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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="Common" data-source="post: 10105075" data-attributes="member: 51809"><p>This is common sense here to tell you you make zero sense, again.</p><p>Card#1 $9,000</p><p>Card#2 $5,000</p><p>Loan to cover the assumed negative equity = $4,500(which is WAY optimistic but I'll bite)</p><p></p><p>That is $18,500 of debt in small loans and no car payments any more. Dedicating $1,200 per month to this debt will get him out of it at 15 to 18 months depending on the interest amortization is on the loans.</p><p>Not to mention he now has to come up with funds for other transportation etc etc etc.....</p><p></p><p></p><p>According to your flawed math he will be now 18,500$ in debt, at 1,200$, he will be debt free in 15 months(AT MOST OPTIMISTIC BEST WAY) which happens to be well over a year. Your blind optimism is nice but wrong. He will not be out of debt in "months"......:rollseyes</p></blockquote><p></p>
[QUOTE="Common, post: 10105075, member: 51809"] This is common sense here to tell you you make zero sense, again. Card#1 $9,000 Card#2 $5,000 Loan to cover the assumed negative equity = $4,500(which is WAY optimistic but I'll bite) That is $18,500 of debt in small loans and no car payments any more. Dedicating $1,200 per month to this debt will get him out of it at 15 to 18 months depending on the interest amortization is on the loans. Not to mention he now has to come up with funds for other transportation etc etc etc..... According to your flawed math he will be now 18,500$ in debt, at 1,200$, he will be debt free in 15 months(AT MOST OPTIMISTIC BEST WAY) which happens to be well over a year. Your blind optimism is nice but wrong. He will not be out of debt in "months"......:rollseyes [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Need financial debt advice(paying off)
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