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%

YIKES!

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.

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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.