Has anyone here heard of "debt snowballing"?

**KMoney** · June 23rd, 2009, 03:19 PM

Originally Posted by hjm331

Is this book also available on DVD?

Here you go brother the link for the DVD:

Forget this HJM once I looked at it again and I saw the ridiculous price I said bump that and deleted the link!

**hanna** · April 2nd, 2010, 03:04 AM

uhm...I still don't get the idea.

Wouldn't it be better if we'll just consolidate our debts so the finance charges won't pile up?

**eugene66** · April 2nd, 2010, 07:44 PM

Originally Posted by hanna

uhm...I still don't get the idea.

Wouldn't it be better if we'll just consolidate our debts so the finance charges won't pile up?

Well it's like paying off smaller balances and then applying those payment to the larger ones which has a light at the end of the tunnel effect by seeing accounts being paid off which can be motivational.

**Wanderer** · April 5th, 2010, 08:46 PM

The info eugene stated is important because you feel the

accomplishments of paying down balances. If you consolidate debt where do you get the money to consolidate and if you do a consolidation loan will it help you avoid dings in the credit report. Chapter 13 BK is out their but, if it get's to that point you are for sure getting dinged in the bureau. Consolidating debt may make sense if the other bills are paid but will you go right back and run up more bills since the credit

lines are paid? Food for thought.