get rid of my debt

One down but not as quickly as I had hoped, need to do more.

Hahaha! I didn’t have anything on my plate during work so I was able to plan all of my projected payments to my loan and credit card including plans for overhauling my car. It was very very hard to plan when you don’t have enough financially so I’m very thankful that I got a salary increase just this month thus I can now pay and overhaul my car without sacrificing my financial responsibility. Obviously I cannot just pay them all right away but I’m already excited on getting out-of-debt on the next few months!

I just recently got an 80% appraisal of my previous salary. The problem is I’m not even thinking about paying my debt now just because I can already pay it on a month’s salary. It’s just pretty hilarious that it didn’t even think about paying my debt when I bought a lot for my car’s accessories. Anyway, I am giving myself a deadline to be fully out-of-debt in 3 months including my car loan.

Another one, fuck sake.

it’s a love-hate relationship for me and my credit cards. I love it when I get to pay them on time and get really nice perks like gift certificates and even cash backs. I hate them when something’s wrong and I miscalculate or pay less or miss a payment and having to pay interest. i really hate them when they miscalculate something like crediting my waived annual fee or even not agreeing to wave my annual fees. Anyways, i’ve been a good girl lately and i feel it paying off. it really pays off to keep track of debt because at the end of the month, i’m not surprised seeing my statements and not baffled as to where my money went.

AAAAHHHHHHH! Bastards! I’ve just totaled up how much I have been charged in bank charges over the past year for being over drawn and the like. At £35 a pop, £280. Fuck sake, the things I could have done with £280. Plus another £50 from late payments on my loan. And for what, so that a computer somewhere can send me an email saying “you do not have sufficient funds”. I know I don’t have sufficient funds, but I don’t know why it costs me £35 to hear it from you??? CUNTS! Little bit angry, need to sort this out.

My primary goal is to pay off the remainder of my credit card debt that I incurred while self-employed. While I kept spending to a minimum, I did rack up the balance from zero to over a couple grand in just under a year. Coupled with the remainder of my car payments, I believe that I can pay off my total balances by the end of September 2009. Let’s see if I meet my goal!

Ok something weird happened to my credit card. i wasn’t charged my 4th monthly installment this month. i don’t know why and the CSR didn’t know why. All he knows is that I’m going to get billed next month. OK. I seriously think they want me to fail at managing my money and bill me for another freakin’ high interest when they charge me for 2 months next month. they did this to me last feb! i hate it! But i’m going to be a good girl and pay them now because I know exactly how much I owe them and they’re not going to get another peso for interest from me.

Three months ago, Feb 13 to be exact, I had 84K of debt. That not only shocked me but really motivated me really start thinking of the future. I can’t be like this forever. What if I got laid off? I don’t want to have that debt in my name for the rest of my life. And I certainly don’t want to have 0.00 balance on my savings.

As of today, I have paid off 40% of my debt. Wohoo! I now owe 50K. That’s still a lot, but I’m counting each month that I am able to pay all of it off little by little.

My plan is basically to finish everything this year but I don’t know if I can do that. Let’s see!

I just learned a really surprising lesson today which most people probably already know – credit card companies are not your friends.

I just received a second card today from a certain credit card company. i didn’t apply for that second card but it had a higher credit limit and an even higher annual fee. But the ‘good news’ as from my credit card company is that the annual fee would be discounted and it would even be the same as my old card. So I called my credit card company to confirm and to ask if this promo of a discounted annual fee is just for the first year and a surprising news came in. it was no surprise when she told me that this discounted annual fee is only good for just the first year and that i will be paying 2 annual fees. and since i am not really using the card and just maintaining this because of my loan last year, i aske her to cancel my existing card so i would only pay for an annual fee on my 2nd card.

the surprise i got was that i will be billed an annual fee for this card on August which is just 3 months from now when i received that card. i said that was unfair. i will have only had my new card for 3 months AND i don’t even have plans to activate it. the rep says it’s because my card is treated like an upgrade and that i will be billed on august along with my old card’s annual fee (which i decided to cancel). how can it be an upgrade if i had the option to keem my old card? that means i’ll pay for both card’s annual fee on august.

so i asked her if i could just have both cards cut and just maintain my loan which even has a different account number. she said no it’s not possible and i have to maintain one card. i asked her how much is my loan’s current balance and it’s still about half today.

i told her you know what, i will just have to transfer this balance to my other card from another credit card company because i don’t want to pay the annual fee for a card i have not yet used for a year. it’s like i’m going to pay it 9 months in advance.
f@ck ‘em. i was mad but not at the rep because she was kind and i was thankful she gave all those information to me. she even called me up after a few minutes to say i needed to settle P400.00 for the replacement card i ordered a month ago.

so since i cancelled my previous card, before july i will call them again and have my balance transfered to my other credit card so i can close it. if they offer to waive my annual fee, i’ll keep my card and after 1 year, i’ll request for a card with a lower annual fee. if they don’t, i’ll have to either pay the remaining balance of my loan or transfer it and then cancel it.