Here's the basics, please feel free to add anything i may be missing......

I have about 13,000 in credit card debt, 10,000 at 7% on a vehicle, and 7,000 on a hospital bill that i would like to have put at 0%, right now i am not paying very high interest but some. my credit score is 674 I can pay 1,000 per month on the debt and is what i am paying now, so most should be paid off in one year, because i will mostly likely get 8K back on next years tax return which will go to the debt. so here is my plan of action, which i am sure is lacking...some.....

1. apply for 20 plus cards in my name with 0% interest and no balance transfer, also a few hopefully with the free bonuses
2. use these credit lines to put my current debt, so i can pay off faster.
3. apply for business credit of about 20 cards, 0 interest 0 balance transfer, a few free bonus money thrown in. this money i will put in high interest savings, details still not for sure.
4. at the end of one year i will take the money out of savings, pay off all the card and apply interest to my remaining card debt.
5. apply for credit for spouse and swith remaining debt to his cards.

questions am i forgetting anything...

1 how much credit am i likely to get with the mediocre cs. my hhi is 53,000. if not enough to put my current debt on, can i use some from the business side.

2 should i put business as sole proprietor or what. does it really matter as long as i put in personal savings? i do have two small businesses and occasionally sell on eBay.

please let me know if you have any input....i really want to get the ball rolling ASAp thanks

I'll defer to the more knowledgeable members, but I have just one word: Trainwreck.

If you do this, call the hospital and ask about getting a discount for paying your balance in full. I'm seeing a lot more offers come across my desk lately on my billing statements from medical providers that offer a 10% discount for payment in full (after insurance paid their portion). That would be $700 to you if you could wrangle it.

WTF, pics please?

thanks for being honest. i don't have enough money to throw it at higher debt. that is why i was excited about this cuz if i could get it all at 0 percent, i'd have it paid off in a year and a half. how long will it take to get my credit up? should i see what my husband's is, if it is better i could use his. i read that as long as you are in the late 600s to 700s, upping your score won't matter much , thats wihy i thought this would work.

bargdill said:... so most should be paid off in one year, because i will mostly likely get 8K back on next years tax return which will go to the debt ...

I have an idea.

Why don't we calculate the accurate amount for our tax withholding and instead of giving the government an interest free loan for a year while we pay interest on credit card debt, apply said money to credit card debt now.

Every year I OWE the fed about 50.00 bucks. It is not exactly hard to plan. My state is a bit trickier because they play a bit more loose with the 'calculate the amount owed' formulas than they really should.

i imagine it would be hard to get credit lines high enough with 0 percent offers to even bother with an AOR with your fico i would work on paying highest cards off first

Reading through this thread, I think L0stman's advice is great. If you can calculate how much additional money you'd receive per paycheck, and devoted that towards paying off your debt, that will certainly reduce your re-payment time. Just be careful that you calculate this correctly and aren't making assumptions that might not hold true!

As others have advised, I'd look into negotiating a payment plan with the hospital bill to reduce whatever interest rate you're paying, and possibly getting a discount for paying in full.

I don't know what interest rate you're paying on your credit card debt. It might be worthwhile to contact your credit card companies and request interest rate reductions.

Regarding your auto loan, look at lower interest rates, and calculate whether the lower payment would justify the additional hard credit inquiry, thus dinging your credit score slightly. If you shop (apply) for multiple car loans within a short period of time, I believe the multiple inquiries will count as one.

Do you have a mortgage, and if so, do you have possible plans to refinance in the near future? If so, then I recommend you consider very carefully whether you want to take actions such as an AOR, or refinancing your auto loan, that would further reduce your score.

In summary, I'd look for ways to increase your monthly re-payment amount (L0stman's suggestion), reduce your interest rates/negotiate your hospital bill, and factor in possible financial events such as re-financing your home, before thinking about an AOR.

If you decide to go the AOR route, obviously you will need to be very self-disciplined, and make sure you can pay it all back as the 0% BT terms expire. If you haven't already done so, you need to study the sticky AOR thread, and review some of the other AOR threads referenced in that one. It's quite possible that after you attempt the other strategies an AOR might not be worthwhile.