April Status Report

We are a little late this month and, I have to admit, a little discouraged an depressed, but we will continue to fight...Here's are status as of April 16, 2010...

1. CitiCards $8,275.42
2. BA CC $3,921.73
3. BA LC $38,084.26
4. CitiCards (Student Visa) $2,362- Settled January '09 for 35%
5. USAA CC $12,118.66
6. WAMU $1,102.49- Settled October '09 for 50%
7. Capital One $1,663.79- Settled August '09 for 40%
8. Chase $1,374.46- Settled March '09 for 50%
9. Credit Union CC $1,334.13
10. Victoria's Secret 242.45- Settled January '10 for 50%
11. Car 1 3,503.10- Sold October '09
12. Car 2 $10,138.29
13. Harley 2,400- Paid Off January '10
14. Bally's 424.80- Settled January '10 for 50%
15. Discovery Card $8,969.86

Tota Debt Remaining: $82,842.35

We made a little progress, but not much...it's getting tougher.

Dad Student Loan Status- March 1, 2010

1. ACS Loan: $118,012.87 This loan recently defaulted and I was told that they would add 18% no matter what I do from now on...I don't know what to do here?
2. Defaulted Federal loans: $59,053.20
3. Federal loans: $3,186.

Total Owed: $180,252.07

March 1, 2010 Status

Still slogging through this one bill at at time. Here is our status:

1. CitiCards (Amex) $8,375.42
2. BofA CC $3,921.73
3. BofA LC $38,084.26
4. CitiCards (Student Visa) $2,362 Settled 1/09 35% of balance owed!
5. USAA $12,215.66
6. WAMU/Chase $1,102.49 Settled 10/09 50% of balance owed!
7. Capitol One $1,663.79 Settled 8/09 40% of balance owed!
8. Chase Cards $1,374.46 Settled 3/09 50% of balance owed!
9. Credit Union CC $1,350.05
10. Victoria's Secret $242.45 Paid Off January 2010 for 50% of balance!
11. Car 1 $3,503.10 Sold 10/09
12. Car 2 $10,543.32
13. Harley $2,400 Paid Off January 2010
14. Bally's $424.80 Paid Off January 2010 for 50% of balance!
15. Discover Card $8,969.86

Total Debt Remaining $83,460.30

So far, in the past 13 months, we have managed to pay off $26,862.88. Only $83,460.30 left to go!!!!

Dad's Student Loan Plan

Okay...One year into paying off the credit cards and I am now going to add Dad's student loans into the mix. Here's the Plan: Pay off $177,470.01 in Dad's Student Loans in 5 years....this will be tough, but if the credit card plan goes as planned, it shouldn't be a problem. Mom also has student loans, but we aren't adding those in yet...she's still in school and it would be too depressing to see those here...

Dad's student loan debts are as follows:

1. Private Loans: $118,012.87. I'm about 270 days past due on this, but I've been making almost full payments for the past four months....not in collection yet!
2. Defaulted Federal loans: Here's the story...I defaulted on four of six loans last September and and they were sent to collection. The deal with the collection agency was that I would make monthly payments of $585 for nine years a 0% interest. The balance to date is $60,223.20.
3. Federal loans: These are the two federal loans that did not default. Balance owed: $3,279.

Total Owed: $181,515.37

Here's to a debt free life...wish us luck!

February Status Report

Still slogging through this one bill at at time. Here is our status:

1. CitiCards (Amex) $8,475.42
2. BofA CC $3,657.98
3. BofA LC $38,084.26
4. CitiCards (Student Visa) $2,362 Settled 1/09 35% of balance owed!
5. USAA $12,341.66
6. WAMU/Chase $1,102.49 Settled 10/09 50% of balance owed!
7. Capitol One $1,663.79 Settled 8/09 40% of balance owed!
8. Chase Cards $1,374.46 Settled 3/09 50% of balance owed!
9. Credit Union CC $1,364.30
10. Victoria's Secret $242.45 Paid Off January 2010 for 50% of balance!
11. Car 1 $3,503.10 Sold 10/09
12. Car 2 $10,808.65
13. Harley $2,400 Paid Off January 2010
14. Bally's $424.80 Paid Off January 2010 for 50% of balance!
15. Discover Card $9,065.86

Total Debt Remaining $83,798.13

So far, in the past 13 months, we have managed to pay off $26,525.05. Only $83,798.13 left to go!!!!

January Status Report

One year has passed since we started our debt free life plan...I think, all in all, we've made good progress, although it has slowed down of late. We are just going to keep plodding through this...Below is our status:

1. CitiCards (Amex) $8,575.42
2. BofA CC $3,657.98
3. BofA LC $38,084.26
4. CitiCards (Student Visa) $2,362 Settled 1/09 35% of balance owed!
5. USAA $12,467.66
6. WAMU/Chase $1,102.49 Settled 10/09 50% of balance owed!
7. Capitol One $1,663.79 Settled 8/09 40% of balance owed!
8. Chase Cards $1,374.46 Settled 3/09 50% of balance owed!
9. Credit Union CC $1,402.56
10. Victoria's Secret $242.45
11. Car 1 $3,503.10 Sold 10/09
12. Car 2 $10,984.12
13. Harley $2,400
14. Bally's $424.80
15. Discover Card $9,361.86

Total Debt Remaining $87,601.11

In our first year, we have managed to pay off $22,722.07. I don't think that's too shabby, but we still have a lot of work cut out for us with $87,601.11 left to pay off next year in order to fulfill our plan. Wish us luck and have a happy and debt free new year!

December Status Report

Not much has happened lately with the debt. We are saving up for another big settlement and just slowly working our way through this. With every payoff, we free much needed cash flow and we expect that our progress will quicken with a just a couple more settlements. Wish us luck! Here is our debt status:

1. CitiCards (Amex) $8,675.42
2. BofA CC $3,657.98
3. BofA LC $38,084.26
4. CitiCards (Student Visa) $2,362 Settled 1/09 35% of balance owed!
5. USAA $12,593.66
6. WAMU/Chase $1,102.49 Settled 10/09 50% of balance owed!
7. Capitol One $1,663.79 Settled 8/09 40% of balance owed!
8. Chase Cards $1,374.46 Settled 3/09 50% of balance owed!
9. Credit Union CC $1386.18
10. Victoria's Secret $242.45
11. Car 1 $3,503.10 Sold 10/09
12. Car 2 $10,984.12
13. Harley $3,000
14. Bally's $424.80
15. Discover Card $9,557.86

Total Debt Remaining $88,606.73