r/Debt • u/Eddiecreates • 9h ago

30k debt 30k salary.

What course of action would you look at taking to clear off the debt as fast as possible?

The 30k is what I’d be paying at the end of the 6 year loan, I consolidated a lot of different cards and loans to a lower apr. (7.4%)

So I’d like to try and pay it off as fast as possible to try and avoid the 6k ish of interest I’ll be paying over the duration.

1 Upvotes

100% Upvoted

1

u/Decorah1 9h ago

Pay as much extra each month as you can.

Paying 517.25 monthly 6 years 599.71 monthly 5 years 723.97 monthly 4 years 931.81 monthly 3 years

1

u/EliminateTheInsanity 9h ago

Increase income with part time work

1

u/isaacsbagel 6h ago

Increase income, sell your car and buy a beater, budget and cut spending, do NOT use your credit cards again otherwise you’ll just have a 30k loan and maxed out cards

1

u/Geodennis7 3h ago

File chapter 7. Owe nothing in 60 days.