Debt Dumpers - 2013

[gracie1]

I just made my last full car payment this week, payoff if $222.76 due 3/15. I am dying to just pay it off, but have to just wait due to other payments due. I cannot wait to make that last payment and that amount into some other smaller debts and get this snowball rolling again.

March 15th will be here before you know it!! I love not having a car payment

 

[gracie1]

I will be paying off one medical bill this week! I've also paid my city tax bill and if all goes according to plan I will pay off my final credit card in May. I will then work on paying off the rest of the medical debt and maybe a few extra bucks towards my car payment so I can pay that off a year early. Long term I will make a fair amount of progress and I've made some recently and it feels great!However, each day is a struggle but i look forward to reading this thread each day for inspiration. Thanks everyone!

Way to go!! I hate medical bills and was so glad to have my bills paid off this past December! I dreaded making that payment! When I went to the hospital to pay it off I told them I was finally paying off my gallbladder

 

[Carol97]

We acquired alot of debt a few years ago because we had infertility issues and we're unable to have a baby. So, we sought adoption and it wasn't cheap! We knew what we were doing and very willing to incure the debt to adopt a child and have worked hard to pay this debt down/off! Our adoption cost $32,000 and that was in the states and we are down to about $13,000 and our daughter is now almost 6 years old now! We are very proud of how far we've come and been able to be a happy family!

One thing that I have done over the years was keep a spreadsheet detailing each credit card and loan we have with a monthly line of all totaled together!! Every month, I write down on it the balance owed on each card/loan and month by month and even year by year I can see exactly how far we've come. And if there were months that we struggled like to due Christmas, I could also see that we needed to try and work harder to cut our expenses or work more hours at our jobs, if possible. I highly recommend doing this to track your debts. It's wonderful to look last month's versus this month and say we got out of $1400 in debt or so forth. And to look at 4-5-6 months ago and see the balance due now is much less helps you keep staying focused on the task even though it's very tempting somethings to want to blow money on other things like home improvements, extra clothes, etc.

With our method, we did take our daughter to Disney 3 years ago and we are heading there again in less than 2 weeks. We made ALOT of other sacrifices though to be able to do these trips!

 

[njmom47]

One small loan to go (4 more payments) then the extra will be going to my credit cards. Not much, but every little bit counts.

 

[Sagginit]

I know you were only venting and not looking for "answers" so welcome to the board... we're here to listen and offer encouragement.

We can't do anything about the past but we can start making better choices for the future. I know you have no control over the job situation and I really relate to you on that. I was unemployed (I'm a teacher) for 2 years and thankfully this is my 2nd year back teaching. I have no tenure so we are year to year on my position hoping I get rehired until I reach tenure. Our debt is from "living" during those unemployed years.

I managed to sell 6 old textbooks tonight for a whopping $25.80. It's better than collecting dust in the garage. Sending it to my lowest balance cc when the check comes in (we are doing Dave Ramsey's plan).

I clipped coupons today and updated my coupon binder. Decided to send my coupon "savings" to the ccs too. I wonder if they will think its crazy to be getting $2 and $3 payments a few times a week?! Lol

maybe save the receipts and send it once a week? i did a target run the other day and stocked up on some things thanks to coupon deals. i calculated i had over $18 in coupons, but that of course means i bought more than i normally do. i need to check my stockpile, i have refilled in the last two months. so hope to cut down my shopping next month to keep rolling.

on that note every time i send in an extra payment towards my loans sallie mae adjusts, sometimes by like $2 a month so apparently $2 does ad up on the life of debt

 

[gjl]

Removed

 

[gracie1]

We acquired alot of debt a few years ago because we had infertility issues and we're unable to have a baby. So, we sought adoption and it wasn't cheap! We knew what we were doing and very willing to incure the debt to adopt a child and have worked hard to pay this debt down/off! Our adoption cost $32,000 and that was in the states and we are down to about $13,000 and our daughter is now almost 6 years old now! We are very proud of how far we've come and been able to be a happy family!

One thing that I have done over the years was keep a spreadsheet detailing each credit card and loan we have with a monthly line of all totaled together!! Every month, I write down on it the balance owed on each card/loan and month by month and even year by year I can see exactly how far we've come. And if there were months that we struggled like to due Christmas, I could also see that we needed to try and work harder to cut our expenses or work more hours at our jobs, if possible. I highly recommend doing this to track your debts. It's wonderful to look last month's versus this month and say we got out of $1400 in debt or so forth. And to look at 4-5-6 months ago and see the balance due now is much less helps you keep staying focused on the task even though it's very tempting somethings to want to blow money on other things like home improvements, extra clothes, etc.

With our method, we did take our daughter to Disney 3 years ago and we are heading there again in less than 2 weeks. We made ALOT of other sacrifices though to be able to do these trips!

That debt was well worth it

 

[treeface]

Paid off a very small credit card this week, $86, that now makes 2 less bills we have each month, and $50/month to add to others.

I see the start of the tunnel finally and will knock this out quickly..."Just keep swimming"

 

[gracie1]

Paid off a very small credit card this week, $86, that now makes 2 less bills we have each month, and $50/month to add to others.

I see the start of the tunnel finally and will knock this out quickly..."Just keep swimming"

Way to go on getting 2 cc's paid off

 

[clintswifeymomof4]

I closed a cc account with a zero balance and cut up the card! I had no intention of using it again so I just closed it out altogether! I have 2 more in my name with 0 balances but need them open for a credit history and to maintain my score. It was liberating to cut up that sucker!

I transferred some extra $ my husband earned to our emergency fund (now up to $1300) and got some rebates (with more on the way) that I put into my Christmas fund ($285 so far)! For me personally- I know if I use the Christmas fund cash to send to debts- I will just end up charging so I am going to avoid that this year!

I ordered some rebate forms off of EBay that should earn me another $80. Woot!

 

[beansmom]

i have paid off 4 cards in the last 2 weeks and paid half of my Kohl's off (only another $1500 on that one to go). we still have three cards to pay off...a total of about $12k. I hope to get them churned out by april 1.

then we will have to gazelle up some $$$$ to pay taxes for the year.

after that, we will work on paying down the principle on our house.

it will take a while but i think we can do it. I just want to get it done!

 

[gracie1]

I closed a cc account with a zero balance and cut up the card! I had no intention of using it again so I just closed it out altogether! I have 2 more in my name with 0 balances but need them open for a credit history and to maintain my score. It was liberating to cut up that sucker!

I transferred some extra $ my husband earned to our emergency fund (now up to $1300) and got some rebates (with more on the way) that I put into my Christmas fund ($285 so far)! For me personally- I know if I use the Christmas fund cash to send to debts- I will just end up charging so I am going to avoid that this year!

I ordered some rebate forms off of EBay that should earn me another $80. Woot!

Way to go!! And your doing great with your christmas fund as well I already have a list of what I am buying this year, and have started saving as well! I have actually started shopping for a few things so I can cross them off my list. I always go out on black friday, but that shopping is for me

 

[gracie1]

i have paid off 4 cards in the last 2 weeks and paid half of my Kohl's off (only another $1500 on that one to go). we still have three cards to pay off...a total of about $12k. I hope to get them churned out by april 1.

then we will have to gazelle up some $$$$ to pay taxes for the year.

after that, we will work on paying down the principle on our house.

it will take a while but i think we can do it. I just want to get it done!

Your going to have $12k of your debt paid off by April 1st? That is great!

 

[aclov]

For those paying off credit cards, are you closing them? Or leaving them open unless it's a big temptation? I can put mine away and not see them so I won't use them!

 

[beansmom]

gracie, i hope so. it will depend upon how much income we have in march (dh is a doctor and our bank balance depends on how fast medicaid writes checks)...if not by April 1, then by the 10th for sure.

aclov, i haven't closed any accounts and don't know if i will. I KNOW what DR says but i take what he says with a grain of salt (today...maybe after i backslide a few times I won't). he also says no travel during your bill pay off period but i am still going to my Grandmother's birthday party in April, DR be darmned!

 

[gracie1]

gracie, i hope so. it will depend upon how much income we have in march (dh is a doctor and our bank balance depends on how fast medicaid writes checks)...if not by April 1, then by the 10th for sure.

aclov, i haven't closed any accounts and don't know if i will. I KNOW what DR says but i take what he says with a grain of salt (today...maybe after i backslide a few times I won't). he also says no travel during your bill pay off period but i am still going to my Grandmother's birthday party in April, DR be darmned!

I have yet to be on a vacation where I have not been in debt! And I have also charged vacations, so I know DR sure wouldn't be proud of me!

 

[gracie1]

For those paying off credit cards, are you closing them? Or leaving them open unless it's a big temptation? I can put mine away and not see them so I won't use them!

If you know you won't be tempted to use them, then I would keep them for an absolute emergency. I know you will see multiple opinions on other threads where they say your credit score will drop if you close the cards. I at one time (years ago) had 27 credit cards. Yes, 27!!! I had gotten into a lot of trouble with them and took out a personal loan, and closed all accounts. Now I didn't owe on all 27, probably about 7. But I closed them all, and I never had my credit score affected. I have had cards where I sign up for the promotion, and then a year later close them out, and still have not had trouble with my score. I do have a few cards still open just in case of an emergency, and the one card I do use and pay the balance off each month so I can build up rewards on it.

 

[clintswifeymomof4]

For those paying off credit cards, are you closing them? Or leaving them open unless it's a big temptation? I can put mine away and not see them so I won't use them!

I only cut the one up because I know for a fact I would use it again. It only had a $200 limit and it was a secured card. I filed Chapter 13 bankruptcy in 2006 after my first marriage ended and he left me with no $ in the bank and all the marital debt. I had never made a late payment and having a Finance degree, this was a hard pill to swallow but I had 2 babies to support on my own then. I remarried in 2007.

My husband has an excellent credit rating and came into the marriage with zero debt and a hefty savings. I ended up going back to school and got my Masters in education and started teaching in 2007. I taught for 2 years then could not find a position for 2 years (this is my 2nd school term back) so that is how the savings went and the debt came on.

I've since added 2 unsecured cards (both with 0 balances) that I am leaving open. The limit is higher than the secured card $1500 and $700). Because of the high limit- I honestly am not tempted to use them. I would use the $200 card in a heartbeat because I know I have the $ to pay it off every month BUT that is $200 I need to be sending to other debts instead of buying crap. If it is a need- I'll just pay cash for it up front.

The rest of our debt is in my husband's name but it is most assuredly both of our burden and that's what we are getting rid of now!

Mailing off $34 in rebate forms tomorrow and putting it in my Christmas fund when it comes.

We both only get paid once a month so our first snowball payment from paying off our personal loan ($111) will go to the next credit card.

 

[jenny105]

For those paying off credit cards, are you closing them? Or leaving them open unless it's a big temptation? I can put mine away and not see them so I won't use them!

I won't be closing mine. I use my Disney visa to pay my monthly bills. The charges are paid as soon as they hit. I used to have them linked directly to my checking account but switched everything over to get the rewards. The problem I have is that I need to stop using credit cards for spur of the moment charges but I'm getting better

Add me to the list of people who vacation while in debt. I know you're not supposed to but ya gotta get away every now and then!

 

[StitchesGr8Fan]

DH paid off another credit card yesterday. 2 left and one will be done the end of march! We think we can be CC debt free by the time baby gets here!