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Racked up debt, time to pay it back- I love challenges.

Established Member

Re: Racked up debt, time to pay it back- I love challenges.

Hey everybody.  I posted the original post a few months back.  Here is where I am now.

 

American Express-  $1200 / 3200  (went to 1600 later) -CURRENT BALANCE:  $700

Capital One- $600 / 1300 -CURRENT BALANCE: $275

Citi- $643 / 1600 -CURRENT BALANCE: $300

Ebay Mastercard- $450 / 2800 -CURRENT BALANCE: $275

 

Discover- $750 / 4000 -CURRENT BALANCE: $550

Tires Plus- $450 / 2200 -PAID OFF

 

Given the circumstances of "life in general", I was not able to fully pay everything off.

 

However, this is much more "do-able".  I spent last month just putting money into my savings account.  Got enough to "get me through" in case something happens (knock on wood).  I am looking at buying a new (TO ME) car.  I could put 6k down and get a decent car loan.  However....I am beginning to think of using my other savings account and start putting money away every week.  This could be considered the "car fund".  My car runs fine now, but it is getting older. 1996 chevy caprice 5.7l v8 with  86k miles. I also have a "work truck"...as a backup (Used only in last ditch effort.....the things a P.O.S. but it runs.....) so if something was to happen, I at least have transportation to my two jobs.  

 

Anyway, stopped smoking for over a month now.  Finally went all in and have been free of cigarettes for 35 days.  I am using a e-cig, as my original post stated.  After buying lots of supplies, I am now starting to see the savings by NOT smoking.  7 dollars a day, we are looking at 200 dollars a month.  "Vaping" as we call it, costs a fraction of that...no more smoke, no tar, no tobacco, no smell....I can go on and on.  It's great to be smoke free again, and start saving money.

 

I will update this in a month or so, hopefully will have the balances down to little or nothing.  

 

Thanks,

Kenny

Message 11 of 20
Moderator Emerita

Re: Racked up debt, time to pay it back- I love challenges.

Nice work, Kenny, keep it up! And especially congrats on still staying off the cigs --that's a toughie. "Vaping", huh?

 

Wow, a 5.7L V8, with gas a $2.80/ gallon or whatever... Smiley Very Happy

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 12 of 20
Established Member

Re: Racked up debt, time to pay it back- I love challenges.

 

 

 

 

 

Message 13 of 20
Established Member

Re: Racked up debt, time to pay it back- I love challenges.

Good news, everybody.

 

I have officially paid off all of my debt.  Just made the final 2,184.41 payment to Discover.

 

Debt free, just a simple car note now

Message 14 of 20
Established Member

Re: Racked up debt, time to pay it back- I love challenges.

This is what I like to see...

 

Discover - PAID IN FULL

American Express- PAID IN FULL

Citi - PAID IN FULL

Capital One-  PAID IN FULL

Paypal/Ebay- PAID IN FULL


Chase Car Balance- $7,000

Savings- 2,100

 

In great shape.

Message 15 of 20
New Member

Re: Racked up debt, time to pay it back- I love challenges.

Excellent job and great change in outlook on the savings...every little bit helps! 

 

So are you planning to pay off the $7000 early?  Debt free is such a nice feeling!

Message 16 of 20
Established Member

Re: Racked up debt, time to pay it back- I love challenges.

Actually, since my loan started in May...I may wait until this coming May to pay it off full.  Give me one good solid year of them seeing I am making payments on the installment loan.

Message 17 of 20
Established Member

Re: Racked up debt, time to pay it back- I love challenges.

LOL, whoops guys I made a mistake in my car payment...so instead of 1200 i ended up paying 2400 Smiley Wink

 

So I now owe 5800.  Which, is even better.

 

I still have my 1k emergency fund, plus another 1,000 in checking.

Message 18 of 20
Established Member

Re: Racked up debt, time to pay it back- I love challenges.

I just checked two of my FICO scores last night.

 

TransUnion- 695

Equifax- 727

 

This is before it is going to show that I had all of this paid off.  It says I am owing 3800 or so (it will report the changes in a few months I am sure) 

 

Looking good guys.  Just got 5.8k left on truck. I just checked my statement and I don't "have to" make a payment until 2/23/2011! LOL I guess all the money I paid was for months in advance.

 

Time to save up for a house, they are GIVING them away here in Florida.

Message 19 of 20
Established Contributor

Re: Racked up debt, time to pay it back- I love challenges.

 


xxKennyDxx wrote:

LOL, whoops guys I made a mistake in my car payment...so instead of 1200 i ended up paying 2400 Smiley Wink


Heh, that's a kind of mistake I would be able to live with Smiley Wink!

 

Message 20 of 20