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paying down the debt

March 14th, 2007 at 07:12 pm

If I'm going to do this I may as well do it right, and post about the debt I have... I'm coming clean with everything...have to be honest to myself, right?

In addition to saving, I want to pay this down; it's not a huge number so it shouldn't be too difficult. And I know I shouldn't have so many cards w/ low balances all maxed out, but things happen - I've learned the error of my ways. They're all in good standing, I just need to get them down to 0!

Tonight I'll post about what my husband owes, which is less than what I owe, but I don't know the numbers off-hand.

So... for me:

Card one - balance due 712
Card two - balance due 205
Card three - balance due 458
Card four - balance due 0
Card five - balance due 291

Card 4, I just paid off - the limit is only $200.

I also last month made a large payment $500 to an account that was in collection. I started out owing about $2000 2 years ago - As of Feb. I owed a bit over $800, so I paid $500 which brought me to a balance of $387.

I just called and asked if they'd accept a settlement on the remainder and got it knocked down to $291 if I pay by March 30th, which is TOTALLY do-able since it's a 3 paycheck month!

Woohooo!

So, slowly, but surely the debt is getting paid.

I'll post later, as I said, about hubby's cards... he only has 3, or is it 4?

Posted in Debt Reduction | 5 Comments »

5 Responses to “paying down the debt”

  1. rduell Says:
    March 14th, 2007 at 07:15 pm 1173899738
    1173899738

    Oh yes, you can do this! It'll be great when you can say they're all paid!

  2. fairy74 Says:
    March 14th, 2007 at 07:32 pm 1173900745
    1173900745

    Good for you! Each one you pay off will give you so much energy to pay the others off!

  3. Amber Says:
    March 15th, 2007 at 12:13 am 1173917603
    1173917603

    Looks like you are on the right track...keep it up

  4. PRICEPLUS Says:
    March 15th, 2007 at 03:52 am 1173930756
    1173930756

    You are on the right track! You can and will attain your financial goals by sticking to your plan of debt reduction! Way to go!WinkSmile

  5. Aleta Says:
    March 19th, 2007 at 03:38 pm 1174318692
    1174318692

    As each one is paid off, you'll feel more empowered. You will see how much easier it is to pay off debt than you thought. You'll also see people on the forum who have more debt and how they are dealing with it. Good luck! You're doing a great job by just going to the one for instance and trying to settle the debt. It got you a lower pay-out amount and the difference can go to another debt on your list.

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