War on Debt: Salvage

In January, I declared war on our credit cards.  With over $11,000 dollars in credit card debt, I mapped out a basic plan to accomplish the goal of being free of credit cards by 2012.  And in the spirit of complete honesty, I’m going to share the nitty gritty details with all of you.  (*Names of creditors have been changed to protect the not-so innocent.)

Ok, so things aren’t that bad… 

While our recent transportation tragedy was unexpected, and certainly a pain in the ass, at least we are able to manage the financial windfall from losing a car that was nearly paid off.  We are bringing in enough income to handle a car payment for a while longer and we even have a little money in savings to make a down payment.  Because I am assuming that the check from the insurance company will arrive around the same time as The Rapture. 

However, it’s still a little heartbreaking since I REALLY didn’t want to start over with another $10,000 loan.  Not to mention paying $10,000 for a car that is roughly equivalent to the deceased.  That we bought 3 years ago.  But one thing I don’t want to do is buy a new car and have a monthly payment greater than our mortgage.  Because we are still focused on paying off our credit card debt.  And I don’t want that to change. 

Through May we have paid off $5531.03 in credit card debt.  Two cards are gone.  Leaving one small balance and the beast of all our debt.  I’m pretty sure we transferred the balance of all our other cards to Aardvark at least once.

I was able to scrounge up the extra $130 to pay off Badger.  Or so I thought.  Because when I received my statement, instead of a $0 balance I saw a residual amount for interest accrued during May prior to when my payment was made.  Which was bullshit.  So I called up the credit card company and told them it was bullshit.  And they pushed a button and magically made the $13 go away because they were afraid that I was breaking up with them.  So I said it’s not you, it’s me and we could still be friends.  And that made them happy.

Next post in the War on Debt: Derailed

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2 Responses to War on Debt: Salvage

  1. Winning! | says:

    […] post in the War on Debt: Salvage This entry was posted in Budget, Debt, Goals. Bookmark the permalink. ← Chicken […]

  2. Great, funny posts! Way to pay down the credit card! My {first} husband and I were talking yesterday about using a cash system for eating out and non essentials!
    Way to go, laura