<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > July Debt Update

July Debt Update

July 7th, 2011 at 03:08 pm

It's been a while since I've posted an entry. I'll give an update on our total debts.

Mort. 1 - $104,941 $738/mo. 6.25%
Mort. 2 - $70,000 0/mo. 0.00%
CC 1 - $8,666 $176/mo. 8.90%
CC 2 - $2,278 $57/mo. 16.99%
CC 3 - $3,309 $140/mo. 5.25%
CC 4 - Paid in Full
CC 5 - $2,822 $195/mo. 5.32%
Van Loan - $7,296 $210/mo. 4.02%

I feel as though we're making good progress on credit card #2 with the exorbitant 16.99% APR. My goal will be to have it completely paid off over the next 12 months, while making minimum payments on everything else.

Keep in mind that the $XX/mo. figure above is the minimum amount due for each account. So, CC 2 is $57/mo. minimum due, but in May, we paid $134, in June, $143 and this month $230.

Posted in Credit Cards, Debt, Personal Finance | 3 Comments »

3 Responses to “July Debt Update”

  1. creditcardfree Says:
    July 7th, 2011 at 03:11 pm 1310051513
    1310051513

    Great progress! Keep it up.

  2. Calgary Real Estate Says:
    July 7th, 2011 at 05:45 pm 1310060724
    1310060724

    How about adding cc balance onto one of the mortgages to get a better rate?

  3. Bob B. Says:
    July 7th, 2011 at 07:59 pm 1310068783
    1310068783

    Calgary Real Estate - Mortgage #1 is a house we have for sale. We no longer live there. And, there is probably zero equity in the house. It's worth approximately what we owe on it.

    Mortgage #2 is an inter-family loan for the house we currently live in. Thus the 0.0% rate and the $0.00 monthly payment. After house #1 sells, we will take out another loan from the bank to pay off mortgage #2.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]