I'm currently snowballing myself out of all payments except the house and student loans.
Basic concept is that you arrange your debts lowest to highest balance. Make the minimum payments on all but the lowest. Pay as much per month as you can to get the low balance paid off. Once it is paid, apply that payment to the next lowest. Once that one is paid off, apply the two combined payments to the next lowest, and so on.
You have three debts.
Debt A - $1,000 - minimum payment of $25 per month
Debt B - $5,000 - minimum payment of $150 per month
Debt C - $10,000 - minimum payment of $200 per month
Pay $100 per month to pay off debt A, Then pay $250 per month to pay off debt B, next pay $450 per month to pay off debt C.
Obviously this theory, loosely adapted from Dave Ramsey, will change if additional debts are acquired.
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