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DueMinder.com

Sixty To Zero

My journey to pay off $60,000 of debt in 3 years


Oct 31

Credit Card Debt - Oct 2008

Published in rehabreal estatecurrent debtcommitment by kvan Print PDF

The chart below shows my credit card debt starting in January, 2008, and running through October, 2008. As I've mentioned elsewhere, I invested in a real-estate rehab, which spiked my total credit card debt to $63,000 in February.  I got the house rented out in May, and since then, I've worked down the total to debt as shown in the chart below: 

 

 

 

Below is a detailed summary of my credit card debt as of the end of October, 2008.  As you can see in the "Monthly Commitment" field, I am committing to $1,500 in payments per month to accelerate payoff of my debts.  Minimum payments total $1,140, so $360 is applied directly to principle over an above my minimum payments.  As shown in the Payoff Date field, at this rate, I will be out of debt by August, 2012, a little less than 4 years from now.  I'm hoping to shave more time off of this by paying down principle by $8,000 or so after refinancing the rental house.


 

 

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written by Mac Eyeshadow, November 04, 2011
The article is worth reading,Mac Concealer I like it very much.Mac Eyelash Curler I will keep your new articles

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My Debt

Current Debt: $36,242.95
Starting Debt:$63,311.34
Monthly Commitment: $1,500
Average Rate: 3.72%
Payment Efficiency: 92.35%
Payoff Date: Dec-2011 -2y 2m

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