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11-01-2009, 07:41 PM | #19 | |
╚══════════RN
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I'm trying to figure out how to best manage the payment of them. If there are any tricks/tips to doing this most effectively.
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11-01-2009, 08:35 PM | #20 | |
USAF_SrA_E-4
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We have a saying in Puerto Rico, It might not make much sence in English but it does in Spanish and to ppl who knows they prob. get it,
"La ultima cuenta la paga el diablo" "The devil will pay for the last bill (account)" they normaly say that when ur spending money that u aint got (creditcards) lol
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11-02-2009, 12:31 AM | #21 |
Drives: Yaris Sedan 5MT Join Date: Oct 2008
Location: SoCal
Posts: 865
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http://www.forbes.com/2009/04/15/stu...nsolidate.html
Here is a very good read for getting a gist of what to do. Some Cliffs notes are 1)fed loans consolidation doesn't help much but it does make it easier in that you are paying just one payment 2)Can't mix fed and private loans 3) Consolidation will help you get your parents off as the cosignors. 4) Longer payments will help, but you may end up paying more in the end because of the extended time. 5) Your credit score does help you get consolidation rates. ...there's more, read it, the article isn't that long. I say you knock off the small ones, as someone has already meantioned, it will help give you nice milestones to be proud of. Consolidate what you can and just hit them hard since (I'm assuming) you don't have family and children and you have a nice job (the RN I'm assuming again).
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11-02-2009, 02:01 AM | #22 | |
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Drives: 2010 Yaris LB (Prev: 07 Sedan) Join Date: Mar 2009
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11-02-2009, 07:43 AM | #23 |
DARK PHASE OF THE MOON
Drives: 07 liftback Join Date: Apr 2009
Location: the Boondocks, NC
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Perhaps a good place to start might be to do a spread sheet that told you the monthly and yearly total amount of interest due, and then you would know how much of your payments would be going to reduce your principle. You could then take the interest amount and play with it against different payment amounts to figure what percentage was going toward interest and what was going toward pay off. Compound interest tables are always useful in finding payoff period. Just off the top of my head I would pay only interest on the lower interest loans to keep the debt from mounting and concentrate on paying of the higher interest loans, sequentially in descending order based on their rates of interest.
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11-02-2009, 09:56 AM | #24 |
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get a job that pays the big bucks and pay those off.
if you are properly motivated you can pay those off quite fast. it depends on you, not any external factors. |
11-02-2009, 10:45 PM | #25 | |
Drives: Black HB Join Date: Oct 2008
Location: AK
Posts: 542
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Don't forget, eat lots and lots of ramen.
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11-03-2009, 05:37 PM | #26 |
Drives: 09' Meteorite liftback Join Date: Jul 2009
Location: Jeff,Indiana
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wow. we have $6000 worth in hospital/credit cards and i thought that was a lot. if u have the extra time i would get a part time job to help u pay those off faster.
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