byedebtbye
New Member
Joined: Sept 23, 2018 13:27:31 GMT -5
Posts: 34
|
Post by byedebtbye on Jun 30, 2019 2:46:21 GMT -5
UPDATE ByeDebtBye: 6/30/19 $27,108.04 (09/28/18, $33,407.11, WIRR180)
Down $514.20 from previous update.
|
|
jdnstl
Familiar Member
Joined: Dec 21, 2010 10:21:56 GMT -5
Posts: 949
|
Post by jdnstl on Jun 30, 2019 9:18:38 GMT -5
UPDATE
Apr 1 19 Jul 1 19
CC1 – 0.00 0.00
CC2 – Closed
CC3 – 0.00 0.00
CC4 – Closed
CC5 – 3,350.00 3,000.00
CC6 – 0.00 0.00
CC7 – 0.00 0.00
CC8 - 0.00 0.00
Auto1 – 0.00 0.00
Auto2 – 0.00 0.00
TOTAL - 3,350.00 3,000.00 Difference of -$350.00
EF/Savings – $649.36 $650.35 Difference of -$97.13
jdnstl: 7/1/19 $3,000.00 (1/9/08 $42,966.26 S34)
Total ptd - $39,966.26
Percent ptd – 93.0%
Finally slowed down somewhat to get checked in here and do an update.
|
|
jdnstl
Familiar Member
Joined: Dec 21, 2010 10:21:56 GMT -5
Posts: 949
|
Post by jdnstl on Jun 30, 2019 11:48:12 GMT -5
SMILEYS are updated!!
It took me over 2 hours to get this update done so I don't have shoutouts this round! Hopefully I can get them done sometime this week.
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,043
|
Post by Rukh O'Rorke on Jun 30, 2019 14:45:09 GMT -5
I don't know about credit reports, but the amount you owe the IRS isn't public unless a lien is filed against you. Generally, as long as you keep paying on it, that won't happen. You will know before it happens. Please respond to any IRS correspondence so that doesn't happen to you. I can't remember if you have applying for an installment agreement with the IRS or not. ooo - good info thanks! Got a letter from bank about refi/cashout my current mortgage, and would love to take advantage of that. I don't have an agreement with the IRS as yet, but have sent in a payment and have another on they way. Will call them this week to get an agree-upon payment plan in place.
|
|
TheOtherMe
Distinguished Associate
Joined: Dec 24, 2010 14:40:52 GMT -5
Posts: 27,184
Mini-Profile Name Color: e619e6
|
Post by TheOtherMe on Jun 30, 2019 15:35:06 GMT -5
It doesn't sound like you will let this go to Collections, but I think they have to contact you 5 times before a lien can be filed.
|
|
Maryland Monroe
Established Member
Joined: Dec 23, 2010 16:52:51 GMT -5
Posts: 459
|
Post by Maryland Monroe on Jul 1, 2019 5:32:28 GMT -5
Update: Maryland_Monroe[2] 7/1/19 $19,382.56 (1/1/14 $93,528.61 NE113 C127)
Paid: $74,146.05 79.28%
|
|
paynointerest
Established Member
Joined: Dec 21, 2010 1:35:20 GMT -5
Posts: 440
|
Post by paynointerest on Jul 1, 2019 6:28:04 GMT -5
July 1, 2019Update! Pay-no-Interest $9,300 (New debt total: 08/2018 $388,835; starting debt 05/2007: 369,884) Made my regular mortgage payment and paid a couple hundred dollars toward the principle to get it below the 10K mark, I finally made it to "4" figures. This summer seems to be flying by!
|
|
muffyinthered
Established Member
Joined: Dec 22, 2010 8:19:13 GMT -5
Posts: 310
|
Post by muffyinthered on Jul 1, 2019 8:31:29 GMT -5
Just scheduled our new mortgage payment. Doesn't look good having 2 mortgage payments. We lowered the price of our NC house by $9,000 and have had lots of showings since that but no offers. I don't know what is wrong with our house that nobody seems to want it. It is 14 years old and everybody seems to want a new build, but they don't realize that this house already has a deck on it and a brick patio and all that costs more money. I am just venting and I thank you for being here because my husband is just as frustrated as me.
Will look for a renter this week. The movers come next Monday to pack up and then Tuesday load and we are out of here. Have a good week racers!
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,582
|
Post by nidena on Jul 1, 2019 9:57:08 GMT -5
Just scheduled our new mortgage payment. Doesn't look good having 2 mortgage payments. We lowered the price of our NC house by $9,000 and have had lots of showings since that but no offers. I don't know what is wrong with our house that nobody seems to want it. It is 14 years old and everybody seems to want a new build, but they don't realize that this house already has a deck on it and a brick patio and all that costs more money. I am just venting and I thank you for being here because my husband is just as frustrated as me. Will look for a renter this week. The movers come next Monday to pack up and then Tuesday load and we are out of here. Have a good week racers! Somebody will want it. Heck! I bought a house that Harriet Tubman walked passed. Someone will buy yours.
|
|
shanendoah
Senior Associate
Joined: Dec 18, 2010 19:44:48 GMT -5
Posts: 10,096
Mini-Profile Name Color: 0c3563
|
Post by shanendoah on Jul 1, 2019 11:20:24 GMT -5
shanendoah: 7/1/2019, $1,758.65 (5/4/2017, $43,691.23, WIRR151, WIRR160, WIRR164)
Line of Credit | Current Balance | Previous Balance | Starting Balance | Limit | APR | Total Paid | Percentage Paid | All other Cards | $0 | | $38,908.19 | | | | | Citi Diamond 2 | $1,758.65 | $2,282.88 | $4,783.04 | $9,600 | 0% until 04/19 (Purchases) 0% until 01/20 (Bal Trans) | $3,024.39 | 63% | Total | $1,758.65 | $2,282.88 | $43,691.23 |
|
| $41,932.58 | 96% |
Only 4 more months of payments left on this debt! There's enough in savings to wipe it out, but it's at 0% APR, so I really just need to let it ride.
I ended up applying for an 18 months 0% APR card. That is what all the new tuition expenses will go on. It looks like we'll be spending around $12k over the course of 17 months. The limit on the card won't be big enough to hold all $12k at once, but the goal will be to pay as we go, as much as possible. It's part of the savings goals, and we already have enough saved for the first 3 months (but those are the least expensive months). So I'm still figuring out if it will be raced, or if I'll manage to cover it all via savings. I am happy that this race should be completely paid off before I need to start the next race, if that's what I need to do.
|
|
nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,447
Mini-Profile Background: {"image":"","color":"4ee2dd"}
|
Post by nikiz628 on Jul 2, 2019 11:28:04 GMT -5
UPDATE: Race #2 7/2/19
RACE #2 | INTEREST | ORIGINAL | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loans (2 cars) | 4.23% | $32,991.93 | $17,722.11 | $17,375.91 | $346.20 |
NikiZ628 (2): 7/2/19 $17,375.91 (3/26/18 $32,991.93) Total Paid in 2019: $2,153.19 Total Paid Overall: $15,616.02
Trucking right along. Hopefully H can sell his old truck ASAP and we can remove it off this combined loan. The goal is to have this race under $16,000 by the end of the year -- only $1375.92 to go. The truck balance is approximately $4000 of this loan, so selling it will make a big dent in the balance!
|
|
nooccar
Junior Member
Joined: Jan 6, 2011 1:54:02 GMT -5
Posts: 165
|
Post by nooccar on Jul 2, 2019 15:53:00 GMT -5
Update: nooccar (2): 7/2/2019 $44,778.04 (11/4/2010 $73,475.09 WU197)
I hope everyone has a fabulous Independence Day!
|
|
regina24601
Well-Known Member
Joined: Dec 20, 2010 18:23:29 GMT -5
Posts: 1,251
|
Post by regina24601 on Jul 2, 2019 17:15:49 GMT -5
Since they have different due dates, one will always be up with added interest by the time the other gets a payment, so I will update twice a month as they see-saw up and down and see how that goes, maybe get into once a month when I get a better handle on it all. Loans | 6/15/2019 | 6/1/2019 Difference | Fed | $110,027.95
| $110,396.31 $368.36
| Private | $8,253.95
| $8,229.97 $(23.98)
|
Total $118,281.90 $118,626.28 $344.38 UPDATE
Rukh O'Rorke 6/15/2019 $118,281.90 (6/01/2019 $118,626.28)Not much of an update! I know!!! This is going to be a long slough...that is for sure! It's important that I keep tabs on this and feel at least a little success at these initial babysteps. And - I may need to rethink how I am approaching this payoff vs saving for retirement. Some of these interest rates are on the border of better to invest vs better to payoff, but some are low enough that it may make sense to pay off slower and up retirement savings. Life is hard! lol debt | previous balance | new balance | difference | Fed SL | $110,396.31 | $109,559.76
| $836.55
| Private SL | $8,229.97 | $8,177.85 | $52.12
| Owe IRS | unknown | $6,384.25 | 0 |
Pers loan $1,880.00 $1,920.00 $40 total $126,041.86
ok - depressing update!!!
Not that I didn't know it was coming, got the new numbers on what I owe the IRS and also adding a personal loan here to keep track of that. I've made a big payment on the IRS but it didn't show in their statement, but I don't want to put that payment up here until it is cleared, new interest included etc. I've been keeping this all in different buckets in my head, but want to pool them and work on it all together.
It was about a $100 penalty on the IRS and $75 interest. Not too terrible! but of course, another stupid tax for me.
Just as a foreshadowing....I may increase the personal loan to try to 0 out the IRS debt as quickly as I can, or take on some CC debt as I juggle this. One thing I need to do is to restructure debt and do some home maintenance that is *once again* on the back burner due to unexpectedly owning the IRS so much. I want to look into home equity or cash out refi on the mortgage, and I think that owing money to the IRS is a huge red flag in that process, so I want to get rid of that as quickly as I can.
Personal loan is on the down low, a real personal loan and off the books, and I'm paying $20 interest/month per verbal agreement.
so - my pay off order of operations are:
1) IRS (may increase personal loan and/or result in carrying short term CC debt) 2) Any CC debt accrued
3) personal loan 4) private student loan Then I will break down the federal student loans by interest rate, and start with highest interest rate and try to knock those out one by one.... I've certainly dug myself a pretty hole here! You might try calling the IRS and ask for them to waive the late filing/late payment penalty. Request a "first time abatement," and if you've filed and paid in time historically they usually grant it to you. I do it regularly for clients. They won't waive interest but they have some latitude with penalties.
|
|
TheOtherMe
Distinguished Associate
Joined: Dec 24, 2010 14:40:52 GMT -5
Posts: 27,184
Mini-Profile Name Color: e619e6
|
Post by TheOtherMe on Jul 2, 2019 17:31:06 GMT -5
Interest is statutory and isn't supposed to be waived. I never saw it happen in all the years (25), I worked at the IRS.
I think from what Rukh said earlier, she had not filed the prior year return. I think that means she most likely won't receive the 1st time abatement.
Correct me if I am wrong Rukh
|
|
paynointerest
Established Member
Joined: Dec 21, 2010 1:35:20 GMT -5
Posts: 440
|
Post by paynointerest on Jul 3, 2019 6:34:49 GMT -5
I will have money left over this month and decided to apply $300 of it to the mortgage. July 3, 2019
Update! Pay-no-Interest
$9,000 (New debt total: 08/2018 $388,835; starting debt 05/2007: 369,884)
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,582
|
Post by nidena on Jul 3, 2019 10:45:38 GMT -5
All the paychecks that hit the checking account in June went to savings. The ones that hit this month will go towards paying down the CC. Well, 2/3 of them anyway. I expect six paychecks, from the three jobs, this month so the first four will go to the CC and the last two will go into savings. We might be getting time and a half tomorrow so that's pretty cool. Fingers crossed.
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,043
|
Post by Rukh O'Rorke on Jul 5, 2019 12:17:59 GMT -5
Interest is statutory and isn't supposed to be waived. I never saw it happen in all the years (25), I worked at the IRS. I think from what Rukh said earlier, she had not filed the prior year return. I think that means she most likely won't receive the 1st time abatement. Correct me if I am wrong Rukh I have never filed late owing money, but on 3 occasions over the past 25 years, I neglected to file my returns. In each case, IRS owed me several thousands. they did not pay me interest! But they sure tacked it on quick when I owed them lessons learned.
|
|
TheOtherMe
Distinguished Associate
Joined: Dec 24, 2010 14:40:52 GMT -5
Posts: 27,184
Mini-Profile Name Color: e619e6
|
Post by TheOtherMe on Jul 5, 2019 14:20:20 GMT -5
When filing a late tax return for a refund, the taxpayer must file a claim for credit or refund.
Sec. 6511(a) and Regs. Sec. 301.6511(a)-1(a) provide three years from the date of filing the tax return to claim a credit or refund, or two years from the date the tax was paid, whichever is later. For purposes of the limitation, a return filed or tax paid before the last day prescribed for its filing or payment (without regard to extensions) is considered filed or paid on that last day (Sec. 6513(a)).
If no return is filed, Regs. Sec. 301.6511(a)-1(a)(2) provides the taxpayer must file the claim for credit or refund of an overpayment within two years from the time the tax was paid. For example, when a taxpayer has a temporary job and does not earn enough income to have a tax return filing requirement but has had income taxes withheld, if the taxpayer elects not to file a tax return for that year, he or she must file a claim for a refund within two years of the date the return would have been due.
What this says is that if you don't file within the specified time, a refund of taxes will not be issued.
Interest is paid to the taxpayer on an amended return.
So the moral of the story is to file your taxes on time, even if the IRS owes you. If you wait too long to file, you won't even get the refund of tax withholding or credits back.
Also, remember the IRS doesn't make the tax law. Congress does. The IRS is the agency that enforces the code.
|
|
sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
|
Post by sealy on Jul 5, 2019 19:11:32 GMT -5
Sealy Race #2
DEBT | CURRENT | PAST | STARTING | TOTAL PAID | %PAID
| ROSES | EMOTIONS | HOUSE | $253,950.00
| $256,999.99 | $335,199.00 | $81,249 | 24% | COMING SOON | EXCITED | | | | |
| | | |
sealy (2): 03/06/2021 $253,950.00 (12/04/12 $335,199.00) difference $81,249 Sealy Race #3
DEBT | CURRENT | PAST | STARTING | TOTAL PAID | % PAID | DISCOVER | $0 | $0
| $19,300 | $19,300.00 | 100% | CAR PAYMENT | $8,824.87 | $11,303.83 | $35,219.30 | $26,394.43 | 75% |
Best Buy | $0
| $0 | $627.00 | $627.00 | 100% |
sealy (3): 03/06/2021 $8,824.87 (4/30/17 $55,146.30) difference $46,321.43
I updated my race from page 153. My taglines are now up to date.
|
|
livinitup
Initiate Member
Joined: Sept 15, 2015 13:01:19 GMT -5
Posts: 96
|
Post by livinitup on Jul 7, 2019 12:52:19 GMT -5
UPDATElivinitup 1-July-2019 $43,119.07 (15/9/2015 $66,614.90, C62)
|
| 15-Sep-2015 | 31-May-2019 | 1-July 2019 |
|
|
| Debt
| Interest Rate
| Initial Debt Amount
| Old Debt Amount
| New Debt Amount
| Paid since last update
| Paid to date
| % paid
| Loan 1 | 0% | 1,800.00 | -
| - | - | 1800.00 | 100% | Charge Account
| 0% | 645.50 | - | - | - | 645.00 | 100% | Credit Card
| 0% | 4,196.86 | -
| - | -
| 4,196.86 | 100% | Mom Loan
| 0% | 9,500.00 | - | - | -
| 9,500.00 | 100% | HOA Arrears | 0% | 6,000.00 | - | - | - | 6,000.00
| 100% | House Arrears
| 0% | 2,200.00
| - | - | - | 2,200.00 | 100% | Reno Loan | 6.75% | 25,101.16 | 32,225.09 | 31,454.58 | 770.51 | (6,353.42) | -25% | Rental Arrears | 0% | 15,500.00 | 10,000.00 | 9,000.00 | 1,000.00 | 6,500.00 | 42% | MasterCard | 19.25 | 3,471.38 | 3,036.86 | 2,664.49 | 372.37 | 806.89 | 23% | | | 66,614.90 | 45,261.95 | 43,119.07 | 2,142.88 | $25,295.83
| 38%
|
|
|
paynointerest
Established Member
Joined: Dec 21, 2010 1:35:20 GMT -5
Posts: 440
|
Post by paynointerest on Jul 8, 2019 12:08:38 GMT -5
July 8, 2019Update! Pay-no-Interest I sold some stocks and decided to use some of the earnings to put a big chunk toward my mortgage. I have met my goal to pay $5K towards the principle of the mortgage this year. I'm on the home stretch!
$6,200 (New debt total: 08/2018 $388,835; starting debt 05/2007: 369,884)
|
|
ners
Junior Associate
Joined: Dec 23, 2010 16:21:18 GMT -5
Posts: 6,490
|
Post by ners on Jul 9, 2019 6:03:49 GMT -5
Update Race 2
9708.40 (4/21/18 12161.07 WIRR 172)
Not as much as I would like. Still on track to hit goal.
|
|
bankergurl
Well-Known Member
Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
|
Post by bankergurl on Jul 9, 2019 15:50:06 GMT -5
Update to Race #2 and #3! $913.76 paid off in the last 2 weeks!! Had a first (and probably only) lake weekend of the summer over the 4th. It was wonderful to spend time with my in-laws, get some time on the paddle board, jet skiing and swimming. Also my SIL is such a good cook so that's always a perk of going to visit!
We were about $230.00 away from going under the next $1000 mark so I threw $250.00 extra on Rental #1. I also checked our yearly goals, we weren't planning on paying any extra towards debt this year, just paying minimums and focusing on savings, but that's not really my style, so with just the little extra payments here and there we are already past our year end goal for Rental #1 by $135.07! Every little bit helps!
Savings is at $17,330.00, I finally got our rummage sale money in there and also took in a big canister of coins ($330!). I have about $500.00 in sales waiting for pickup, and probably close to 40hrs to turn in for working on my parents rental that will be a nice check too. We have a lot of big bills looming with medical and some planned rental updates, hoping to stay as close to $20K as possible.
Celebrations for this update: -$913.76 paid off in the last 2 weeks!! -Mom Loan #2 went under the next $1000 mark!! -Total Debt went under the next $1000 mark for the 3rd update in a row!!
Race #1 - Banker Gurl Mortgage (Rental #2)
6/21/19 $143,400.00 (9/17/07 $250,514.73) Paidoff - $107,114.73
Debt | Interest | Start 9/17/07 | Last 5/10/19 | Current 6/21/19 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $143,750.00 | $143,400.00 |
Race #2 - Bad Debt Race
7/5/19 $35,165.35 (6/19/15 $63,603.84) Paidoff - $28,438.49
Debt | Interest | Start 6/19/15 | Last 6/21/19 | Current 7/5/19 | Student Loan | N/A | $93.97 | $0 | $0 | Payback Savings | 0% | $500.00 | $0 | $0 | David's Bridal | 0% | $275.30 | $0 | $0 | Scheel's Card | 25.24% | $929.90 | $0 | $0 | Total Rewards | 17.99% | $3,955.66 | $0 | $0 | LOC - US Bank | 21.90% | $4,994.05 | $0 | $0 | Ring - Iddeal | 9.99% | $9,334.87 | $0 | $0 | Appliances - Best Buy | 0% | $2,960.09 | $0 | $0 | Store Loan
| 2.00%
| $14,560.82
| $2,536.16
| $2,416.91
| Mom Loan #2 (HELOC) | 2.00% | $0 | $7,292.95 | $6,748.44 | Mom Loan #3 (Truck - Added 9/1/18)
| 2.00%
|
$26,000.00
| $26,000.00
| $26,000.00
| Totals |
| $63,603.84 | $35,829.11 | $35,165.35
|
*Mom Loan Savings Account has $2160.00 in it so total still owed is $30,588.44.
Race #3 - MO's Mortgage (Rental #1)/HELOC
7/5/19 $79,043.84 (6/19/15 $119,756.61) Paidoff - $40,712.77
Debt | Interest | Start 6/19/15 | Last 6/21/19 | Current 7/5/19 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $79,293.84 | $79,043.84 | Totals |
| $119,756.61 | $79,293.84 | $79,043.84 |
Race #4 - Our Mortgage
6/21/19 $239,364.01 (9/2/15 $270,000.00) Paidoff - $30,635.99
Debt | Interest | Start 9/2/15 | Last 5/10/19 | Current 6/21/19 | Our Mortgage | 4.125% | $270,000.00 | $239,782.89 | $239,364.01 |
Yearly Progress
Date | Total Debt | 6/19/15
| $584,391.18
| 1/1/16 | $557,236.94 | 6/1/16 | $536,179.52 | 1/6/17
| $524,971.47
| 6/9/17
| $516,318.28
| 1/5/18
| $504,165.70
| 6/8/18
| $495,101.02
| 12/21/18
| $509,625.02
| 1/4/19
| $508.767.86
| 1/18/19
| $507,697.95
| 2/1/19
| $506,989.70
| 2/15/19
| $505,918.19
| 3/1/19
| $504,998.86
| 3/15/19
| $503,995.75
| 3/29/19
| $503,730.27
| 4/12/19
| $502,303.76
| 4/26/19
| $501,586.82
| 5/10/19
| $499,957.80
| 5/24/19 | $499,637.68 | 6/7/19
| $498,975.00
| 6/21/19
| $497,886.96
| 7/5/19
| $496,973.20
|
*Record for going under the next $1000 mark is 9 updates in a row.
|
|
nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,582
|
Post by nidena on Jul 9, 2019 21:22:53 GMT -5
Getting another roommate for the foreseeable future. They graduated from the same college as me, back in May and are working towards their Graduate degree. Completely unlike that debacle that occurred 18 months ago. It'll net me a few extra $$ every week--they get paid weekly--and I'll be helping them out since it's hard to rent in this town when you make only $10/hr.
Two paychecks in the next six days, both will go to the CC. It'll be that much closer to the next lower $1000 mark. I thought my spending was really great the last few weeks until I looked at my last statement. Jaysus, Mary, and Joseph! Took the card out of my wallet this evening. There is NOTHING I need that I can't pay for with cash or out of my checking account for the rest of the month.
|
|
sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
|
Post by sealy on Jul 9, 2019 23:48:25 GMT -5
I just paid $5K on my Discover bill! I was scared but I called my sister and she said "girl push that button!" I PUSHED the button!!! I'll be so happy when this bill is paid completely off. I will update my tagline once my account has updated.
|
|
chiver78
Administrator
Current Events Admin
Joined: Dec 20, 2010 13:04:45 GMT -5
Posts: 38,542
|
Post by chiver78 on Jul 10, 2019 9:50:54 GMT -5
looks like I haven't been in here since March. oops. stuff's been chaotic since then, but I think I'm finally back to stable. let me explain a bit for those that don't wander outside WIRR much.... back in May, the bank that held my checking/savings accounts screwed up and paid something on the wrong date. this created a huge mess where other stuff going out the same day bounced, was in limbo, and there were OD charges up the wazoo. it took about 6 weeks to finally be resolved, where I was basically bridging my limited cash flow across two sets of checking/savings accounts plus the debit checking that I am now (and will be moving forward) using for primary day-to-day spending. it was a mess, I added to some balances by living off CCs for the duration, and it all royally sucked. I am now all set with new accounts, old ones are closed and I'm working toward fully putting that bank in the rearview mirror - which will take a bit because I still have two CCs with them. it is what it is. I do intend to use them strategically for promotional rates as I pay down balances, if they keep sending me deals that make sense. from my last post: ^tax returns ended up being a $63(I think?) refund from Federal, and I owed MA around $10. so that was a wash, which is fine. the bonus payouts actually weren't until mid-June, I cleared about $2700 after taxes. I remember sending a big chunk to Citi, and I started myself on paying cash/debit for 99% of my spending. I do have some things I have to do online, where I won't use debit. I have also given myself a buffer in checking, so I don't have to worry as much when things run lower than ideal. other things to note - - I have finally gotten the roommate on a signed lease, and he hasn't missed weekly rent (option for flexibility, I'm fine with it) since I instituted it back in May.
- I have also planned out enough payments when I'm more flush to get me through the end of 2019 and have that ugly Citi card below $1k. if I find more $ along the way, that's where it's going first. I will be able to play around with interest rates once I have an empty shell again.
- I will be building my 2020 spreadsheet in the next couple weeks. this is the earliest BY FAR that I have planned out the following year. the attitude shift that came from the mess with my old bank is I think what I needed as a kick in the ass. I will continue making progress and keep checking in here. I am determined to get this gone.
creditor | original balance 13Feb19 | Jul2019 | PAID OFF! | Chase | $9635.08 | $8843.85 | $160.16 | Discover #1 | $13,119.16 | $12422.74 | $696.42 | AmEx Blue | $13,190.21 | $12464.72 | $725.49 | Discover #2 | $5541.15 | $14649.41 | ($9108.26) | 1st National | $23,516.06 | $22638.71 | $877.35 | BofA #1 | $19,380.84 | $17143.98 | $2236.86 | Citi #1 | $4740.74 | $4302.68 | $438.06 | SMCU | $9281.03 | $8768.48 | $512.55 | Citi #2 | $6523.17 | $4828.40
| $1694.77 | BofA #2 | 9286.50 | $8786.50 | $500 | BCU | $7575.04 | $9216.99 | ($1641.95) | total | $121,788.98 | $124066.46 | ($2277.48) |
chiver78: 3/12/19 $124,066.46 (2/13/19 $121,788.98)
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,043
|
Post by Rukh O'Rorke on Jul 10, 2019 15:23:33 GMT -5
looks like I haven't been in here since March. oops. stuff's been chaotic since then, but I think I'm finally back to stable. let me explain a bit for those that don't wander outside WIRR much.... back in May, the bank that held my checking/savings accounts screwed up and paid something on the wrong date. this created a huge mess where other stuff going out the same day bounced, was in limbo, and there were OD charges up the wazoo. it took about 6 weeks to finally be resolved, where I was basically bridging my limited cash flow across two sets of checking/savings accounts plus the debit checking that I am now (and will be moving forward) using for primary day-to-day spending. it was a mess, I added to some balances by living off CCs for the duration, and it all royally sucked. I am now all set with new accounts, old ones are closed and I'm working toward fully putting that bank in the rearview mirror - which will take a bit because I still have two CCs with them. it is what it is. I do intend to use them strategically for promotional rates as I pay down balances, if they keep sending me deals that make sense. from my last post: ^tax returns ended up being a $63(I think?) refund from Federal, and I owed MA around $10. so that was a wash, which is fine. the bonus payouts actually weren't until mid-June, I cleared about $2700 after taxes. I remember sending a big chunk to Citi, and I started myself on paying cash/debit for 99% of my spending. I do have some things I have to do online, where I won't use debit. I have also given myself a buffer in checking, so I don't have to worry as much when things run lower than ideal. other things to note - - I have finally gotten the roommate on a signed lease, and he hasn't missed weekly rent (option for flexibility, I'm fine with it) since I instituted it back in May.
- I have also planned out enough payments when I'm more flush to get me through the end of 2019 and have that ugly Citi card below $1k. if I find more $ along the way, that's where it's going first. I will be able to play around with interest rates once I have an empty shell again.
- I will be building my 2020 spreadsheet in the next couple weeks. this is the earliest BY FAR that I have planned out the following year. the attitude shift that came from the mess with my old bank is I think what I needed as a kick in the ass. I will continue making progress and keep checking in here. I am determined to get this gone.
creditor | original balance 13Feb19 | Jul2019 | PAID OFF! | Chase | $9635.08 | $8843.85 | $160.16 | Discover #1 | $13,119.16 | $12422.74 | $696.42 | AmEx Blue | $13,190.21 | $12464.72 | $725.49 | Discover #2 | $5541.15 | $14649.41 | ($9108.26) | 1st National | $23,516.06 | $22638.71 | $877.35 | BofA #1 | $19,380.84 | $17143.98 | $2236.86 | Citi #1 | $4740.74 | $4302.68 | $438.06 | SMCU | $9281.03 | $8768.48 | $512.55 | Citi #2 | $6523.17 | $4828.40
| $1694.77 | BofA #2 | 9286.50 | $8786.50 | $500 | BCU | $7575.04 | $9216.99 | ($1641.95) | total | $121,788.98 | $124066.46 | ($2277.48) |
chiver78: 3/12/19 $124,066.46 (2/13/19 $121,788.98)chiver, sorry you had the issues with the bank exacerbate this situation. I'm late to the party, and likely missing a lot of back story but I find this difficult to take in. These are all credit cards? What kind of interest rates are they at? If an average of 10% - that's 1k/month in interest. If 20%, 2k. I know some cards can be quite a bit higher, but I hope that isn't the case here. I see the roommate situation is somewhat under control now, will that stay on track? and is that enough of a difference to make a dent on this? I do hope so. How are you feeling about being able to make progress on this? Honestly - my first thought was have you considered declaring bankruptcy. If you are able to get a handle on regular payments and are able to chip away at the balance, are you also able to save for retirement while paying this off? I can't recall how old you are, or what salary you are at with the new job, but I was thinking your age/salary were kinda/sorta not too different from mine. I also have a similar amount of debt to pay, but mostly student loans. and then the IRS. Certainly nothing dischargeable for me! It seems like you have been moving things around, but what kind of monthly interest is this costing? What about retirement and other savings? I think you can get bankruptcy consultations for free, and then they only charge if you go through with it. Sorry if this seems intrusive, but just some things to think about. Hopefully having the roommate rent payments can make this all doable, but thought I'd put this out there in case a different perspective might be helpful.
|
|
chiver78
Administrator
Current Events Admin
Joined: Dec 20, 2010 13:04:45 GMT -5
Posts: 38,542
|
Post by chiver78 on Jul 10, 2019 15:40:21 GMT -5
looks like I haven't been in here since March. oops. stuff's been chaotic since then, but I think I'm finally back to stable. let me explain a bit for those that don't wander outside WIRR much.... back in May, the bank that held my checking/savings accounts screwed up and paid something on the wrong date. this created a huge mess where other stuff going out the same day bounced, was in limbo, and there were OD charges up the wazoo. it took about 6 weeks to finally be resolved, where I was basically bridging my limited cash flow across two sets of checking/savings accounts plus the debit checking that I am now (and will be moving forward) using for primary day-to-day spending. it was a mess, I added to some balances by living off CCs for the duration, and it all royally sucked. I am now all set with new accounts, old ones are closed and I'm working toward fully putting that bank in the rearview mirror - which will take a bit because I still have two CCs with them. it is what it is. I do intend to use them strategically for promotional rates as I pay down balances, if they keep sending me deals that make sense. from my last post: ^tax returns ended up being a $63(I think?) refund from Federal, and I owed MA around $10. so that was a wash, which is fine. the bonus payouts actually weren't until mid-June, I cleared about $2700 after taxes. I remember sending a big chunk to Citi, and I started myself on paying cash/debit for 99% of my spending. I do have some things I have to do online, where I won't use debit. I have also given myself a buffer in checking, so I don't have to worry as much when things run lower than ideal. other things to note - - I have finally gotten the roommate on a signed lease, and he hasn't missed weekly rent (option for flexibility, I'm fine with it) since I instituted it back in May.
- I have also planned out enough payments when I'm more flush to get me through the end of 2019 and have that ugly Citi card below $1k. if I find more $ along the way, that's where it's going first. I will be able to play around with interest rates once I have an empty shell again.
- I will be building my 2020 spreadsheet in the next couple weeks. this is the earliest BY FAR that I have planned out the following year. the attitude shift that came from the mess with my old bank is I think what I needed as a kick in the ass. I will continue making progress and keep checking in here. I am determined to get this gone.
creditor | original balance 13Feb19 | Jul2019 | PAID OFF! | Chase | $9635.08 | $8843.85 | $160.16 | Discover #1 | $13,119.16 | $12422.74 | $696.42 | AmEx Blue | $13,190.21 | $12464.72 | $725.49 | Discover #2 | $5541.15 | $14649.41 | ($9108.26) | 1st National | $23,516.06 | $22638.71 | $877.35 | BofA #1 | $19,380.84 | $17143.98 | $2236.86 | Citi #1 | $4740.74 | $4302.68 | $438.06 | SMCU | $9281.03 | $8768.48 | $512.55 | Citi #2 | $6523.17 | $4828.40
| $1694.77 | BofA #2 | 9286.50 | $8786.50 | $500 | BCU | $7575.04 | $9216.99 | ($1641.95) | total | $121,788.98 | $124066.46 | ($2277.48) |
chiver78: 3/12/19 $124,066.46 (2/13/19 $121,788.98)chiver, sorry you had the issues with the bank exacerbate this situation. I'm late to the party, and likely missing a lot of back story but I find this difficult to take in. These are all credit cards? What kind of interest rates are they at? If an average of 10% - that's 1k/month in interest. If 20%, 2k. I know some cards can be quite a bit higher, but I hope that isn't the case here. I see the roommate situation is somewhat under control now, will that stay on track? and is that enough of a difference to make a dent on this? I do hope so. How are you feeling about being able to make progress on this? Honestly - my first thought was have you considered declaring bankruptcy. If you are able to get a handle on regular payments and are able to chip away at the balance, are you also able to save for retirement while paying this off? I can't recall how old you are, or what salary you are at with the new job, but I was thinking your age/salary were kinda/sorta not too different from mine. I also have a similar amount of debt to pay, but mostly student loans. and then the IRS. Certainly nothing dischargeable for me! It seems like you have been moving things around, but what kind of monthly interest is this costing? What about retirement and other savings? I think you can get bankruptcy consultations for free, and then they only charge if you go through with it. Sorry if this seems intrusive, but just some things to think about. Hopefully having the roommate rent payments can make this all doable, but thought I'd put this out there in case a different perspective might be helpful. you are entirely fine. take all of this with the grain of salt of knowing my base salary is $120k, with various bonuses and incentives available. what is listed here is all CCs. there is a car loan (1.87%) that is ~$5500 that will be gone this time next year. the rest are cards that have always been in very good standing, and which continue to send me BT offers even at this high level of debt. I am confident that as I knock out the smaller balances, that I will be able to play the shell game to consolidate and knock out the larger balances. the worst non-promotional rate after the "ugly Citi card" is 16% (?) would have to check for sure. anyway, I know it is a very ugly set of numbers, but with my salary and the fact that I haven't been the Bank of Chiver for a long time now, I am confident I will dig myself out of this. the post I made where I reset my starting number, I was adamant that I wasn't filing bankruptcy. this number isn't a result of an unexpected major crisis, it was a series of piss-poor decisions, and with my income I would never be able to live with myself if I took the easy way out. *I am well aware of the implications of a bankruptcy, and it is not an easy path, but with my salary that's exactly what it would be. if I may ask a favor? can you help keep me accountable here? if I don't check in, tag me. I need to put an electric bill I forgot about onto a card tomorrow, bc this week is a cyclical low that can't cover it. but that, and my weekly dog walker (online booking) are all that's going on a card any time soon. everything else is cash/debit. my spending is completely reined in, I just need to counter the damage that's already done.
|
|
chiver78
Administrator
Current Events Admin
Joined: Dec 20, 2010 13:04:45 GMT -5
Posts: 38,542
|
Post by chiver78 on Jul 10, 2019 15:48:52 GMT -5
wait, more commentary as I read closer on post. roommate is steady, and the day he's not, he's on notice. that's all written into the lease, to protect me. as he withdrew a bunch before we had a good blowout discussion ending in hugs b/c we were friends at some point, I've figured out that I can handle the dogs 200% on my own. so if I need to toss him, I'll be okay. I have been moving things around, but I've also historically still been adding to it at the same time. I'm no longer doing that, I carry one card that's still got a balance on it as an emergency in case my Discover debit card isn't accepted - I carry a wallet case on my phone now, very minimal. I book my dog walker weekly on a Discover CC, and I pay off what I'm booking in addition to whatever I would have paid that card anyway. as far as general progress, this week is the low balance point for my checking account for the remainder of the year. after that, I have already input payments "to be set up" for the first card through the end of the year. HTH
|
|
Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,043
|
Post by Rukh O'Rorke on Jul 10, 2019 17:09:41 GMT -5
Sounds good chiver! I will try to keep you accountable, and I hope I stay in this too. I need to focus on the debt, but also balance with retirement, emergency saving, and catching up on home maintenance. It seems like there just isn't enough money to do all of that, but none of it is negotiable, and not sure where that lands me. I'm thinking if I can get the two highest interest student loans paid off, everything will be down hill from there....but that's about 30k till I get there....so who knows where I'll be by the time I get those paid off. Just checked into these for balance and interest rate, and got a little gift! My 4 parent plus loan interest rates all went down by .25% - probably due to signing up for autopay. Yay! My one private loan, which is variable - went down by .13% - but hey, I'll take it! All told, about $14/month more going into principle .
|
|