what amount of money would clear your debt?
917637
check this out I have £20.000 of debt then an £90.000 mortgage, a flat that is worth £115.000 if sold, no job and a car with half a tank of petrol and a boot full of tools oh and £0.25 cash, and to top the lot I used rapid restart on the jobseekers allowance after having two weeks work and have to wait 3 weeks to sign on then a further week for the money, hardley surviving on bits of cash paid work. Thanks a bunch Ben French. Would you be annoyed watching 12 years hard graft go down the swanny. 30 years old 35 years before retirement and the whole flat measures 17'x17' this diabolical and I earn good money when I can = £28000 to 35000 a year, so much for electricians.
728068
No, it would clear my debts and leave me £20,000 which is enough to lose me my benefits but not enough to do anything with. I would not turn it down though
292290
Before I learned how to repair my credit.......ZERO....now that I have cleaned my credit and did it on my own.......let's just say I have more than I need and I use them all and all are at zero balances. Always pay in full. They aren't getting a red cent of interest off of me. If you must really know......5 visa, 10 mastercard, 1 discover, and 5 american express.
1141786
Yes, I believe so.  The best course of action is a debt management company instead of borrowing more.  Try In Charge Debt Solutions.  A friend uses them and seems very satisfied.  They call all your creditors, get your interest rate removed or reduced and consolidate your monthly bills for a lower payment than your total is now.  They charge a small monthly fee but the pay back amount is still less than if you did nothing.  Just do an internet search on In Charge Debt Solutions and they come up along with several others.
1034946
To be honest there is no set amount, but I can advise this off of what I have read this past year. Think about your bills right now. then think about what you own and what you are still paying off. Then think how much you make. Gets so numbers written down.  If you are struggling base of what you makin not then your not ready to retire.  You want to be able to cover all the cost of your bills for as long as your not work. There is no one set number. Just the more you have the better.
908651
It sounds fishy.   If you have that much money to give to someone else,  just pay off your own debt and that will help you too.  I know when I opened to much credit too fast, it hurt my credit score a bit and were only talking about 1500 dollars.  This company is talking about credit lines of 10-15 thousand each.  That could show you as out of control and a credit risk and lower your score.
266411
I would pay off all my debit...Cars, house, college, credit cards...All of it. I would change everything in my house that I have wanted to. Buy all the land around me, so I have privacy. Give 10% to my church. Come up with a good amount to give to my loved ones. Set up a college fund for my son. Go on more vacations. Donate to charities annually...There are so many things I would do. I would NOT blow it. I would NOT buy a new home or a bunch of new cars. I would make my life a bit easier and help others do the same.
362046
probably not as much as you would if you started debt collecting with it ;).
112888
I HIGHLY recommend the sites listed below for help and advice. Take it one day at a time. Start with a budget.Eliminate anything that is not a neccessity. Pay what you can. Start with your neccessities first. home, auto, health, etc. With anything left over start paying the minimum on unsecured debt. If you have anything left over pay more than the minimum on the highest interest debt. When that is complete then roll those payments into the next highest etc. Good Luck!
143896
The best plan is to get on a tight budget, work extra, sell stuff, and put all the extra money toward the debt.  Check out http://www.daveramsey.com and the forums there for additional information on becoming debt free.\n\nGood luck.
487930
I would say no more than one year's salary of low interest debt (college tuition, room, and board) and $1000 of credit car debt. If I assume you get a job earning $35k per year, you should be able to pay off your credit card debt in 12 months as well as make loan payments.
133927
Snowball technique:\n\n1. Look at all old debts. Rank them from easiest to hardest to pay off based on total owed, minimum payment due, and (tiebreaker) highest interest rates.\n\n2. While making minimum payments to all other debts, pay this one, PLUS as much extra as you can swing- AT LEAST an extra 10%, but the more the better!\n\n3. As soon as this one is paid off, apply all of the payments you WERE making on it to the next debt in line, WHILE still paying the amount on it you were. By this time, you should be paying about twice the minimum so this one will go faster.\n\n4. Repeat for each other debt- the monthly payment will be getting bigger and bigger, paying it off faster and faster.\n\n5. Throw whatever 'windfalls' you can at this also- tax returns, bonuses, etc.\n\nThey say the snowball will get you debt free in the quickest amount of time- even faster than consolidation loans, etc. One nice thing about it is that YOU are in control of it. If you HAVE to hold back some of the extra money once, no big deal.\n\nPS- this is the technique that a lot of 'get out of debt quick, send money for info' schemes tell you to do.
710827
This is just a surface problem - I would assume your debt goes a lot deeper.  Visit the National Federation for Credit Counseling for some help with what direction you should go in to get yourself out of debt.
780895
Newsflash: Borrowing money to pay off debts only puts you further in debt.\n\nThe first step to getting out of the hole is to stop digging!
801490
It is hard to say without specifics regarding your finances and the nature of your mortgage.  In general, the faster it is paid the less you will pay in total.  That holds unless there is a penalty for paying early.  Then you have to consider the penalty versus the savings.  Anything at all that you can pay above what you owe per month will get you ahead.  ANYTHING.  Don't discount the pennies.  They do count.  Dollars are much better, but the pennies also count.\nIf you have several debts, you need to make decisions.  You need to decide what is more important to you...prioritize.  Then budget.  Put down on paper where your money goes.  Make a plan and follow it.  Don't say, "Well, it's only a little so I'll buy it."  Stick to the plan.  The only allowable deviations should be in your favor.  If you genuinely saves you money, then you can deviate.\nAnother idea put forth is a snowball effect.  Pay off your smaller debts first.  As each is paid off, put the money that would have gone to that debt toward the next smaller or rather the new smallest debt.  As you do so, your payments for each debt will get higher and you'll see each debt paid sooner.  You won't notice any change in available money because the same amount is still going to pay your debts.  The difference is where the money goes.  Soon, all your monthly payments will be on one debt.  When that happens it will be paid very quickly.  After you stop paying those debts, pay yourself.  Put the money that you were using to pay your debts in YOUR account.  You can save and have a little left over to play with.  You win with decisions and discipline.\nAgain, I don't know the details so this is as general as I can make it.
190813
You start with your smallest debt first- work on paying it off first while paying just the minimums on everything else. Then after the first debt is paid- take the amount you would've used to pay that debt plus the next smallest debt and pay that one off. Before long you'll have everything paid off- it may take a couple of years but  you can do it!
862989
It depends, but typically speaking it is best to pay off the high interest first because of the cost effect.  Once you pay off the highest, then use the money you were using on that payoff and use it for the next costliest debt.\n\nHTH