Debt Dumpers - 2015

[Dentam]

Huh - for some reason I stopped getting alerts that this thread had more posts. Anyway, I think it is funny that as I am working on paying off my first priority cc, the company keeps sending me a ton of email offers. Never used to hear a peep from them and now all of a sudden there are offers galore. I'm not taking the bait though! Just put my house on the market this past Friday and had an open house on Saturday. Already one person from the open house scheduled to come back tomorrow to see it again so I take that as a good sign. Once it's sold the top priority card will be paid off in full (along with two other cc's I hope) and I don't plan to ever carry a balance on it again. I may get rid of it eventually, but don't want to right away since doing so would mess up my credit utilization ratio which would affect my credit score. Same goes for my other cc's. My goal is to never carry a balance on a cc again unless it has 0% interest.

 

[gracie1]

Huh - for some reason I stopped getting alerts that this thread had more posts. Anyway, I think it is funny that as I am working on paying off my first priority cc, the company keeps sending me a ton of email offers. Never used to hear a peep from them and now all of a sudden there are offers galore. I'm not taking the bait though! Just put my house on the market this past Friday and had an open house on Saturday. Already one person from the open house scheduled to come back tomorrow to see it again so I take that as a good sign. Once it's sold the top priority card will be paid off in full (along with two other cc's I hope) and I don't plan to ever carry a balance on it again. I may get rid of it eventually, but don't want to right away since doing so would mess up my credit utilization ratio which would affect my credit score. Same goes for my other cc's. My goal is to never carry a balance on a cc again unless it has 0% interest.

My cc companies did the same thing! That is great news on the house!! Hope you get an offer soon!!!

 

[PrincessKymm]

I am so excited to see everyone is doing so well! I haven't really made any more progress this month BUT I sleep easier at night knowing my bills are paid and I've got cash on hand!

I'm giving myself until July 31 to really work hard and whatever is not paid off I will have to readjust as I want to re-up my 401k contributions starting in July. I also need to start up contributions to DS's 529 again. His 529 just looks sad.

I figured out my summer expenses and they are more than expected. DS has grown so much he will need all new baseball stuff (glove, bat, cleats, etc) so I'm reaching out to family and asking them to contribute since I tried so hard to get him to not play this year and they told me I was being mean. Soccer stuff only cost $40 to replace everything because I made DS use the gift card he received for his birthday. I can't believe how tall he is now!

 

[Dentam]

Received two offers on my house - woohoo!!

 

[bcwife76]

Received two offers on my house - woohoo!!

That is fantastic!!!!!!! Woohoo!!!!!!!

 

[*3*Mouseketeers]

I just thought about this! Does anyone know the answer? We have a little over $32 in our Disney Chase Rewards account, which is tied to our Disney Chase Visa card. If I transfer the entire balance over to a 0% interest card without redeeming it first, will they wipe those rewards away? Or even if I redeem them now, will they make me pay them back after the transfer? Hate to lose them, but will if I have to

I have transferred the balance of my Disney Visa to a 0% card and I didn't lose the rewards.

 

[gracie1]

Received two offers on my house - woohoo!!

That is fantastic!!!!!!! And fast!!

 

[gracie1]

I have transferred the balance of my Disney Visa to a 0% card and I didn't lose the rewards.

Great! Think of the savings of not paying that interest!

 

[Dentam]

That is fantastic!!!!!!! And fast!!

I know, super fast - it was just placed on the MLS listing late Friday night with an open house this past Saturday. Got full asking price!

 

[DnA2010]

Well upon receiving our tax packages back from accountant (dads cousin so very cheap to get done) we are getting a large refund so that combined with some savings = goodbye last 10k of our car loan! Paid car off in 28 months not 4 years I can proudly say we only have our mortgage (no cc or LOCs etc) now so I am def going to look at a end of Aug road trip to DL! Def time we got some Disney Magic!

 

[Gr8t Fan]

I know, super fast - it was just placed on the MLS listing late Friday night with an open house this past Saturday. Got full asking price!

That is AWESOME! Congrats. Wishing you a speedy close with no bumps.

 

[gracie1]

I know, super fast - it was just placed on the MLS listing late Friday night with an open house this past Saturday. Got full asking price!

I know you must be super happy!!! That is great - full asking pricing!

 

[gracie1]

Well upon receiving our tax packages back from accountant (dads cousin so very cheap to get done) we are getting a large refund so that combined with some savings = goodbye last 10k of our car loan! Paid car off in 28 months not 4 years I can proudly say we only have our mortgage (no cc or LOCs etc) now so I am def going to look at a end of Aug road trip to DL! Def time we got some Disney Magic!

Wow, that is great!!!! Hope you still decide to be a part of this thread to help support others!! Have fun planning your trip!!!

 

[DnA2010]

For sure! Would love to help out others! We really focused on cutting out extras and building out an excel budget really helped. Ditched the eating out too!

 

[Angeejoe]

Don't feel bad, we owe twice what you owe this year, due to us moving & husband and I both making a lot more than we used to. I look at it as a positive too, like ruadisneyfan2 said! I'm not sure that this will be enough of a tax strategy to reduce next years taxes, but DH upped his deferred comp. plan another $50, and he had just increased it by that same amount, I think in the fall. We may have to increase our tax withholdings too, haven't done that yet, since we have several events coming up that we need the $$ for.

We just paid off our Discover card, and today I'm trying to figure out whether to transfer a different card "back" to Discover since we have enough credit line to handle it, and they have a 0% interest rate for 12 months with 3% BT fee, OR see if Chase Slate will give us enough credit line to transfer to them (15 months 0% interest, NO BT fee!) I've also considered transferring the remaining 3 cards to a lending club like Prosper or Lending Club, but I know the also charge an origination fee, which I think is 1% of the balance, but there is no prepayment penalties, and you can set it for as low as 3 years payback, which I'm hoping to have done in 2-2.5.

It's always a bummer to have to pay!

What's an origination fee?

Huh - for some reason I stopped getting alerts that this thread had more posts. Anyway, I think it is funny that as I am working on paying off my first priority cc, the company keeps sending me a ton of email offers. Never used to hear a peep from them and now all of a sudden there are offers galore. I'm not taking the bait though! Just put my house on the market this past Friday and had an open house on Saturday. Already one person from the open house scheduled to come back tomorrow to see it again so I take that as a good sign. Once it's sold the top priority card will be paid off in full (along with two other cc's I hope) and I don't plan to ever carry a balance on it again. I may get rid of it eventually, but don't want to right away since doing so would mess up my credit utilization ratio which would affect my credit score. Same goes for my other cc's. My goal is to never carry a balance on a cc again unless it has 0% interest.

Received two offers on my house - woohoo!!

Congrats on the offers on your home, that's great news!

I have transferred the balance of my Disney Visa to a 0% card and I didn't lose the rewards.

Well that's a great bonus to get 0% & keep your rewards.

 

[ruadisneyfan2]

It's always a bummer to have to pay!

What's an origination fee?





Congrats on the offers on your home, that's great news!



Well that's a great bonus to get 0% & keep your rewards.

It's a fee charged by banks for a loan. I've only heard of it for mortgages but I suppose there's nothing stopping them from adding those fees onto any loan. Usually it's expressed as a % of the original loan amount. This is paid up front at settlement and is completely separate from accrued interest.

ETA: Congrats to all of you doing so well!
Not much to report here. Still plugging away at one of my biggies. According to The Plan it should be done by July 2.

 

[Dentam]

Congrats on the offers on your home, that's great news!

Thanks! I'm under contract now and the buyer's inspection is next week. I already had the house inspected and repaired the significant issues before placing it on the market. Hoping for a smooth road to closing.

 

[Angeejoe]

It's a fee charged by banks for a loan. I've only heard of it for mortgages but I suppose there's nothing stopping them from adding those fees onto any loan. Usually it's expressed as a % of the original loan amount. This is paid up front at settlement and is completely separate from accrued interest.

ETA: Congrats to all of you doing so well!
Not much to report here. Still plugging away at one of my biggies. According to The Plan it should be done by July 2.

Thanks!

Thanks! I'm under contract now and the buyer's inspection is next week. I already had the house inspected and repaired the significant issues before placing it on the market. Hoping for a smooth road to closing.

I've got my fingers crossed for you!

 

[dayvewc]

Thanks! I'm under contract now and the buyer's inspection is next week. I already had the house inspected and repaired the significant issues before placing it on the market. Hoping for a smooth road to closing.

Got my fingers crossed for you as well!!

(though, when I first tried to type that, i got my fingers well and truly crossed, and accidently wrote that I had "my gingers crossed" for you. Not quite sure what those would be, but gave me a bit of a chuckle.)

 

[k_reile]

Still plugging away...will have one more card almost paid off by the end of this month! It would be great if I could have it completely paid off but most likely next month! Then will have 2 more. And one of those will only be a couple more months as well. Started the year with 4 cards totaling nearly $9500. Will have almost $4k paid off by the end of June hopefully. It's almost addicting. My FICO score has raised 16 points since I started too! I have always had excellent credit but those credit balances has killed it so it dipped under 700...but now I am back to over 700.