reduce my debt

I used to have perfect credit (admittedly, it’s still pretty good), and I always paid all my bills on time, in full. I never left any charges on my card, but paid the full balance when due.
Ever since I quit my job to start my own business it has been downhill. I knew I’d get into some debt, but there’s no light at the end of the tunnel. I am throwing the towel in on this business, going to try & get a job, and see how quickly I can pay it all down. I do not like having credit card debt at all…it is just not me to be in that situation and I’ve worked so hard to have excellent credit…

call credit cards – negotiate new terms/payments
stay on budget

Okay, while today I did get a money order for a payment that will get rid of one debt, I need to write out what steps I need to get done.

1) List out all my creditors. This seems obvious, but there are a few I am sure I will over look if I don’t state this explicitly,

2) Address debts which are not legitimate. – I have one debt that I know is being held against me that is not legitimate. It will take time and effort to resolve, but I need to get it cleared up.

3) Get all balances for debts. There is at least one debt where I do not know my current balance. I need to send a letter to get my record of payments and current balance.

4) Add up all debt. This is just so I know what 1/5th of the debt is, which is my goal to have paid off for the year.

5) Determine what to address when. Some debts are more important than others. I need to list out and prioritize.

6) Get’em done! All this writing and planning is for naught if I do not pay the bills. Need to keep this front in center in my mind and try to stick to plan. I am sending out payments for January, but I need to make a plan to address all debts and which I can refer to for reinforcement and guidance.

I think at this point my goal should be to have 1-4 addressed by 1 February. Setting up a reminder for this one for one week.

I didn’t choose “Pay off my debt” for this one, as I am thinking of what I would like to see happen this year, and I do not think I could reasonably expect to have all of my debts paid off within that time frame. However, I would like to see myself having reduced my amount of debt by about a fifth by the end of the year. I think that would be a good start, and something that would be something I could see and feel as progress, and build on for the future.

I am gettting a huge tax refund back this year. I am going to take it and pay off my debt. I want out of debt. Once I get my credit card paid off I want to start tackling the interest on my student loans.

So today I made another payment on my crredit card. I am getting there but it is going to be hard getting everything paid off if my hours at work do not pick up again. I am money in my checking account but I don’t want to use it all on this credit card cause of my hours starting to be cut. I hope they will not go down any lower then what they are. This goal is going to be accomplished tho. I am so sick of not being able to pay my credit cards off and it is really starting to bring down my credit score. A year ago I was lucky that I was able to get approved for my car. That was a close call. I am tried of me fearing that I can’t get approved. I need to get this card paid off cause I need to get my card refinanced. I am paying very high interest rate and I need to get this lowerd.
Thankfully my car insurance came down and that should help with getting this card paid off.

I paid off my Sears Card! Wow. It makes me feel good. One credit card down and one to go! YIPPIE!!!!!!!!!!!!!!!!!!