I’ve posted before that I’m setting my debts up as a debt snowball. The typical debt snowball is to pay the debts from smallest first to largest last. I did this, but then moved a card to the top because it is a one-year-same-as-cash debt. If we can pay it off by July, then we [...]
(Revised 1/18/09)
This is my second attempt at the debt snowball. After posting the first one, I realized I left off a couple accounts by accident and I left the car loan off deliberately, since I was originally only going to focus on credit card debt. I also left off my wife’s medical bill and my [...]
The checks to pay off most of my credit cards arrived from my refinance company. They were made out in the amount I owed at the time they ran my credit report when I first applied for the loan. Since I had made payments on the accounts since then (and made a couple charges [...]
“Have you ever been late on your mortgage payment?” That was one of the first questions I was aked when I talked to the loan consultant about my refinance.
This conversation took place in early November and I still had not paid my October 15th payment. I had seen a copy of my credit report before [...]
I added up all my debts, how much the minimum payments were, and the amount of interest I was paying every month and when compared to my income, it looked very unlikely that I could even continue to make all the minimum payments. Obviously, I have to pay a lot more than the minimum due [...]
