Sentences with phrase «making minimum payments on your other debts»

Even though you're paying a lump sum on one debt, you should continue making minimum payments on all your other debts.

The plan might involve establishing a repayment pecking order, having you focus on paying down high - interest debts first while making minimum payments on other debts.

Meanwhile, you continue making minimum payments on other debts.

This means making minimum payments on all your other debts and putting as much as you can toward the card with the highest interest rate.

Although you want to focus on one card at a time, you still must make the minimum payments on your other debts.

We would pay off our highest interest rate debt first while making minimum payments on our other debts, then proceed to our next highest interest rate debt and continue until all our debt was paid off.

The Snowball Method, popularized by Dave Ramsey, told us to pay off our debt with the smallest balances first while making minimum payments on our other debts.

The Snowball Method, popularized by Dave Ramsey, told us to pay off our debt with the smallest balances first while making minimum payments on our other debts.

Not exact matches

As with credit card debt, your strategy is to figure out which loan you want to pay off first, and make the highest payments possible on that one while maintaining minimum payments on the others.

«Make minimum payments on the necessities and other debt, and pump as much money as you can into your highest rate credit card or loan,» she said.

On the other hand, if you're struggling to make your monthly minimum payments or you have a large amount of debt, a debt management plan may be the better option for you.

You may want to consider other options if you owe more than your annual income in the form of «bad» debt (e.g., high - interest credit cards or payday loans), you simply can not make minimum payments on time, or a debt management plan can't reduce your monthly debt payment to a manageable amount.

Using the snowball method, you can pay less overall interest and pay off debts faster if you pay off the credit card with the highest interest first and make only minimum payments on the other credit cards.

Starting with either the largest or the small debt (your choice), pour all of your extra money into paying down that debt while still making your minimum payments on all of your other debts.

This assumes that you are allocating a fixed total amount to paying off your debts so that everything left over after making the minimum payments on the other credit cards goes to paying off the one with the higher interest rate.

This week, new research from TransUnion found that Canadian consumers who make more than the minimum payments monthly on their credit card debt are also more likely to make higher payments on other types of credit as well.

The debt avalanche approach, on the other hand, involves paying the loan off that has the highest interest rate first while making the required minimum monthly payments on the other loans.

Make minimum payments on all of your other debt, but add any extra dollars you can squeeze out of your budget to the payment for debt number one.

TransUnion found card holders who only made the minimum payment had higher delinquency rates not only on credit cards, but also other debts like mortgages and car loans.

If you're making the minimum payments and you can afford to make a little more, then you might consider a debt snowball where you send a higher payment to one of your credit cards each month (while making the minimum on all your others) until that card is paid off.

To make sure your debt is under control, total up the minimum monthly payments on your credit cards, car loans, student loans and other debts.

You'll make higher payments on this debt and minimum payments on all other debts.

You may want to consider other options if you owe more than your annual income in the form of «bad» debt (e.g., high - interest credit cards or payday loans), you simply can not make minimum payments on time, or a debt management plan can't reduce your monthly debt payment to a manageable amount.

On the other hand, if you're struggling to make your monthly minimum payments or you have a large amount of debt, a debt management plan may be the better option for you.

Pay the most you can toward the debt with the highest APR while making minimum payments on the other accounts.

On the other hand, if all your debt carries lower interest rates, you may decide to continue making minimum debt payments and investing your extra cash.

If you have more than one debt balance (such as several different credit cards), making more substantial payments on one account while continuing to make at least the minimum payments on the others can help you to focus on reducing these balances one at a time.

However, if you and your significant other are experiencing a financial or life hardship, or struggling to make minimum payments on your high - interest debt, a better plan may be to enroll in a debt settlement program together.

Start with the smallest debt and throw as much money at it as possible while making minimum payments on the others.

Find the debt with the lowest balance, send as much money as you can to it, and continue making minimum payments on your other accounts.

Some other things that can have a negative impact on your credit score include large amounts of debt, making minimum or zero payments, repossessions or filing for bankruptcy.

The snowball method focuses on paying off the smallest debt first, regardless of the interest rate, while still making minimum payments on your other card cards and debt.

It's important to send your extra funds to the highest interest rate debt that you cary first, breaking down your highest cost debt while making minimum payments on all others.

Focus all your extra money on paying off one debt at a time and making minimum payments on the others.

You can use the «Debt Snowball» method to pay down your credit card debt: List your credit card balances from highest to lowest and begin by aggressively paying down the card with the lowest balance first, while making the minimum payment on your other accounts to keep them currDebt Snowball» method to pay down your credit card debt: List your credit card balances from highest to lowest and begin by aggressively paying down the card with the lowest balance first, while making the minimum payment on your other accounts to keep them currdebt: List your credit card balances from highest to lowest and begin by aggressively paying down the card with the lowest balance first, while making the minimum payment on your other accounts to keep them current.

If you're just getting by and barely making the minimum payments on your credit card, your mortgage, or other debts, you may be able to get some relief by filing Chapter 7 bankruptcy in Tennessee.

Starting with either the largest or the small debt (your choice), pour all of your extra money into paying down that debt while still making your minimum payments on all of your other debts.

If you have more than one credit card, consider a debt payoff plan like the debt snowball method, which allows you to pay more toward one credit card each month, while making minimum payments on the others, until that card is paid off.

Solution: The best strategy to paying down your debt at a faster rate (and save you tons in interest payments) is to focus on paying more than the minimum payment on your highest interest rate account while still making minimum payments for your other debts.