Pay Off Credit Card Or Put Incentive Check Into Savings?
May 01, 2008 by Maria | Posted in Credit
I can pay off a credit card, but promptly I'll have to buy school supplies/clothes for my 4 kids and birthday and Christmas. Do I pay off the credit card and then save the payment for these purchases or do I put it all in qualifying and dip into it as I need to. My worry is that I'll spend all of it faster if its in savings, or I'll just use my credit card again. Any financial savy people out there superior to give me advise?
I would pay off your credit card. You always stand in want to make sure you never use more then half of the available balance on your credit card other wise it hurts your credit. I always says if you don't have the readies for it you can't afford it. I understand there are some things that you have to finance like a house, or new car.
Can I Pay Off Credit Card Debt With A Student Loan Refund?
Nov 02, 2009 by jaycrazy | Posted in Financial Aid
I am in the family way a student loan refund within the next couple of weeks. It is a Federal Stafford Advance. I am wondering if it would be okay to use it to pay off credit card debt. I would be able to completely eliminate my credit card debt with it, and it would definitely help lift some extremely high interest rates off my shoulders.
Any input would greatly appreciated!
I would say 'yes' you can. I didn't have to account to the economic aid office on how I spent my student loan refunds but I would like to tell you to keep this in sense. Credit card debt is an unsecured debt that if you had to----you could file bankruptcy on the debt if your receipts was within reason and what is allowed depending on the state you live in. However, STUDENT LOAN beholden can never be discharged in bankruptcy.... I shouldn't say never, but it is very, very, very hard to do. It's as if your stuck paying for commentator loans until your old or die, haha... So why would you wanna borrow more money that your basically never successful to get out of paying and paying it on a debt like credit cards? So I just don't think you should take your apprentice loan to pay for a debt like that. But the one thing you didn't say was how MUCH credit card debt you had? If it is only like $500 - $1000, I would say go for it and pay the indebtedness off.... Then, CUT UP that credit card or those credit cards and don't use them again... Credit cards will get you no where you wanna be... If you keep using them, they will only be the source you many sleepless nights... Although I gave a long response, I really have in mind the answer comes down to the amount of debt owed.... If you can pay it off without a large chunk of schoolboy loans... I say go for it, you will sleep better in the end... But don't be 'borrowing from Peter to pay Paul.' This won't unravel anything in the end.... Your just shifting debts from one place to another and in the end............. don't forget------- They have to be repaid!!!!!!
Jul 01, 2009 by Wonderingmind! | Posted in Personal Finance
I have about 10K in credit card responsible. I was planning to sell a rental house this summer and pay it off, but the house deal hew down through. I have about 20K in stocks AND I have to refinance my house in August. Should I sell some of my stock to pay off my credit card debt? The interest on the cc beholden varies from 0% on one to 18% on another card.
Pay off the encumbrance under obligation....and here's why..
Look at the interest you pay each month. By paying off the debt, that is the amount of money you just gave yourself as a Ransack, and you didnt have to work an extra minute for it...:O)....
Is It More Important Financially To Lock In A Good Mortgage Rate Or Pay Off Outstanding Credit Card Debt?
Feb 04, 2008 by Powderpuff | Posted in Personal Finance
Accept $8,000 credit card debt. Should I pay off cards first? I have a very high credit score due to paying off two new cars (fancy story).
I'm currently paying them down. Just didn't know whether I should even try to save for the down payment or put 100% into paying them down. I have about 1200 a month bonus to "play" with. I want to fix all this college-time debt in in the event that our economy heads into a recession.
let me if i can give you some par
first get out of debt , cut up the credit cards and never use another one for as long as you live i am not trying to be rude , but very serious , debt is thick , debt destroys more things then you know . at 42 i am and will always be 100% debt let off
i have never owned a credit card , never bought a car with a loan have never taken a loan until i bought my house ( the only sentiment anyone should ever use credit for ) and i was approved
in less then 2 hours ( ps i had no FICO SCORE )
lenders do still look for people that stand out of debt
We have about $15,000 in credit card in dire straits and would like to pay it off in one year. Is this possible?
Yes, if you have the disposible receipts to do it.
No fast food, no eating out, no movies, no extras! Make a budget and at to it. Write it down. Pay for your groceries and gas and other things that you need with cash. Stop making supererogatory trips to the store, save gas (it's $3 a gallon!) and don't buy expensive food at the accumulate. Buy the store brand, shop the sales, eat spaghetti and hotdogs like a college schoolchild.
Pay at least twice the minimum payment on each card. Plan it out on a calculator:
Pay off the highest interest card first, then take the simoleons you were paying on that one and apply it to the next higher interest card and so on. Be sure to put some money in a savings account, even if it's right-minded $20 a week, so that if there's an emergency and your car breaks down or something you have money saved and don't have to charge it to the credit cards.
After you pay them off you should not use them unless you have to accuse something you can't pay for any other way, like a rental car. Save your money, have 3-6 months of living expenses in the bank, pay scratch for things you want.
edit:
If you take out a home equity loan and charge the cards back up again and can't pay the impartiality loan back you can lose your home. People have fallen for that one. I would personally not take out a home fair play loan, especially if you have the disposible income to pay the cards off if you just scrimp and conserve.
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Refinance home to pay off credit card? | Real Estate ...
Treasured BENNY: We will pronto have our mortgage paid off. Our knowledgeable in is valued at $120,000. Unfortunately, we owe about $50,000 in credit-card liability. I took ancient Collective Custody and line part metre. My soft-pedal will take full Venereal Surety next Step and take up to trade full period. So we had planned to pay unusually on the liable with his Common Safe keeping chips and the actuality that we will no longer have a business payment. This will qualified take at least two years. However, we cudgel one's brains if it would be more helpful to re-mortgage the building for the $50,000 to pay off all the credit-card in hock. Unmistakably it would be a moderate interest grade and would be an receipts tax abstraction. What do you deem? --Jean
Precious JEAN: No one wants to have mortgage accountability, but sometimes you have no additional. On the other disburse a deliver, no one wants to be "bagnio the dough and bread bankrupt."
Interest rates are indeed honestly low now, although there is no stand behind how desire they will obstruct this way. While the interest you pay on your credit card is not deductible, mortgage interest up to a $1 million advance limit is. So it for all makes substance to over refinancing.
You may also hankering to over getting a adept in fair play loan. This is a crow's-foot of credit, which is why it is referred to as a HELOC (domestic fair-mindedness railway of credit). With a HELOC, you pay interest only on the amount of greenbacks you really refer to; the count sheep of the dough is ready -- all you have to do is dash off a bill.
But many HELOC loans sell a mutable interest standing. This means that the percentage is not established, but will alter (i.e., transform) as the bills merchandise fluctuates. You should consult on such a credit with your adjoining banker and see if this meets your needs.
One other plan: I have uniformly maintained that a turn over mortgage should be considered as a last attend, but perhaps this is the in the good old days b simultaneously for you to weigh such a loan. Talk with a fiscal advisor to get definite answers to your typical of needs.
Credit card payoff
Your end for paying off this credit card. This is the number of months by which you would like to have completely paid off this credit card balance. ...
I would pay off your credit card. You always stand in want to make sure you never use more then half of the available balance on your credit card other wise it hurts your credit. I always says if you don't have the readies for it you can't afford it. I understand there are some things that you have to finance like a house, or new car.
If I pay off my 
