Need help...I may have ability to pay down debt!
Hi, I want to thank you for any help you might give me..
My main question is - what should I do with my finances? I've got an Auto Loan that is causing me at least $600/mo - (payments, insurance, high gas cost)
Should I pay off the Auto Loan and save myself $300/mo at least??
Credit cards and Auto loan etc
1st mortgage:
$115,000
6.3% fixed rate
$735/mo. payment
2nd mortgage:
$140,000
4.9% variable interest only for 9 more years
$300/mo. (was $780 last year!)
Citicards:
$8500 (maxed out)
7% for life of loan
$120/mo.
Bank of America:
$13.000 (maxed out)
6.9% until Feb 2010 and then 12% (if I'm never late)
Discover card:
$3700 ($2500 available credit)
6.9% until March 2010 and thereafter 12%
$80/mo.
Auto loan (loan requires $118/mo. auto insurance and has bad gas mileage)
$11,000 (4 years left on loan)
$280/mo.
8.49%
TOTAL cash available from emergency fund and cash savings - $15,000
TOTAL income is $2800/mo. (after taxes) and my TOTAL expenses total about $3000!
Thank you so much for any help!!!
Chris
Last edited by willowstudios : 03-02-2009 at 02:40 PM.
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