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Maybe not a milestone to some people...but was almost $16k in credit card debt...Finally got it down to an even $10K........That's the only debt I am carrying right now aside from house note and car payment in which the car will be paid off(knock on wood) in Oct 2011. Iknow it's not much...but feeliing a little better about things... I am 39yrs old..and this little last economic fiasco has opened my eyes......gotta be more fiscally responsible with the finances.
I would suggest that you take some evidence on paper of what you have done, and show it to the finance manager at your bank. Express to him your exuberance that you have worked so hard to bring your finances into order. I bet he would be happy to loan you enough money to pay off the $10K, at about half the interest, or less, than you are paying the CC company. He'll also probably refinance your car. It looks like you have quite a bit of equity in your car, for collateral. You have nothing to lose by asking, and several thousand dollars to gain.
You think you feel good now, just wait until you go into that bank in a few years and by a $10K CD.
Maybe not a milestone to some people...but was almost $16k in credit card debt...Finally got it down to an even $10K........That's the only debt I am carrying right now aside from house note and car payment in which the car will be paid off(knock on wood) in Oct 2011. Iknow it's not much...but feeliing a little better about things... I am 39yrs old..and this little last economic fiasco has opened my eyes......gotta be more fiscally responsible with the finances.
Excellent. Keep the momentum going. You're doing the right thing, both for yourself and the overall economy.
This is great news for you. Once you can get the number going down, eventually, you can wipe it out. Then, you may be able to put some money aside for a rainy day. Its a lifelong process and you are well on the way. I have counseled people on debt for a long time and there is no way to eliminate debt other than by reducing spending. There is no amount of money that a person can make that is enough. And the uses are always good things that you or your family needs. You just have to do what you are doing and it will all work out for you.
CONGRATULATIONS!! That's major progress - keep it up, and be proud of yourself!!!
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