Continue to make your minimum payments for all of your accounts, adding extra principal towards your lowest balance. Pay down your lowest balance account AS FAST AS YOU CAN. Once you have paid off your lowest balance account, do not take your foot off of the peddle! Take the total amount that you were paying on your lowest balance account (minimum PLUS extra) and use that amount to pay down your next-lowest balance account. This creates the well-known snowball effect. If you had 5 initial balances and you pay-off 1 of those balances, you now have 4 balances. But, you will treat these balances as if they are 1 “big” balance. So, just because you have paid off an account, do not decrease the TOTAL amount of money you are using to pay-off debt per month. Take every dollar that you were putting towards balance 1 and put that money towards balance 2. This will rapidly accelerate your debt re-payment. Remember, you goal is total debt elimination!