Factoring Ok, now list your consumer debt from lowest to highest, along with your total balance due, interest rate, and your minimum monthly payment. An example would be: Sears $1500 owed 13% interest $75 payment JC Penny $2000 owed 12% interest $100 payment Master Card $3000 owed 17% interest $200 payment Bob's Furniture $9000 owed 12% interest $500 payment Car $17,000 owed 9% interest $300 payment 2nd Car $25,000 owed 12% interest $600 payment Hospital $38,000 owed 9% interest $250 owed This is just a random example, but for demonstration purposes it will work to show you how to get this under control. The Sears bill has $1500 owed, and a minimum monthly payment of $75. Divide the 1500 by the 75, and you'll see that there 20 payments...the factoring number is 20. The next one is JC Penny. There is a balance of 2000, and the minimum payment is 100. Divide, and there are 20 payments also....this factoring number is 20 also. Master card is 3000 and 200, which, when divided, gives us a factoring number of 15. Bob's furniture is 9000 and 500. Divide and come up with a factor of 18. The first car is 17000 and 300, which gives us a factoring number of 57. (its actually a little less, but close enough for our purposes.) The 2nd car is 25000, and 600, a factoring number of a little less than 42. The hospital is 38000, and 250 which comes up to an incredible 1520 for it's factoring number...that's how many months it would take to pay off! NEXT MY MONEY ANSWERS: HOME GETTING PAST THE PAST ASSESSING YOUR SITUATION FACTORING MAKING THE PLAN SPECIAL NOTES ABOUT DEBT DECIDING IF BANKRUPTCY IS RIGHT FOR YOU DEBT CONSOLIDATION CHOOSING A PLAN OF ATTACK YOUR LONG TERM GOALS STARTING A BUSINESS CORPORATIONS PEOPLE YOU WILL NEED STUDENTS AND CREDIT