First thing to getting rid of DEBT - Page 4
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  1. #46

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    I keep a running list of my "bad" debt - the credit cards. I don't include the "good" debt in this total, partly for psychological reasons (I just got out of school and just purchased my apartment, so these loans are still very high), but also because the rates are good and they are good long term loans.

    Not to mention, the cc debt is high enough to kick my bum into gear!

  2. #47
    TammyBob bamamomto4's Avatar
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    Due to unforseen reason we have packed on some cc debt.Im not dipping into our life savings to pay this off and Im HOPING who we loaned "large" amounts of money to will pay us back..but if I held my breath..Id die..soooo as much as I hate it...this time last yr we had NO cc debt...NO bills others than utilities and mortage now I have 3 cc's I owe on over 10,000......its been a bad year for me.Some of you know...and well...a lot was dumped on me when my parents passed away 2 months apart and I had no help from any family or my siblings,who I have recently just cut out of my life.I tried helping my sister keep custody of her son by retaining a lawyer for her and instead she took that money and blew it.....Im not going into ALL the details but as of now,I have absolutely nothing to say to her.I loaned her money after she and my brother didnt help with either funeral with the promise of 'she'd pay me back everything' and hasnt.....I got tired of it and ..well...just dont have anything to say to her.Its put a hurting on us with a high mortage and some months I've had to use cc's for different reasons ..hubbys truck went in the shop,he needs new tires,my oldest daughters car needed work..our a/c flooded the basement...aww you name it....Sooooooo.....we were doing pretty good last yr,and still are to an extent,but where I had NO cc debt,I now have some and sure I will add more for Christmas...Im not depriving my kids of a good christmas.They wont be as spoiled..but I do have 4,so its not cheap anyways.

    My 1st thing to get rid of is cc debt.

    Im thinking of taking a job to pay it off quicker,but my kids have always had me home and my hubby doesnt want me to work,but,I dont like having this debt hanging over me.Sure I can pay the min but Itd take forever to pay off.
    ugh...Im just whining I guess lol...we worked SO hard to get to where we are and now all this.....but lesson learned...never,ever loan money to family....*huge sigh*

  3. #48
    Registered User mmy2grls's Avatar
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    I'm starting to figure out all my debts, i'm scared the more I find

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  5. #49

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    OK (GULP!) Here's mine:
    DEBT:
    Overdraft: $825
    Visa: $1537.46
    Mastercard: $15,212.26 (531.71 minimum)
    Truck Loan: $15,065.78 (513.03 per month)
    Mortgage: $198,818.54 (1300 per month)

    It makes me sick to think of how much interest we are paying on all this!

  6. #50

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    Hi I am new here. I want to try to get rid of our debt. ..

    STUPID QUESTION though...

    How do you KNOW of everything you owe? Somethings I know are there but have no record of them... I could put a 10.00 credit report but is that really beneficial? Our car just got repod so I know I have bad credit... lol.

    Any advice would be wonderful!!

    tyia

  7. #51
    Registered User KJayEsq's Avatar
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    Quote Originally Posted by misty View Post
    Hi I am new here. I want to try to get rid of our debt. ..

    STUPID QUESTION though...

    How do you KNOW of everything you owe? Somethings I know are there but have no record of them... I could put a 10.00 credit report but is that really beneficial? Our car just got repod so I know I have bad credit... lol.

    Any advice would be wonderful!!

    tyia
    Hi Tyia,

    You are entitled to a free copy of your credit report every year, so you don't have to pay $10.00 to get it.

    Although I can't speak for everybody here, the general consensus on these forums seems to be that you should pay off old or bad debt anyway for a few reasons: (1) it will help your credit score, and (2) there is a moral obligation to pay back money that was borrowed.

    I would absolutely get a copy of your credit report and see what is out there. It may not be as bad as you think. Even if it is...now you'll know what you are dealing with.

    After you find out what is out there, sit down and do a written budget. Ask yourself how much you can apply to this old debt while keeping any current debt up to date on payments. Then call the first creditor you want to pay off and ask them to put you on a payment plan.

    Also...read Dave Ramsey's "The Total Money Makeover." It will really help. Good luck and keep everybody posted on how you are doing!!

  8. #52

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    Thank you for the info! I pulled 2/ 3 of my free credit reports.. (the other one I have to call tomorrow for some reason)

    Anyways. I wrote down all the debt we owe from the one (experian) and it totals $4,415 the other one (the other E one...) is way differant. I found a few of the same creditors but they have differeant totals so Now I am even more confused. I am not sure who to believe and who not to LOL. I am planning on mailing a letter to each and ask for current balances and any info I may need...
    If they get returned to me does that mean I dont have to pay them?? if they "staying on report" date is coming up soon should I just ignore that debt?

    ty again in advance :-)

  9. #53
    Registered User mombottoo's Avatar
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    I have found this first step to be the hardest...it's hard to face those figures . Luckily most of our debt can be paid off within a year!!! I found a small journal in box I had tucked away so that's what I will be using to track things now. Good luck everyone!!!!
    "Life is what happens while you are busy making other plans." John Lennon
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  10. #54
    Registered User Janbee's Avatar
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    I have put all mine on the Excel spreadsheet. I like to see it and move it around so that I can figure out the best way to get it to pay off faster.

  11. #55
    Registered User larabelle's Avatar
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    Quote Originally Posted by Janbee View Post
    I have put all mine on the Excel spreadsheet. I like to see it and move it around so that I can figure out the best way to get it to pay off faster.
    I do likewise. Just having it on a spreadsheet helps me alot. I also posted it on my pantry door so that everytime I enter the kitchen I see it.
    Blessed and Highly Favored!!!!
    From $78K in debt to debt free and purchased a house and used car with 100% cash...God is sooo Good!!!

    Goals:
    New to me vehicle

  12. #56
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    I already wrote down ALL my debts. I'm going to start working on my first credit card pay off and use the journal idea to keep track. Will help alot with motivation.

  13. #57
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    good luck with your debt reduction, and you will enjoy the feeling of crossing the debts off your 'to pay' list

  14. #58
    Registered User Tnmom's Avatar
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    Why is talking about how much money you owe so hard?? Several months ago, I sat down and listed everything we owed, I found this site and promised myself we were going to get our bills paid down.. We have several smaller bills..both of my children had emergency surgery 6 months apart..one in 07 and the other 08..hospital bills Then of course the house, the car, credit cards, home improvement loan..


    Today I paid off one small loan!!!!

    125.00 May 21st 08

    Paid off July the 15th 08

    Ok so its really not that much but it's enough I hope to keep me focused on the big goal~~Being Debt Free

  15. #59
    Registered User Bournecrazy's Avatar
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    people know they owe money but until its written down infront of them they either dont know how much they owe or dont want to acknowlede the amount especially if its a high figure. my opinion tho.

  16. #60

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    This is a great idea, thanks for sharing

    I'm going to sit down and figure it all out in a little while. I have a feeling I'm not going to like what I come up with! I'll post again when I have it all figured out.

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