Comments on: SERIES: Restructuring Debt – Part Three http://www.josephsangl.com/2008/08/15/series-restructuring-debt-part-three/ Personal Finances Blog Personal Finance Tools Dave Ramsey David Bach Robert Kiyosaki Debt Relief Investing Compound Interest Saving Thu, 18 Mar 2010 16:03:52 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: chris http://www.josephsangl.com/2008/08/15/series-restructuring-debt-part-three/comment-page-1/#comment-167264 chris Sat, 16 Aug 2008 01:07:49 +0000 http://www.josephsangl.com/?p=805#comment-167264 Turtle: You've got the right attitude. Get traction and improve the situation. You may not get to 0% yet, but with your stick to it attitude, you may get there and with no transfer fee. Jon: Yes, it's possible, but you may have to break it up between two or three 0% or low % surfs to get all or most of your debt moved. If you guys follow Joe's advice, you're going to beat the debt. It may take a while and there may be bumps along the way. But you'll get there. Turtle: You’ve got the right attitude. Get traction and improve the situation. You may not get to 0% yet, but with your stick to it attitude, you may get there and with no transfer fee.

Jon: Yes, it’s possible, but you may have to break it up between two or three 0% or low % surfs to get all or most of your debt moved.

If you guys follow Joe’s advice, you’re going to beat the debt. It may take a while and there may be bumps along the way. But you’ll get there.

]]> By: TurtleLover http://www.josephsangl.com/2008/08/15/series-restructuring-debt-part-three/comment-page-1/#comment-167064 TurtleLover Fri, 15 Aug 2008 15:08:37 +0000 http://www.josephsangl.com/?p=805#comment-167064 I had this one card, my highest balance and my highest interest rate (14.99%) they would NOT budge. When I started my journey this card was almost $13k. I told myself that when it got below $10k if they were still not willing to budge I would try for a balance transfer. I had been keeping all my credit card offers that came in the mail and reading the FINE PRINT trying to see what was out there, I had called this particular credit card every 3 months and asked to lower my interest rate, but no luck. It took almost a year to get below $10k ... I made that one final try (I had had this card for over 10 years!) they said no.. I tranferred to another card... the offer was 5.99% for 5 years with no balance transfer fee. Now, this is far from 0% intrest but there was no transfer fee and it cut my interest payment to 1/3 ! Since my plan is to be debt free in 3 more years I thought the 5 years was a great deal for me! You gotta do what you gotta do! I had this one card, my highest balance and my highest interest rate (14.99%) they would NOT budge. When I started my journey this card was almost $13k. I told myself that when it got below $10k if they were still not willing to budge I would try for a balance transfer. I had been keeping all my credit card offers that came in the mail and reading the FINE PRINT trying to see what was out there, I had called this particular credit card every 3 months and asked to lower my interest rate, but no luck. It took almost a year to get below $10k … I made that one final try (I had had this card for over 10 years!) they said no.. I tranferred to another card… the offer was 5.99% for 5 years with no balance transfer fee. Now, this is far from 0% intrest but there was no transfer fee and it cut my interest payment to 1/3 ! Since my plan is to be debt free in 3 more years I thought the 5 years was a great deal for me! You gotta do what you gotta do!

]]> By: Jon Smock http://www.josephsangl.com/2008/08/15/series-restructuring-debt-part-three/comment-page-1/#comment-167049 Jon Smock Fri, 15 Aug 2008 13:39:18 +0000 http://www.josephsangl.com/?p=805#comment-167049 By the way, this is a great series! I used the new tool from post #1 (<a href="http://kingspray.files.wordpress.com/2008/08/debt_aug_2008.gif" rel="nofollow">see here</a>). By the way, this is a great series! I used the new tool from post #1 (see here).

]]> By: Jon Smock http://www.josephsangl.com/2008/08/15/series-restructuring-debt-part-three/comment-page-1/#comment-167048 Jon Smock Fri, 15 Aug 2008 13:35:46 +0000 http://www.josephsangl.com/?p=805#comment-167048 What's the lowest balance amount you'd recommend doing this with? Is there a lowest number? Can you really "surf" $20,000 from card to card at 0% for years? That's probably a tough question, since different people have different amounts of expendable income to put towards debt repayment, but you probably have experience related to this. Have you ever told someone NOT to do this? What’s the lowest balance amount you’d recommend doing this with? Is there a lowest number? Can you really “surf” $20,000 from card to card at 0% for years?

That’s probably a tough question, since different people have different amounts of expendable income to put towards debt repayment, but you probably have experience related to this. Have you ever told someone NOT to do this?

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