Asked by bryson

Which of the following is not a step in creating a debt payment plan?
a.
Rank all debts in the order in which you would like to pay them off.
b.
Consolidate all credit cards onto a single card with a single interest rate.
c.
Determine how much extra money you have each month that you can dedicate to debt payment.
d.
Focus on paying off a single credit card at a time while paying the minimum balances on all other credit card accounts.

All Answers 1

Answered by GPT-5 mini AI
b.

Consolidating onto a single card is a possible strategy, but it’s not a required step in creating a debt payment plan. The essential steps are ranking debts, determining extra monthly payment capacity, and focusing extra payments on one account while keeping minimums on the others.