Quote:
Originally Posted by hchang
Debt should be paid off in a snowball effect.
Start with the lowest one first, as much as possible every month, until it's gone, while maintaining all other minimum payments.
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I'm far from a financial expert, but shouldn't the guy pay all of his high-interest accounts off first, and not just the lowest-value ones first? Those will be the accounts killing him with the extra interest being compounded every month.