April 12, 2013

And... I'm Off...

If you read Tuesdays post I said I was going to start posting about debt, mine specifically and what I am doing to get out of it.. So today I've decided it's time to get real and list my debts and totals along with any progress I've made and what system I am using.. So.. here we go....


My Total Debt (credit cards & credit accounts only) :

$3752.12

Credit Card 1  :   $424.58 Balance        Started at $500.00
Credit Card  2   : $434.77 Balance,       Started at : $ 500.00
Credit Card 3 :     $ $426.54 Balance,    Started at : $ 500.00
Credit Account 4 : $ 481.73 Balance,     Started at $700.00
Credit Account 5 : $ 708.76 Balance,    Started at  $ 900.00
Credit Card 6:      $ 110.07 Balance,    Started at $400.00
Credit Card 7 :        $ 160.80 Balance,    Started at $600.00
Credit Card 8 :         $ 254.87 Balance,    Started at $350.00
Personal Loan          $600.00 Balance,     Started at $1200.00
Credit Card 9  :        $150.00              

Yes I have an auto loan but just yesterday I was able to re-finance it through another bank and my interest rate dropped from 8.25% to 4.75% plus it's only a 60 month loan rather than the 72 months it was so I shave off a year of interest as well AND I am saving 40 dollars a month which I can put towards paying down my credit card debt... Yay me!

So, how did I get into this debt? Well, some are due to medical bills, some are veterinarian bills, and a lot of it, shear stupidity which will not be happening again.

In my next post, I will tell you how I am paying this credit card debt off and what system or systems I am using so please stay tuned!




12 comments:

  1. Hi Robyn! Thanks for stopping by! Good luck on your debt journey!

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  2. GOOD for you! Living debt free is the only way to live; you'll be master of yourself (along with God) and not enslaved to debt. You could also contact your largest debtors and ask them to freeze the interest; they may or may not but you know they won't if you don't ask -smile-.
    You could also determine which card has the lowest interest and then transfer the balances of your higher interest cards to that one card. (better idea than the first -smile-.) Pay off your lowest card first then cut it up...and don't forget to write the card owner and tell them you want the card removed from your credit report...copy your credit report companies...the big 3...they have 30 days...and then check to make sure they didn't their job. Which, of course, they won't but, legally, they have 30 days to do their job. Then you write them and remind them and write a letter of complaint to the SCC in your state. When they know you mean business, they are more likely to do what the law tells them they have to do.

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    1. Oh my goodness thank you SO much for all the tips you shared!! I will be looking into ALL of these and I can not thank you enough for coming by my blog. I hope all is well with you and in your world these days. I think of you often..
      Robyn
      xo

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  3. Great job on refinancing the auto loan and cutting a year off your loan. The thing that will probably just help the most in paying off is to learn to NOT use them anymore at all. Then you won't be continually on the merry-go round of trying to pay them off

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    1. You are absolutely correct! I dont keep any of the cards with me anymore. I have them in the safe.. I don need the temptation.. Once I have everything paid I am NOT going into to debt again. I DESPISE any kind of credit now. It just leads to trouble.. Thank you SO much for coming by my blog and commenting! :)

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  4. Heya Robyn! Your numbers are pretty good, can't wait to see what method and plans you have whipped up to move yourself forward! My one advice would be to pay and close the smaller, newer cards. If you're not too interested in nursing your credit for the immediate future, the less cards the better, unless the benefits are truly a benefit to you. Good luck!

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  5. Thank you so much Tanner! and thanks ever so much for coming over to my blog, commenting and following along.. It means so much to me :)
    Robyn

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  6. I am trying to figure out how you qualify for credit as I can't get any and I have disability and a good size spousal support. But I am still below the poverty line and my debt to income ratio is very low. I have stellar credit, but am turned down. I just want a card available with me traveling each month. I am glad to see that you are going to get a handle on this and make your life have more peace instead of worrying about bills!

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    1. Can you get a card through your spouse? Or get a secured credit card, and that should get you started. Not sure why you would be turned down if you have stellar credit and low debt to income ratio. Try checking creditkarma.com or quizzle.com to see if there's anything in your credit report that is stopping you from being approved.

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  7. Brave, brave woman!
    I'd be so frighten looking at my debt on "paper". Actually, you are looking good compared to so many others.

    Thank you for stopping by and leaving sweet messages!

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  8. Hi Robyn,

    It would also be very interesting to see what your income is like and how its proportioned. For example what percent goes to savings, what percent goes to debt pay off, what percent goes to life expenses etc. Sometimes listing these things out you can find out where improvement is needed and where to find extra cash to put towards debt repayment.

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Please leave your comments, I love hearing from you! :)
~Robyn~ XO