Buckle Up! Ready for my NEW debt payment plan???
To see click on the pictureThe reason I have been quite last couple of days because I was working on new payment plan andd before announcing it, I want it to make sure everything is clear and all set up. Here is what I've done last couple of day;
As you might remember I had three debt that I need to make payment every month.
- CC#4:$1,902 interest %14 (promotional %0 interest expired) :(
- CC#5:$3,499 interest %11 (promo %0 ended)
- Loan: $13,670 interest %12
I hate paying interest just like any other human being would hate. So I called Wells Fargo which where I have my loan :$13,670 and ask them if they increase the line of credit so that I can consolidate all together in one account. They said yes!
The great news is;
- $6000 increase- 0% until november after that 5.9% until June 2009
- Loan: currently $13,000 they lowered interest rate from 12% to 8.9%
Right Now; I have total $19,000 debt. $6,000 0%, $13,000 8.9%
Also I decided to lower my retirement contribution percentage so instead of paying $1,000 towards debt I will be paying %1,300 per month.
My very first snowball payment plan was showing I would be debt free on April 2010. According to new plan and arrangement I have new snowball payment plan shows I will be debt free by October 2009!
I see the light!
ps:Excluding my car loan. By oct 2009 I will owe around $10,000 on my car.
hey chicky...loving the new plan...btw..its quiet. trust me after 10 odd years my english still needs correcting...
XOXO
hey chicky...loving the new plan...btw..its quiet. trust me after 10 odd years my english still needs correcting...
XOXO
I am loving my new plan too..I ust want to be CC debt free!
What a great plan, I'm tempted to share mine now but it's still such a work in progress. It looks like you are definitely on the right track. Congrats!
Keep doing your thing Chicky!
It's great to have such a good plan! Your debt-freedom date will be here before you know it!
congratulations on getting your rates reduced :-)
Woo hoo Chicky! Congrats on getting the low interest rates!
Hahahah,
I know this is an older post, but I just read it. I LOVE the Chicky magazine. It made me smile and laugh and get weird looks at work.
:)