Credit card solution for me?

17 Aug
2009
credit card debt solution

I have a lot of credit card debt. I have 3 cards total.

Card 1: Limit is $3460, carrying $3200 with 28.99% (because I defaulted last year and I am slowly taking care of the minimum payments) Minimum payment runs $120 a month.

Card 2: Limit is $3500, carrying $3300 with 10.7% fixed (thanks to my credit union, they took a over $3500 in high interest debt) Minimum payment runs $60 a month.

Card 3: Limit is $1200, carrying $500 with 13.99%. Minimum payment is about $20 a month.

I will be inheriting about $5,000 and I need to know they smartest way to spread this money over my cards. I really want to just pay off that $500 one to get it out of my life, but do you think I should just get rid of the 28.99% card first, since the others are pretty manageable?

Please, serious answers only. I do not want to be judged from the spending nor do I want to justify what I spent this money on.





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