Our progress...I figured stuff up and we've decreased our overall total debt by a bit over $2K this year in Jan and Feb. Not as fast as most on here, it seems, but I'm happy about it!
Thanks for the welcome! So are y'all ready for me to lay it on you?
Our total in credit card debt is $37,782.34 . We also have a car loan that has a balance remaining of $5,898.95.
It breaks down like this:
Blue AMEX $14,965.43 ($4,092.75 @ 8.99%, $6,465.36 @ 5.99% and $3,403.85 @ 2.99%)
Delta AMEX $3,893.67 @ 16.49%
Wells Fargo Student Visa $1,500 @ 23.55% (cash advance, OUCH!)
Wells Fargo Signature Visa $8,921.37 @ 9.99%
USAA Mastercard $3,015.12 @ 9.99%
Citifinancial Retail Services (i.e. our bed) $2,719.58 @ 0 interest/0 payments until 02/2009, 22.99% after that
Citi Card $2,767 @ 0.00% until 03/2009 then it will be 10.99%
Wells Fargo Car Loan $5,898.95 @ 6.5%
So there you have it. It makes me embarrassed to no end to share that but I'm getting real. We have a butt load of stupid, stupid, stupid (add about a billion more stupids) debt. We also have a mortgage and oh why not? A second mortgage!
DH and I have been having some very serious talks about our debt lately. DH gets an extra paycheck in May that we will be using to fund our emergency fund fully. We are also going to put the stimulus check in our emergency fund (I am having a baby in July so we want the EF to be well padded). In July/August DH will hopefully be caught up with his business and start getting his commission check which will go towards debt 100%. The check in July/August will be at least $3000 but probably more. Then we will be rolling the snow ball. We have 18 car payments left on DH's car and then after we have that paid off we can use that towards debt too.
As daunting as it is, I know with a little patience, sacrifice and hard work we will get through this. Also, we are current on all of our bills, we don't have creditors calling or anything like that.
Thanks for listening!