It was a really crazy end of summer and beginning of the school year, so I've had little to no time to update the blog. My debt reduction plan has slowed to a crawl over the last three months, and I've only made minimum payments in that period. The good news is that my current interest rates are very reasonable, with 5.99% being the highest of the 3 active accounts. I've been paying roughly $625 per month in payments with a roughly 92% payment efficiency. That means $575 per month is going towards principle reduction, and $50 in interest.
My current out of debt date is December, 2011.
| Summary of Credit Cards for user kvan | |||
|---|---|---|---|
| Total Balance | $36,242.95 | Payment Efficiency | 92.35% |
| Minimum Payments | $627.00 | Total Savings | $17,413.28 (17 Years, 11 Months) |
| Monthly Commitment | $1,500.00 | Total Payments/Fees | $38,066.01 / $1,823.06 |
| Kicker Payments | $873.00 | Payoff Date | Dec-2011 (2 Years, 2 Months) |
| Account list for Credit Cards | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Account | Balance | Min | Plan | Rate | Day | Type | Note | Web Site | |
| 401k Loan | $19,097.62 | $370.00 | $370.00 | 4.25% | 1st | secured | Paid off USAA, BofA, Discover | ||
| Capital One | $8,971.33 | $135.00 | $1,008.00 | 5.99% | 2nd | unsecured | http://www.capitalone.com/ | ||
| Citi (BLV) | $8,174.00 | $122.00 | $122.00 | 0.00% | 4th | unsecured | autopay minimum | https://www.citicards.com/cards/wv/home.do | |
| Discover | $0.00 | $0.00 | $0.00 | 0.00% | 12th | unsecured | paid residual interest 7/1/09 | https://www.discovercard.com/cardmembersvcs/loginlogout/app/ac_main | |
| US Bank | $0.00 | $0.00 | $0.00 | 0.00% | 13th | unsecured | https://www4.usbank.com/internetBanking/RequestRouter?requestCmdId=DisplayLoginPage | ||
| BofA NEA | $0.00 | $0.00 | $0.00 | 0.00% | 17th | unsecured | paid residual interest 7/1/09 | http://www.mbna.com/ | |
| USAA | $0.00 | $0.00 | $0.00 | 0.00% | 17th | unsecured | https://www.usaa.com/inet/ent_logon/Logon | ||
| GM Flex Earnings | $0.00 | $0.00 | $0.00 | 0.00% | 19th | unsecured | https://www.gmflexcard.com/GMFlexCard/index.jsp | ||
| Chase/United | $0.00 | $0.00 | $0.00 | 0.00% | 20th | unsecured | pay balance monthly! | http://www.myCreditCardCompany.com | |
| Citi (KAV) | $0.00 | $0.00 | $0.00 | 0.00% | 26th | unsecured | Offer: 3%fee, 0% until 3/1/10 or 2.99% until 9/1/10. Equifax 02/07/2009 | https://www.citicards.com/cards/wv/home.do | |
| Total | $36,242.95 | $627.00 | $1,500.00 | 3.72% | |||||
Note: payment values in red indicate the 'focus'' account, the one to pay down the most.
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
DueMinder's Debt Manager is currently in Beta Testing. This means that major features are complete, and that testing continues by a large group of real users. We are on schedule for a fully operational, General Availability release Feb 1, 2009. Current development news: - Notifications are now enabled (payment notifications, periodic account summary) |
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