@Reighn9 wrote:
@Anonymous wrote:
It sounds like your DTI is too high so banks get very narrow minded about refinancing. Only option would really be to lower your DTI. Can you list out all of your debts with balances and interest rates. With the auto loan being at 7 months left, to start with I would make minimum payments on everything else and put all extra money towards this to try and get it payed off. However, without knowing all of your debts and interest rates it is hard to give you advice.
Example:
Credit card 1 $5,000 balance min payment $200 interest 25%
Credit card 2 $1,000 balance min payment $50 interest 12%
Credit card 3 $3,000 balance min payment $100 interest 18%
Autoloan $7,000 payment $700 interest 5% 7 months left
Mortgage $100,000 payment $1,000 interest 3% 25 years left
Electric $200/month
Food $400/month
and so on
You really don't know what you are asking Here is a list of debts and monthly expenses
Automatic payment withdrwn on 1st from checking $ 17.55
Mutual of Omaha Insurance
Automatic payments withdrawn on 5th from checking $1518.88
@ Includes: Personal Loan 3317.95 @ 11.99% $150
Blue Cross/Blue Shield $191
Insurance-AIL $ 18.25
State Farm Car/House Insurance $459.63
@ State Farm Bank $5932.16 @4.34% $700.00 auto
Household Expenses
Mortgage Payment-none-paid off $ 0.00
Electric-average billing $ 395.00
Gas-average billing $ 40.00
Gas-rental property not rented-average billing $ 25.00
Water-metered $ 70.50
Cable-includes tv expanded basic-no premium $ 223.33
phone-landline
interntet-100mb unl data
home security
Cell phone-basic talk-750 mins-2 lines $ 97.65
Groceries-food & non-food $ 600.00
Lines of Credit & Credit Cards Outstanding
@LOC 1 $ 4595.00 @ 11.75 $ 139.30
@LOC 2 $ 9097.90 @ 12.00 $ 189.00
@card 1 $13753.79 @ 15.15 $ 124.50
@card 2 $12262.00 @ 16.99 special plan $ 252.00
@card 3 $ 8989.62 @ 23.15 $ 264.00
@card 4 $ 2660.00 @ 24.99 $ 40.00
@card 5 $ 8080.94 @ 15.49 $ 160.97 Card 6 $ 7366.47 @ 10.49 $ 181.76
@card 7 $ 5309.18 @ 18.49 $ 225.23
@card 8 $ 5920.72 @ 20.24 $ 139.00
@card 9 $ 5750.00 @ 22.60 $ 171.00
@card 10 $ 578000 @ 16.24 $ 141.00
@card 11 $ 4730.13 @ 8.65 $ 0.00
@card 12 $ 4463.16 @ 19.24 $ 114.21
@card 13 $ 3832.64 @ 19.24 $ 104.00
@card 14 $ 2251.85 @ 23.15 $ 61.00
@card 15 $ 2604.46 @ 21.49 $ 77.00
@card 16 $ 2619.18 @ 20.24 $ 68.52
@card 17 $ 2100.00 @ 25.15 $ 71.00
@card 18 $ 1499.92 @ 20.15 $ 75.00
@card 19 $ 1019.04 @ 23.24 $ 29.00
@card 20 $ 1646.58 @ 22.24 $ 48.00
@Anonymous, I'm tired of entering these, I've been trying to get help since May 2015 when one situation got out of hand and I lost income. It has just gotten worse with more problems arising, many beyond my control. Youprobably won't have any advice-no one does at this point. This is where I stop getting responses. BTW there are 6 more cards with balances and several without. Total balance is $5670.29 with average interest @ 26.0% and average min. $28.
I would tweak that budget a little - IMHO, the cable company is doing you no favors with that bundle. Dry DSL will run you 20-40 bucks a month, add a vonage line for 15 bucks a month (or a magic jack for under 5), and drop the cable TV and subscribe to Netflix and Hulu (under 20 bucks a month combined). For the cell phones, I personally use tracfones - costs me 25 bucks each (2 phones) about every 2-3 months depending on how much we use them. Replace all your lighting in the entire house with low wattage LED lights. And as another poster said, be a little colder in the winter and a little warmer in the summer. Probably close to $200-300 a month in savings right there.
Order all of your CC account from lowest balance to highest. Use the snowball method to pay them down - pay minimum on all but the top one. Every extra dollar goes on the top one until its paid, then roll it all into the next one.
