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SVTPerformance's Chain of Restaurants
Road Side Pub
Need financial debt advice(paying off)
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<blockquote data-quote="SM0KE" data-source="post: 10104075" data-attributes="member: 27007"><p>Exactly. </p><p></p><p>Regardless of negative equity, sell both cars and pay cash for beaters to drive around for a while. This is going to require you to get a personal loan from your local bank in the amount you're upside down (assuming you don't have the difference in cash laying around somewhere). Using the extra $1,200+ coming in every month, within a matter of months you should be able to knock out that credit card debt, and the loan you take out for the difference on the cars. </p><p></p><p>And yes, pay off the smallest credit card balance first (making minimum payments on the other debts), then apply that amount to the next debt along w/ the extra $1200, from getting rid of the cars. </p><p></p><p>Good luck, man! I know it's probably not the most popular way of doing it, but using this plan you'll be out of debt in no time!</p></blockquote><p></p>
[QUOTE="SM0KE, post: 10104075, member: 27007"] Exactly. Regardless of negative equity, sell both cars and pay cash for beaters to drive around for a while. This is going to require you to get a personal loan from your local bank in the amount you're upside down (assuming you don't have the difference in cash laying around somewhere). Using the extra $1,200+ coming in every month, within a matter of months you should be able to knock out that credit card debt, and the loan you take out for the difference on the cars. And yes, pay off the smallest credit card balance first (making minimum payments on the other debts), then apply that amount to the next debt along w/ the extra $1200, from getting rid of the cars. Good luck, man! I know it's probably not the most popular way of doing it, but using this plan you'll be out of debt in no time! [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Need financial debt advice(paying off)
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