Paying down Debt - Am I doing as bad as it looks:( Help)

[Maya12]

God I posted I had 5-7 accounts...Wrong!!! Had no idea until I put down on paper.

But, Looking at it, help me to keep pressing foward.

The Progression slow but steady. Utilization is in toliet I suppose.

Dell:                  715.19/1,500 - Interest rate is outrageous 29.9%

Capital One     192.29/500 - Increased in 2007 after 6 yrs at a 200 limit

Merrick Visa     368.88/1150 - Recent increase.

HSBC: MC       884.42/1220-

HSBC: Visa      553.91/1200. - Recent increase.

Zales                391.75/1000

Sears               0/500

Lowes Visa      0/500

SST Visa         0/300

Walmart           0/300

Target              0/200

JcPennys         0/750 - Made final payment yesterday.

BIG BADDIES

Closed Accounts - Charge off

Paying these on time every month.

*HomeDepot      197.62

*FCNB              543.29

[Anonymous]

You've got a little over $3K if you stop now and don't add to it, you should be able to pay this down over time, even if it's just a few hundred dollars a month.

But the key is just that: stop increasing your balances. If you need to, take our credit cards out of your wallet and put them away where you won't use them.

[myfico5378]

Your utilization isn't horrible!  Sure, it's not the ideal 0-9%, but it's just over 30% which isn't as bad as a lot of us.  I saw this website posted by someone else here and I LOVE IT!  http://www.whatsthecost.com/snowball.aspx?country=us

Put in all of your debts and how much you can spend monthly on these debts and it will show you how much to pay on each one to get them paid off the quickest.

[Maya12]

Thanks you guys are the best. Will keep you posted on my progression.

[MidnightVoice]

---

myfico5378 wrote:

Your utilization isn't horrible!  Sure, it's not the ideal 0-9%, but it's just over 30% which isn't as bad as a lot of us.  I saw this website posted by someone else here and I LOVE IT!  http://www.whatsthecost.com/snowball.aspx?country=us

I am so glad that is the fiscally responsible snowball not the idiot Ramsey smowball! 

[tonsers]

---

@myfico5378 wrote:

Your utilization isn't horrible! Sure, it's not the ideal 0-9%, but it's just over 30% which isn't as bad as a lot of us. I saw this website posted by someone else here and I LOVE IT! http://www.whatsthecost.com/snowball.aspx?country=us

Put in all of your debts and how much you can spend monthly on these debts and it will show you how much to pay on each one to get them paid off the quickest.

---

Wow, cool website! Thanks for sharing!

[Maya12]

Thank you so much, This site is awesome. http://www.whatsthecost.com/snowball.aspx?country=us

I love'd it, it gave me a great plan to follow.

[myfico5378]

---

MidnightVoice wrote:

---

myfico5378 wrote:

Your utilization isn't horrible!  Sure, it's not the ideal 0-9%, but it's just over 30% which isn't as bad as a lot of us.  I saw this website posted by someone else here and I LOVE IT!  http://www.whatsthecost.com/snowball.aspx?country=us

I am so glad that is the fiscally responsible snowball not the idiot Ramsey smowball! 

---

I've always tried to follow this method (i.e. paying highest interest cards first), but I really love this calculator!  I've played around with it and even put in my expected mortgage with my debt to see how quickly I could have ALL of my debt paid off if I continue to contribute the same amount of money.  It's a lot of fun to use! 

[MidnightVoice]

I did the mortgage and Heloc for fun