The dreaded D word. ...Debt.

Just like an alcoholic, there are steps to getting out of debt. One of the first steps is acknowledgment. When you actually write things down and face your issue, your "problem" really hits you in the face. You can see it first hand and realize you truly do have an issue. So, I am here to face my issue. I will acknowledge that I have an issue, and I will confront it head on.  Here goes nothing.

Debt

As of December 21, 2013, my debt load includes:

• My mortgage. We currently owe $111,889
• I also currently owe $400 to my HOA.
• One car payment. We currently owe: $19067
• I have a Victorias Secret card with a balance of $97
• I have a Best Buy card with a balance of $279
• I have a Target card with a balance of $161
• I owe Finger Hut $1234
• We have a joint Texell Credit Card with a balance of $1383
• We have a joint Texell loan for our swimming pool, balance of $2300
• 1 loan from Security Finance, balance of $1500
• 1 loan with Family Loans, balance of $1000
• My daughters 3rd grade homeschool balance $500
• College Network (AKA HORRIBLE joke loan), balance of $6042

Wow. As I look at this, I realize how many terrible choices I made. I want to enter my 30's (eek, its coming up faster than I want!!) with none of these debts. The biggest mistakes I made was getting those 2 loans and using the College Network. They are a joke. Yet, even though I quit using their program, they would refund me. They are in active lawsuits with so many unsatisfied people. One thing I did learn with that experience is to never jump the gun again. I will always get my husbands input first. I should have done this with all of these things.

But, I have a plan.

The first thing I am going to do is pay off the HOA before they put a lein on our house. Lord knows thats the last thing I need!

I am also going to call about the College Network issue. I understand I will have to pay for this crap even though I do not use them anymore. But, before they report me off to the credit agencies, I need to pay for the month's payment I missed.

I will then pay off my Victoria's secret card, and lock it up. I should shred it or cut it into a million pieces, but I just haven't reached that stage in my baby steps program.

I'm then going to catch up on Finger Hut because they have HORRIBLE interest rates.

I will then pay off my Target card and put it away.

I'll follow that and pay of the Best Buy card.

Next I will pay off the Family Loan.

Hopefully soon after that, I will pay off the Security Finance Loan.

I will pay off pool next.

Then pay off our Texell Credit card.

Then, when all of that is done, I will sock money into our savings like there is no tomorrow.

The grand total of my debt as of December 2013: - $145,852

Broken down, it looks like this…
Mortgage: – $111,889
Car: - $19,067
Personal Crap: – $14,896

Scary stuff right?


At the end of every month I will keep you posted on my pay-off debt progress. Keep checking back for updates!