I have other kind that will be paid off in 2.5 years. I will be ok then. However, I am not betting any profit from my job versus my monthly debt. I don't want interest to eat me up. Do I have any options besides paying the minimum each month? Thanks!
smahadevan39
Favorite Answer
If possible apply for a loan from a Bank, if required by the Bank introduce a cosigner
If Bank loan is not available, you may dispose off some of your asset and clear the credit card dues. The charges and interest rate on credit card dues is very high. Yiu can buy a better asset in future, once this problem is over.
StephenWeinstein
Yes, you have another option besides paying the minimum. You can pay more than the minimum. You can pay any amount that is more than the minimum. If you have enough money, you could even pay all $20K at once. Just don't pay less than the minimum.
Michael
What's there to tell you? You need to reduce your spending and increase your income. The more aggressive you get with cutting your spending and/or working a 2nd job, the faster you'll be able to dig yourself out.