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Old 08-28-2009, 01:15 PM
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Radiance Radiance is offline
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Join Date: Jun 2009
Location: MiramAr, FL
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Default My plan to be debt free

This is my current debt, in the order I want to pay them off, I am doing it by balance

Amex
Balance: $542
Interest: 27.24%
Available balance: $1600
Monthly interest fees: $15
Annual Fee: None
Monhtly minimum: $15

Visa
Balance: $2800
Interest: 12.99%
Available balance: $4200
Monthly interest fees: $31
Annual Fee: None
Monthly minimum: $50

Personal, non revolving loan
Balance: $5890
Interest: 16.45%
Monthly payment 360, out of which 85 is interest, 275 goes to principal
Monthly interest fees: 85


Car loan

Balance: $9410
Interest: 5.95%
Monthly payment 297, out of which 49 is interest, 248 goes to principal
Monthly interest fees: 49 ---> corrected

Paid for accounts

Care Credit
$5000 available credit @ 23% (only for health services)
Annual Fee: None

Master card
$1000 available credit @ 24%
Annual Fee:19

I think that is the correct sequence for paying them off.
Now, which cards would you keep after all is said and done.

I think I will cancel the Master card since it was an annual fee
What do you think?

Last edited by Radiance : 09-04-2009 at 08:00 AM. Reason: Car loan fees were wrong
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