Let Simon Decide - Should I pay off my debt?

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JeffB8033 decided to share a decisión with other Simonites. Here is the summary.

Posted By: JeffB8033
Decision Name: Should I pay off my debt?
Date: September 08 - 2009
Description: Pay Off or Go bankrupt
Simon says: Declare bankruptsy

Primary Personality

Secondary Personality

Decision style: Intuitive

Important

How Simon calculates the result

1	Declare bankruptsy	83.03
2	Don't pay off debt	71.21
3	Pay monthly minimum	25.45
4	pay off debt	24.24

Simonites' Comments (2)

Do you agree with Simon's recommendation?

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1		0		0

JeffB8033 (owner)
2009-09-29

Thank you for you feedback. Much appreciated.

Roland Kratzer
2009-09-29

I would try to negotiate a reduction in your debt before moving forward with a decision. If you were able to structure a payment plan that reduced the principal balances, reduced the interest rates, included monthly payments that worked for your budget and reduced your stress level that seems preferable to bankruptcy, monthly minimum payments or a complete payment. If that was unsuccessful, then bankruptcy might be for you.

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