2010 Debt Reduction Challenge - Discussions - Page 3
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  1. #31
    Registered User NikoSan999's Avatar
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    FDAC Fl Dept of Agri $375
    Southern Grove Hydro $871

    TOTAL $1246

    These are business and billed to us to be paid with deadline. Not sure how you are doing these. No interest/penalty as paid before deadline.
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

    Challenges
    Coupon/Sales Challenge Feb
    $8.00

    Grocery Challenge/Feb
    Goal $250.00
    Total $33.55

    Eat Out No More Feb
    Goal 20
    Accomp/8

    No Spend Challenge/Feb
    Goal 20
    Accomp 4

    Change Jar 2020
    $

    Christmas Fund 2020
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  2. #32
    Registered User Greebo's Avatar
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    Quote Originally Posted by NikoSan999 View Post
    FDAC Fl Dept of Agri $375
    Southern Grove Hydro $871

    TOTAL $1246

    These are business and billed to us to be paid with deadline. Not sure how you are doing these. No interest/penalty as paid before deadline.
    Niko

    What are they for?

    The Hydro sounds like an electric bill - which would imply a utility, not a debt - unless it's something past due.

    What's the Dept of Agriculture bill?
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  3. #33
    Registered User NikoSan999's Avatar
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    Quote Originally Posted by Greebo View Post
    Niko

    What are they for?

    The Hydro sounds like an electric bill - which would imply a utility, not a debt - unless it's something past due.

    What's the Dept of Agriculture bill?
    Neither are utility. The Southern Grove Hydro something, Hydraulics, is a repair bill, billed to us. and Dept Agri is a billed bill for some new permit they have come up with. Penalty if not paid by such and such. yuck

    Really wasn't sure on these. Both billed by mail. Not paid on spot...Let me know so I, myself will know next time.
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

    Challenges
    Coupon/Sales Challenge Feb
    $8.00

    Grocery Challenge/Feb
    Goal $250.00
    Total $33.55

    Eat Out No More Feb
    Goal 20
    Accomp/8

    No Spend Challenge/Feb
    Goal 20
    Accomp 4

    Change Jar 2020
    $

    Christmas Fund 2020
    $
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  5. #34
    Registered User Greebo's Avatar
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    Quote Originally Posted by NikoSan999 View Post
    Neither are utility. The Hydro something is a repair bill, billed to us. and Dept Agri is a billed bill for some new permit they have come up with. Penalty if not paid by such and such. yuck

    Really wasn't sure on these. Both billed by mail. Not paid on spot...Let me know so I, myself will know next time.
    I'm gonna have to go with no on these. Neither is a loan, both are basically payable on demand which makes them bills, not statements of debt.

    Sorry.
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  6. #35
    Registered User NikoSan999's Avatar
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    Ok, so will know next time. That works...if in doubt...ask!
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

    Challenges
    Coupon/Sales Challenge Feb
    $8.00

    Grocery Challenge/Feb
    Goal $250.00
    Total $33.55

    Eat Out No More Feb
    Goal 20
    Accomp/8

    No Spend Challenge/Feb
    Goal 20
    Accomp 4

    Change Jar 2020
    $

    Christmas Fund 2020
    $
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  7. #36
    Moderator Ceashels's Avatar
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    So the bright side of that is $1246 debt you DIDN'T have!
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  8. #37
    Registered User NikoSan999's Avatar
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    One of those glass half empty..half full.

    Still had to be paid BUT no interest. Bad thing is neither bill was expected on a REALLY bad month anyway. One a repair bill..unexpected and the other a brand new permit charge that no one knew about until the bill came that has a penalty fee if not paid within like 3 weeks. But they are paid.

    Oh well, the business comes first. Has to. Unfortunately that was house payment money that was due the 1st. ( glass totally empty ) Leaves us short on house payment. Next paycheck tomorrow is $662 clear so it would take this weeks and next weeks to make the house and would leave us about $80 for food and gas for about 2 weeks for him to go to work. Thats if it is paid in person over the counter at Bank of Hell on the 15th. Late is the 16th on a Saturday. Not counting anything else. Phones should start shortly.

    Oh well, knew it was coming...glass still empty on this end.
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

    Challenges
    Coupon/Sales Challenge Feb
    $8.00

    Grocery Challenge/Feb
    Goal $250.00
    Total $33.55

    Eat Out No More Feb
    Goal 20
    Accomp/8

    No Spend Challenge/Feb
    Goal 20
    Accomp 4

    Change Jar 2020
    $

    Christmas Fund 2020
    $
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  9. #38
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    Mrs. McD: I noticed you posted your debt payment today. You said let's not talk about your student loans, but I have a question. With you military past and your DH current military service, does the military not help you repay student loans? I thought that was one of the perks of joining. Thanks!
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  10. #39
    McD
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    Quote Originally Posted by qsaver704 View Post
    Mrs. McD: I noticed you posted your debt payment today. You said let's not talk about your student loans, but I have a question. With you military past and your DH current military service, does the military not help you repay student loans? I thought that was one of the perks of joining. Thanks!
    We are (were) Guard. Once we get out, we no longer qualify for tuition assistance. So, if Zac were to go to school (which I keep encouraging him to do) they will pay for 100% of his tuition. I have an honorable discharge but no longer qualify for the tuition assistance.

    We both qualify for and have used the G.I. Bill. I recieved my G.I. bill the entire time I went to college and used it for numerous things other than my education---like aggresively paying down our debts.

    Zac will have received it for the the entire time he was in the police academy and in his FTO program with the Police Department--it qualifies as on the job training. THe VA is currently processing that and when we get it, we shall get about 5K, all non-taxable.

    Had I stayed in the Guard after the birth of my son and continued my education, it would have been 100% paid for--but I was unwilling to deploy and didn't feel right staying in just for the education $$ when I wasn't willing to do the work needed, kwim?
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  11. #40
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    Don't blame you, was just wondering. Thanks for explaining
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  12. #41
    Registered User Greebo's Avatar
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    We are refinancing our principal residence in order to roll the heloc and 1st mortgage into 1 fixed rate loan. This will mean no more variable rate interest only heloc, and we'll save a great deal long term on interest paid out.

    So for the bad news...

    The downside is, the costs of the refinance are rolling into the mortgage, so that will cause the amount of debt we owe in total to increase.

    In short - the refi costs will eliminate a big chunk of our principal reduction so far in 2010.

    Sorry guys - but Greebo and Ceashels are single-handedly undermining our FV group progress for the year in the completely selfish interest in advancing our individual situation over the next 30.
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    Greebo, it sounds like you're making the best decision for the long run. Congrats on being able to eliminate the variable interest only loan!

    I was wondering, have you thought about slowing down your snowball for a few months and piling up cash to be able to pay closing costs without rolling them into the loan? I'm sure you've thought of that and run all the numbers on the comparative interest in either situation
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  14. #43
    Registered User Greebo's Avatar
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    Quote Originally Posted by kmonokwe View Post
    Greebo, it sounds like you're making the best decision for the long run. Congrats on being able to eliminate the variable interest only loan!

    I was wondering, have you thought about slowing down your snowball for a few months and piling up cash to be able to pay closing costs without rolling them into the loan? I'm sure you've thought of that and run all the numbers on the comparative interest in either situation
    We considered it but decided against it for a few reasons:
    1) Rates are at the lowest levels in recorded history
    2) More foreclosures are coming, IMO
    3) The HELOC is variable rate

    The combination of the first two means that in a few more months, we might again not be able to get the value on the house we need to do the refinance. Add in the 3rd and if rates go thru the roof like some suggest, we'd be over a barrel. I don't think they will, but I'm also not playing the odds.

    We could bring more cash to the table, but not without halting our retirement contributions again and draining a substantial portion of the EF.

    The net impact is that long term we save less interest on the loan than if we had brought cash, but still more than if we stayed with the current loan.
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  15. #44
    Registered User Sassyclass's Avatar
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    We got the new bill for the Harley yesterday. They changed the format and I'm so happy they did. The old one just gave us the principal total owed. The new one now has the break down of the payment so I won't have to figure out the principal and interest. I think all of our interest bearing bills now have both principal and interest on the statement. Nice.

    Cat
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  16. #45
    Registered User scooby8themall's Avatar
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    How would I post payments I make on Credit cards if I'm not actually paying on each card (I pay one monthly payment) I am in Debt consolation I do see statements but no interest or principle, all Credit cards are closed and not usable.
    And my Mortgage is through a private lender I don't know what my interest or principle is .TIA for any help on this
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