Tuesday, October 31, 2006

Discover Card - Yikes!

I got our Discover Card under grips now. At least I know where we stand with things...

As of today - we owe $7462.76 with an interest rate of.... are you sitting down - 28.99%


We have caught up on all of our payments and they credited us over the limit and late fees totalling $78.00 and some finance charges totalling $122.00. The representative I spoke to was so nice. She said if I paid $285 today, and set up payments of $220 for the next 4 months, she would make all these credits for us. After that, we can lower our interest rate. We are now officially under our credit limit and will stay that way until this card is paid off.

I took her up on the offer instantly.

I get some money in a few weeks for some "flex time" I didn't use at work this year. I am applying all of it to debt. Total of this check will be almost $850.00.

I am bringing Peanut Butter and Jelly sandwiches to work every day, drinking tons of water, not buying any extras, etc. I have to do this to get some sort of a life back. Every extra dime needs to be out towards getting out of debt. This is my commitment. It must be done!!

Moral of today's posting - Don't get yourself into debt over your head, EVER. If you do, it will be very hard to get back to a level surface.

Friday, October 13, 2006

$25K in Credit Card Debt - I am getting a handle on it all

Hello Everyone,

Today I realized that my credit card debt is absolutely AWFUL! I have to do something about it ASAP or I will be in trouble very soon.

History: I have never been great with credit card debt. I was always able to pay the monthly minimums and it just kept getting worse and worse. My Wife and I got married, had our first child and we decided she should stay at home. (Great thing for our child - Not great thing for our spending habits) Long story short and two beautiful children later - we have approximately $25,000 in Debt* My Wife and I are also planning on going thru a divorce within the next year (yeah - more problems to add to my plate - she is "not happy anymore")

*Not even sure if that is close to the number anymore. I assume it is nearby that number and this blog will help me figure it all out. I am committing myself to update this blog weekly if not more often. You'll see my numbers, my plan, and how I deal with things.

I am open to all advice, good or bad in terms of debt, divorce, and finances and anything else you want to share with me.

Thanks again for listening!

I need to do something quick....

DISCLAIMER: I am not a financial advisor. This blog is a way for me to hold myself accountable. While I share some of the methods I have used, I do not guarantee that it will work for anyone else and if you try them - it is at your own risk.