nooccar
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Post by nooccar on Feb 14, 2021 15:40:59 GMT -5
Update nooccar (2): 2/14/2021 $19,226.10 (11/4/2010 $73,475.09 WU197)
I like that it's under 20k!
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nikiz628
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Post by nikiz628 on Feb 14, 2021 18:08:16 GMT -5
Great updates nikiz628 ! Is there any way you could either transfer the balance of the Capital One Quicksilver card, or renegotiate the interest rate? I tried to get a balance transfer and got denied. I haven't tried renegotiating the rate though... that's a good idea.
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debthaven
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Post by debthaven on Feb 14, 2021 18:14:59 GMT -5
nikiz628 I'd try that, but I'd also try to get another card for a BT. The worst-case scenario is you're in the same situation. But I find it odd that you have 2 cards at 0% and 2 cards at 20-something percent. I'm sure there's a happy medium to be found somewhere! Good luck!!!
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byedebtbye
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Post by byedebtbye on Feb 15, 2021 14:54:30 GMT -5
UPDATE ByeDebtBye: 02/15/21 $8,463.99 (09/28/18, $33,407.11, WIRR180)
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nikiz628
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Post by nikiz628 on Feb 16, 2021 13:53:22 GMT -5
nikiz628 I'd try that, but I'd also try to get another card for a BT. The worst-case scenario is you're in the same situation. But I find it odd that you have 2 cards at 0% and 2 cards at 20-something percent. I'm sure there's a happy medium to be found somewhere! Good luck!!! The Discover 0% is ending and will be going up. I am in a crap sitch at the moment in regards to APR but I am hoping we figure out a great solution soon.
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TheOtherMe
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Post by TheOtherMe on Feb 16, 2021 14:05:40 GMT -5
When I was in that situation, I talked to my credit union and they rolled the cards in to a loan at a much cheaper interest rate.
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ners
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Post by ners on Feb 17, 2021 19:10:15 GMT -5
Update Race 1
67015.39 (1/3/2011 $97,382.42 MPT5)
319.04 paid off this month
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nidena
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Post by nidena on Feb 18, 2021 8:13:16 GMT -5
With tomorrow's paycheck, I'm able to pay off the AmEx. I tried to pay more towards it to accommodate the pending transactions but USAA web BillPay doesn't allow that. I may still have another $100 to pay once they fully clear but that can be taken care of next week with the military paycheck. It looks like I'm also able to resume making payments towards the Visa since the AmEx payment was less than half of my paycheck.
I received the first Synchrony bill for my new gutters. Not racing that bill. It's 18 months same as cash so I've set up auto-pay until August 2022. I imagine I'll flex between "more" and "minimum" on those to get it paid off more quickly but so long as I pay that 1/18 amount, I won't have to worry about accrued interest in 18 months.
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Minnesotagirl7
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Post by Minnesotagirl7 on Feb 19, 2021 9:04:30 GMT -5
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Rukh O'Rorke
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Post by Rukh O'Rorke on Feb 19, 2021 13:24:02 GMT -5
nikiz628 I'd try that, but I'd also try to get another card for a BT. The worst-case scenario is you're in the same situation. But I find it odd that you have 2 cards at 0% and 2 cards at 20-something percent. I'm sure there's a happy medium to be found somewhere! Good luck!!! The Discover 0% is ending and will be going up. I am in a crap sitch at the moment in regards to APR but I am hoping we figure out a great solution soon. good luck on negotiating/finding another better avenue on this Nikiz!!
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steph08
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Post by steph08 on Feb 22, 2021 10:57:59 GMT -5
UPDATE: steph08 [2] 2/22/2021 $5,509.67 (11/15/2016 $57,941.58 NE139) Bill (Interest Rate) | Start | Previous | Current | Difference | Normal Payoff | Monthly Payment | Big Student Loan (5.08%) | 18,337.66 | 0.00 | 0.00 | - | November 2022 | $298.59 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | 0.00 | - | November 2022 | $81.81 | Truck (2.49%) | 18,995.89 | 3,264.07 | 2,855.67 | 408.40 | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | CC (0%) | 7,559.00 | 2,989.00 | 2,654.00 | 335.00 | | $76.00 | TOTAL | 57,941.58 | 6,253.07 | 5,509.67 | 743.40 | | $1,027.08 |
Paid this update: $743.40 Total Paid: $52,431.91 Percent Paid: 90.49% Still trying to decide what to do. 0% is up the middle of April. I have enough in savings to pay it off (I have enough to pay off both the truck and the CC, but I don't want to take that much out).
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debthaven
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Post by debthaven on Feb 22, 2021 18:27:00 GMT -5
You're doing great steph08 ! Could you get another 0% (or very low interest) BT for the CC? If yes, I'd probably do that. If not, I'd use savings to pay it off (and then reimburse the savings). I agree, I wouldn't prepay the truck. It's very low interest, and it's almost done. You're doing GREAT!!! You're SO CLOSE!!!
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steph08
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Post by steph08 on Feb 23, 2021 21:37:36 GMT -5
You're doing great steph08 ! Could you get another 0% (or very low interest) BT for the CC? If yes, I'd probably do that. If not, I'd use savings to pay it off (and then reimburse the savings). I agree, I wouldn't prepay the truck. It's very low interest, and it's almost done. You're doing GREAT!!! You're SO CLOSE!!! I can definitely find a BT offer, but most likely will have to pay a 3 or 4% fee to do so (then 0% interest for 12 or 15 months). I'll have to look around.
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muffyinthered
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Post by muffyinthered on Feb 24, 2021 9:35:14 GMT -5
MuffyintheRed#2 2/23/2021 $171,465.008 (06/22/2020 $175.394.16)
Amount paid off- $920.78
CU Savings - $25,620.47
We are back going in the right direction again! Very cold month in Wisconsin! Lots of things in our house have problems, tomorrow our pellet stove fan is being replaced, our car had a oil leak, and would cost $1639 to fix, so looking for a new car. On the bright side DH has gotten his second COVID shot and no side effects, I have gotten my first, no side effects. And we each got different brands of shots.
Stay warm and healthy while getting rid of the debt!
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nidena
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Post by nidena on Feb 24, 2021 11:49:55 GMT -5
UPDATE: steph08 [2] 2/22/2021 $5,509.67 (11/15/2016 $57,941.58 NE139) Bill (Interest Rate) | Start | Previous | Current | Difference | Normal Payoff | Monthly Payment | Big Student Loan (5.08%) | 18,337.66 | 0.00 | 0.00 | - | November 2022 | $298.59 | Small Student Loan (5.7%) | 4,585.95 | 0.00 | 0.00 | - | November 2022 | $81.81 | Truck (2.49%) | 18,995.89 | 3,264.07 | 2,855.67 | 408.40 | October 2021 | $416.19 | Van (3.6%) | 8,463.08 | 0.00 | 0.00 | - | October 2022 | $154.49 | CC (0%) | 7,559.00 | 2,989.00 | 2,654.00 | 335.00 | | $76.00 | TOTAL | 57,941.58 | 6,253.07 | 5,509.67 | 743.40 | | $1,027.08 |
Paid this update: $743.40 Total Paid: $52,431.91 Percent Paid: 90.49% Still trying to decide what to do. 0% is up the middle of April. I have enough in savings to pay it off (I have enough to pay off both the truck and the CC, but I don't want to take that much out). I would try to BT the CC and, if that is successful, pay off the truck. If it's not, pay off the CC before the rate changes.
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Minnesotagirl7
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Post by Minnesotagirl7 on Feb 26, 2021 11:43:18 GMT -5
Shoutouts!nikiz628 - Fantastic updates! nooccar - Congrats on dropping under $20k – that’s an awesome milestone! byedebtbye - Wow, great update! And under $10k!! ners - Another good update, keep it up! steph08- Nice progress! I’d say pay off the cc before it expires and race the truck as you have been. According to your table it’ll be paid off in a few months. muffyinthered - Awesome update! Smileys are updated! Smileys Link
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chiver78
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Post by chiver78 on Feb 26, 2021 12:15:03 GMT -5
quoting myself here, for numbers and my original plan for an April ESPP windfall. I got a BT offer in the mail today, and I'm trying to figure out if one more move makes sense. what I am thinking is to move the big Citi and the American Express, and and then use the ESPP payout for the small Citi and then the Discover #1 as the next highest interest rate at that point. BT fee would be about close to $600 (that's not today's AmEx balance...) but would lower the total of the interest rates by a lot. I still have a long way to go. the offer: on BoA #1, 4% BT fee, rate resets to existing 9.99% after promotion. 0% until March 2022 OR 1.99% until June 2022 re: ESPP. I looked into how the purchase/sale/payout details will go, and it is a bit different than what I remember from last time. I don't think I'm signing up for the next session. basically, I'll have shares deposited into my account and it will take a couple weeks to post (which means I'm taking an interest hit for April on those Citi cards ) and then I'll have to decide whether to sell or keep at that point. I remember being able to declare "Next Day Sale" and having all the tax info get rolled into my W2. so I made things more complicated for myself tax-wise, with a not that great ROI. great. creditor | start | 12/11 | interest rate | Citi #1 | $12,826.10 | $10,228.29 | 0.99/23.49, resets 4/21 | Citi #2 | $4,394.29 | $4,381.36 | 0.00/11.49, resets 4/21 | Discover #1 | $16,553.65 | $18,369.37 | 6.99/12.99, resets 1/22 | Discover #2 | $14,278.26 | $5756.59
| 4.99/10.99, resets 2/22 | 1st National | $24,168.63 | $20,061.62 | 5.99/life of balance | SMCU | $11,958.93 | $0 | 13.99 | American Express | $12520.02 | $2589.62 | 11.99 | Chase | $9586.41 | $0 | 16.49 | BofA #1 | $11,813.71 | $0 | 9.99 | BofA #2 | $7820.39 | $0 | 19.49 | BCU | $12,304.92 | $0 | 13.49 | total | $138,495.31 | $61,386.85 |
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chiver78 2/5/21 $61,386.85 (5/9/20 $138,495.31)
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debthaven
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Post by debthaven on Feb 26, 2021 18:18:52 GMT -5
Chiver if possible, I'd wait on the BT. That may not be possible.
From my (approximate) math, I think you could pay off
- Citi 1 - Citi 2 - Discover 2
You can pay off the Amex from your salary. In fact I remember you saying you would be returning a bunch of stuff.
At that point you'd be left with 2 big cards at 5.99% and 6.99%. Let the dust settle, and look at BT/interest rates towards the end of the year.
Don't forget to close one of those Citi cards (if not both).
That's what I would do.
Good luck, as always!
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chiver78
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Post by chiver78 on Feb 26, 2021 18:33:29 GMT -5
Chiver if possible, I'd wait on the BT. That may not be possible. From my (approximate) math, I think you could pay off - Citi 1 - Citi 2 - Discover 2 OR - Amex I may be off because I don't have exact numbers. But I also think it would be better to pay off more cards as well. Let the dust settle, and look at BT/interest rates then. windfall is ~10k, depending on stock sale price. so there no way it pays off what you've got listed here. I also didn't re-up on the ESPP for next period, so I have more cash flow in my paycheck come April 1st...which will go to paydown as it is as the "windfall" now. why would you wait? just trying to understand (and thank you for the response!)
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debthaven
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Post by debthaven on Feb 26, 2021 18:39:07 GMT -5
Ah I thought it was more, sorry. But then you're planning to use savings too, no?
I would wait because as you pay off debt/close down cards, you will get better offers/have more options.
Plus, psychologically, I think it helps have fewer cards/fewer balances.
ETA: I assumed you meant paying off the big Discover, you probably meant paying it down. Sorry, I didn't get that.
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chiver78
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Post by chiver78 on Feb 26, 2021 18:45:04 GMT -5
I'm not sure how much better I'm going to get than 0% for 14mo..? and, on a card with a $21k limit...which has the space to put a couple things together.. and yes, I'm still attacking paydown, which is why I didn't re-up on the ESPP. the ROI doesn't make sense with the interest rates I have rn. my pay-in was $7500, purchasing stock at a 10% discount. and then sale is whatever that days price is.
if I make the moves as described, I move 23.49% to 9.99 (after punting with another promo) and can use the extra in each paycheck to whittle away at the Discovers before they reset back to higher than 9.99. I have until April 9 to decide on this BT, so maybe I will know what the ESPP windfall actually is by then. that end date was supposedly 4/1.
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chiver78
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Post by chiver78 on Feb 26, 2021 18:47:22 GMT -5
nope, paying down. little Citi would go, and whatever else from the ESPP would go to the 1st Discover. it won't totally pay off.
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debthaven
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Post by debthaven on Feb 26, 2021 18:47:45 GMT -5
That does sound like a good plan Chiver.
But I also think it's a good boost to pay off smaller cards.
Ultimately, everyone's goal is to have fewer cards, and less debt, right?!
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nidena
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Post by nidena on Feb 28, 2021 9:00:09 GMT -5
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nidena
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Post by nidena on Feb 28, 2021 11:48:52 GMT -5
So, I was plugging my numbers into TurboTax to get a feel for what I may owe or receive and I had to laugh at the "Indiana Use Tax". Does anyone ever admit to buying something in a different state while they live in Indiana?
It appears, also, that I may not have changed my state to Indiana for my military pension. I'll need to look into that during the week. Whatever the situation, since this is my first year filing here, I think I'll invest the money into letting someone at H&R Block take care of them so that I'm not messing them up on TurboTax. It's not super crazy...it's saying I owe $36 for Federal and $404 for State but I want to be sure because it's also asking for my county of employment on Jan 1, 2020 and I wasn't working until March.
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nikiz628
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Post by nikiz628 on Feb 28, 2021 22:57:49 GMT -5
So, I was plugging my numbers into TurboTax to get a feel for what I may owe or receive and I had to laugh at the "Indiana Use Tax". Does anyone ever admit to buying something in a different state while they live in Indiana?It appears, also, that I may not have changed my state to Indiana for my military pension. I'll need to look into that during the week. Whatever the situation, since this is my first year filing here, I think I'll invest the money into letting someone at H&R Block take care of them so that I'm not messing them up on TurboTax. It's not super crazy...it's saying I owe $36 for Federal and $404 for State but I want to be sure because it's also asking for my county of employment on Jan 1, 2020 and I wasn't working until March. I cannot say that I have ever done anything with that "tax".
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chiver78
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Post by chiver78 on Mar 4, 2021 8:08:26 GMT -5
posting early, no more payments til my regular update anyway. I made the balance transfer, and the deck shuffled a little. I'm going to take a hit on interest when that first card resets next month, but just once. I'll be paying that off completely at some point in April when the ESPP windfall hits. after that, my highest interest rate is 6.99% for the rest of 2021. I am looking forward to making some serious progress in the coming months. oh - and can we get a for that huge 1st National balance dipping below $20k? woo! creditor | start | today | interest rate | Citi #2 | $4,394.29 | $4710.72 | 0/11.49, resets 4/21 | Discover #1 | $16,553.65 | $18,080.41 | 6.99/12.99, resets 1/22 | Discover #2 | $14,278.26 | $5,630.84 | 4.99/10.99, resets 2/22 | 1st National | $24,168.63 | $19,752.47
| 5.99/life of balance | BofA #1 | $11,813.71 | $14,560.00 | 0/9.99, resets 3/22 | SMCU | $11,958.93 | $0 | 13.99 | American Express | $12,520.02 | $0 | 11.99 | Chase | $9586.41 | $0 | 16.49 | Citi #1 | $12,826.10 | $0 | 21.99 | BofA #2 | $7820.39 | $0 | 19.49 | BCU | $12,304.92 | $0 | 13.49 | total | $138,495.31 | $62,734.44 |
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chiver78 3/4/21 $62,734.44 (5/9/20 $138,495.31)
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debthaven
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Post by debthaven on Mar 4, 2021 10:17:29 GMT -5
Great Chiver! But check the date at the top of the second column. :-)
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chiver78
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Post by chiver78 on Mar 4, 2021 10:31:32 GMT -5
ha. I should just make that say "today" because you can clearly see I edit that field often. 😏
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debthaven
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Post by debthaven on Mar 4, 2021 17:59:28 GMT -5
chiver78 , how about adding a column for "last month" too ? To help keep you accountable. Plus crossing off a few cards as you close them? You've been doing great, but you're up 1.3K from last month. And nobody needs 11 cards. How about at least closing the "doubles" of the ones not currently in use, ie Citi 1 and BofA 2? With your salary there will always be more offers if you need them. But I think the goal (medium term) is not to need them. You've got this!!! You know we are all rooting for you!!!
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