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Shifting Debt no longer working

Established Contributor

Re: Shifting Debt no longer working

@Sbrooks1 wrote:

For the last 2 years I have shifted debt between personal loans, 401 K loans, CC balance transfers etc... but I have continued to charge up CC after. I need a game plan to tackle this. Currently 23000 loan on my 401, a personal loan for a balance of 17000 and now another 8000 in CC debt. Guys I have to stop. I have no hobbies , dont get manipedis, but 4000 of my new debt is pet related. Advice or tips? I work FT about 60 hours a week as a salary RN Director, make only about 300 bucks more than I did last year. I can shift all I want right now with scores near perfect but that option is ending soon. 

I did Dave Ramsey. Paid off $30,000 in less than 1 year. I paid off my car loan, car leases and some student loands. My monthly payments have decreased by $2,000. No credit card strategy could beat this. Now I only care about sign up bonuses and use my credit score to make money off the lenders. I have zero loyalty to any banking institution. I have zero loyalty to "oldest credit card." My wife and I keep joint accounts consolidated with Chase because they are easy to use and we still have few credit cards sign up bonuses that we can obtain from them. 


Get those bad boys paid off Dave Ramsey style and then you will see it will be much easier to get new credit cards, it will be much easier to get nice SUBs and you will gain hundreds of dollars per month that you would otherwise spend on interest. 


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