Comments on: Make Multiple Debt Payments Every Month http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/ Debt Reduction Rocks - We Are Living Debt Free! Mon, 01 Dec 2008 17:22:42 +0000 http://wordpress.org/?v=2.6.3 By: Chasing the Bull » Lower Credit Card Debt by Making Multiple Payments http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-137726 Chasing the Bull » Lower Credit Card Debt by Making Multiple Payments Tue, 25 Nov 2008 04:08:25 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-137726 [...] you need to decide how much you are going to send every 14 days. Since my goal is to lower credit card debt, I actually send in the minimum amount every 14 days. [...] [...] you need to decide how much you are going to send every 14 days. Since my goal is to lower credit card debt, I actually send in the minimum amount every 14 days. [...]

]]> By:   10 Things That Will Happen On The Road Between Being In Debt And Being Debt Free by No Credit Needed http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-133794   10 Things That Will Happen On The Road Between Being In Debt And Being Debt Free by No Credit Needed Thu, 30 Oct 2008 03:24:21 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-133794 [...] a bit, but you’ll be thrilled to see how much extra money you have.  In these early days, you will put every single extra penny towards debt reduction.  You will be on [...] [...] a bit, but you’ll be thrilled to see how much extra money you have.  In these early days, you will put every single extra penny towards debt reduction.  You will be on [...]

]]> By: Dig Your Way Out Of Debt. | 7Wins.eu http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-133001 Dig Your Way Out Of Debt. | 7Wins.eu Sat, 25 Oct 2008 06:34:25 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-133001 [...] Terri Wants to Know “Is There a Way to Get Out of Debt Without Ruining Our Credit?”When You’re Deep In Debt, Dig Out With Online Debt Consolidation | Debt Consolidation Credit Card Debt Update - Under $15,000 Blogging Away Debt Using a Cash Advance to Purchase a Used Vehicle : Spotya! BlogLiving on a Dime! | HelpWithDebtNow.comMy Get Out Of Debt Success Story - $70,000 In Four Years | The Happy Rock Dig A Hole: Edie Adams : Emulsion CompulsionDebtkid - How I got into this 1/4 Million Dollar Debt Mess Make Multiple Debt Payments Every MonthbyNo Credit Needed [...] [...] Terri Wants to Know “Is There a Way to Get Out of Debt Without Ruining Our Credit?”When You’re Deep In Debt, Dig Out With Online Debt Consolidation | Debt Consolidation Credit Card Debt Update - Under $15,000 Blogging Away Debt Using a Cash Advance to Purchase a Used Vehicle : Spotya! BlogLiving on a Dime! | HelpWithDebtNow.comMy Get Out Of Debt Success Story - $70,000 In Four Years | The Happy Rock Dig A Hole: Edie Adams : Emulsion CompulsionDebtkid - How I got into this 1/4 Million Dollar Debt Mess Make Multiple Debt Payments Every MonthbyNo Credit Needed [...]

]]> By:   Calculating Average Daily Balance With Free Spreadsheet by No Credit Needed http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-127003   Calculating Average Daily Balance With Free Spreadsheet by No Credit Needed Fri, 29 Aug 2008 23:50:14 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-127003 [...] and work though various plans.  I used a similar spreadsheet when calculating the impact of making multiple monthly payments when reducing my [...] [...] and work though various plans.  I used a similar spreadsheet when calculating the impact of making multiple monthly payments when reducing my [...]

]]> By:   How To Get Out Of Debt - An Illustrated Guide To Debt Reduction by No Credit Needed http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-126741   How To Get Out Of Debt - An Illustrated Guide To Debt Reduction by No Credit Needed Wed, 27 Aug 2008 17:47:33 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-126741 [...] to do even more to ramp up your debt reduction?  Don’t send one extra payment, send multiple extra payments.  Keep your eyes open for ways to reduce your interest rates.  Consider calling your credit card [...] [...] to do even more to ramp up your debt reduction?  Don’t send one extra payment, send multiple extra payments.  Keep your eyes open for ways to reduce your interest rates.  Consider calling your credit card [...]

]]> By: Funny about Money http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-124957 Funny about Money Mon, 11 Aug 2008 13:32:17 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-124957 Problem is, my credit union, which owns my only debt, will not accept a payment toward principal online. If you do an EFT to transfer funds from a checking account to the debt, it's applied toward interest. If the interest is more than the amount you transfer, then the entire amount gets gobbled up by interest. The only way you can get around that is to make your transfer on the day the regular payment is due, within minutes after your EFT for the regular payment posts. Who has time to fiddle with that? I have to physically carry a payment to a credit union and instruct the teller--sometimes quite firmly--to apply it to principal. Fortunately, the CU has a branch on the campus where I work, where, by dint of throwing quite a sh**-fit, I've trained the staff to accept extra payments toward principal. If I try it at another branch, the teller will announce it's against the institution's rules to accept extra principal payments, and that some or all of the payment must be engrossed to pay interest. You've convinced me, BTW, that the idea of accruing extra pay-down money in savings and then using it to pay down principal once every three to six months is not great. Since the Great Desert University has canceled my insurance plan and will force me into one that costs ten times (! literally!!) what I've been paying, there won't be any money left for debt snowflakes, blitzkriegs, or whatever. I'm going to take the cash I have saved and pay down the loan this week. That will reduce the interest in the regular payments so that at least each regular payment pulls down principal by about $140 a month. Better than nothing, eh? Problem is, my credit union, which owns my only debt, will not accept a payment toward principal online. If you do an EFT to transfer funds from a checking account to the debt, it’s applied toward interest. If the interest is more than the amount you transfer, then the entire amount gets gobbled up by interest. The only way you can get around that is to make your transfer on the day the regular payment is due, within minutes after your EFT for the regular payment posts.

Who has time to fiddle with that?

I have to physically carry a payment to a credit union and instruct the teller–sometimes quite firmly–to apply it to principal. Fortunately, the CU has a branch on the campus where I work, where, by dint of throwing quite a sh**-fit, I’ve trained the staff to accept extra payments toward principal. If I try it at another branch, the teller will announce it’s against the institution’s rules to accept extra principal payments, and that some or all of the payment must be engrossed to pay interest.

You’ve convinced me, BTW, that the idea of accruing extra pay-down money in savings and then using it to pay down principal once every three to six months is not great. Since the Great Desert University has canceled my insurance plan and will force me into one that costs ten times (! literally!!) what I’ve been paying, there won’t be any money left for debt snowflakes, blitzkriegs, or whatever. I’m going to take the cash I have saved and pay down the loan this week. That will reduce the interest in the regular payments so that at least each regular payment pulls down principal by about $140 a month. Better than nothing, eh?

]]> By:   Monthly Checklist To Help Speed Up Your Debt Reduction And Increase Your Savings by No Credit Needed http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-124128   Monthly Checklist To Help Speed Up Your Debt Reduction And Increase Your Savings by No Credit Needed Wed, 06 Aug 2008 03:56:28 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-124128 [...] account to my savings account.  This is similar to what I did when getting out of debt, except I was sending micro-payments instead of making [...] [...] account to my savings account.  This is similar to what I did when getting out of debt, except I was sending micro-payments instead of making [...]

]]> By: 5 Free (And Inexpensive) Ways To Reduce Your Debt http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-118700 5 Free (And Inexpensive) Ways To Reduce Your Debt Thu, 03 Jul 2008 14:20:42 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-118700 [...] you want to rapidly reduce your debt, the best thing you can do is make extra payments, as often as possible, to your creditors.  But, there are some other things you can do - things [...] [...] you want to rapidly reduce your debt, the best thing you can do is make extra payments, as often as possible, to your creditors.  But, there are some other things you can do - things [...]

]]> By: » Early Morning Blog Roundup: Suckers, Micropayments, and Obsession on Consumerism Commentary: A Personal Finance Blog http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-108320 » Early Morning Blog Roundup: Suckers, Micropayments, and Obsession on Consumerism Commentary: A Personal Finance Blog Thu, 15 May 2008 13:48:01 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-108320 [...] Make Multiple Debt Payments Every Month. This is a fascinating strategy to help people get out of debt. The idea of micropayments is basically a similar concept to the ECRD Factor. Small, repetitive deposits or debt payments can have a long-term positive effect (as long as doing so doesn’t mean that one ignores the larger transactions). [...] [...] Make Multiple Debt Payments Every Month. This is a fascinating strategy to help people get out of debt. The idea of micropayments is basically a similar concept to the ECRD Factor. Small, repetitive deposits or debt payments can have a long-term positive effect (as long as doing so doesn’t mean that one ignores the larger transactions). [...]

]]> By: » Reducing Your Debt With Micropayments @ fivecentnickel.com http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-104881 » Reducing Your Debt With Micropayments @ fivecentnickel.com Tue, 06 May 2008 10:08:18 +0000 http://www.ncnblog.com/2007/02/02/make-multiple-debt-payments-every-month/#comment-104881 [...] a number of different debt reduction strategies out there, I wanted to take a moment to highlight an especially good idea that my pal NCN used to dig his way out of debt: [...] [...] a number of different debt reduction strategies out there, I wanted to take a moment to highlight an especially good idea that my pal NCN used to dig his way out of debt: [...]

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