monday's Help...

Thanks guys....two accts closed by creditor, one closed by me.  I will not get a settlement, I intend to pay every dime since both BP and Chase were used to finance sons college education.  Down from $17,000 to $11,000 and counting.  No financial aid so the entire $58,000 paid by us GULP.
 
I'm currently working on selling unused items on eBay and am being quite successful, raising about $100 additional per week.
 
I will write to both accounts and ask them to reduce interest.  I have been able to make more than the minimums on all these accounts.   I'll know what the report says next week.
 
THANKS AGAIN!
 
 
 
 
Message 14 of 15
fishbjc
Senior Contributor

Re: Monday's Help...

Now that I'm being 'real' with myself I feel much better.  All medicals are paid in full (nothing to collection) Both student loans paid in full and on-time
.  My eye surgery is also paid in full.  It's been a long road, but with your help I'm determined to get the rest of debt 'right'. 
 
 
Message 15 of 15
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