Might as well make money off of all that lost sperm during personal recreation time huh? LOL

 

The way I got rid of my debt was that I deployed..
Works every time. 6 months = roughly 20K in added pay and benefits, more if you move out of your apartment and put your stuff in storage.

Results vary though.

 

LOL You can't spend that money when you are out digging sand or cutting holes in the ocean.

 

This is really quite simple, all you have to do stop using the cards, determine a time frame you want to be at 0 credit card debt, and figure out how much you are willing to pay per month. For example.

$10,000 / 36 months = $278 per month (assuming 0% rates). If you want to be more aggressive, great! The key is to stop using them for toys, food, etc. Dont cancel any cards, just keep them open with a 0 balance, this will help your score.

What are the rates on the cards? If you have a credit score of 700 or more you should qualify for 0% for at least 12 months, you can even find cards with no balance transfer fees! Then, once the 11th month comes around, find another 0% card and do it again, wash, rinse, reapeat until you are at 0 debt. I have been playing the balance transfer game for years, paying interest is for suckers. The key is to NEVER miss a payment. Here are some good links:

0% Credit Cards:
http://www.fatwallet.com/forums/mess...&keyword1=card

How to become debt free:
http://www.fatwallet.com/forums/mess...uest+debt+free

How to get and maintain a good credit score:
http://www.fatwallet.com/forums/mess...rd1=credit+faq

All this should be mandatory reading everybody.

 

Also, if you do get a 0% balance transfer card, DONT use it for purchases, as most cards have a high rate. And again, NEVER miss a payment, if you do, you will end up paying a higher rate, fees and have possible negative credit score implications.

 

I would take subie OCD's advice and donate sperm.

 

No, those loans are explicitly labeled for paying for student/tuition stuff. Its against the agreement for the loan to use it for this.

 

hahah leave it to you guys to take a debt thread and turn it into sperm donation. well played!

this is good advice guys, thanks. ocd, your plan seems the most thought out. i am linking my buddy to this thread today. maybe he'll take the spermin' seriously.

 

subie OCD knows all when it comes to finance. i kinda followed that plan right outta school and it got me outta debt. i was also down about $10k, and only making $30k/year. its all about consolidating debt into less payments, less institutions, and less interest. youd be surprised how much interest screws you when you actually do the math and compare it to how much principal is being paid.

 

stop using your credit card but do not cancel it,pay it off. if you cancel it will hurt your score.