Tuesday, June 23, 2009

DEBT VIPERS

I do not have nearly as much debt as many people. I had 4 credit cards. I paid off one early in the year, I am paying off another tomorrow.

The other two are going to be tougher to pay off. They are cut up and I am not using them any more but they are still like a viper with it's teeth sunk into my neck.

Why on earth did I ever touch a credit card???

I know better. I am smarter than this. Starting on the 20th of next month I am going to have a truck payment. That will make it harder to pay those off. But I feel like I am being strangled.

When I was married we had over 150,000 in debt. Not all unsecured but still debt all the same. I don't think a debt like a house payment is as burdening as unsecured debt but it is still a burden.

How did we even breathe with that kind of debt???

The payoff process is painful. The debt I will pay off tomorrow is 30% interest and the min payment is $176/month!

I will not do this any more. I will not have any more unsecured debt ever in my life! And I will budget and work to pay off my secured debt early. I would love to wake up one morning and stand on my front porch completly debt free....wonder how old I will be?

6 comments:

Faith said...

You'll be the same age as you would be WITH the debt still climbing all over your back and chewing on your head.

LOL

Great idea. When my DH left, all the Cards in his name left with him. YAY! Sadly, with my power saw accident last year and no insurance, or help from my DH, I am in debt. But that could not be helped.

I hate debt. I hate knowing someone owns you and/or your laborings. Used to be that the interest they charge now was called loan sharking. In the Bible, God instructed that no interest was to be charged. It became quite good business, however.

~Faith

ChristyACB said...

I'm also a rabid anti-non-secured debt person. However, like most people, I want to keep a good credit score so I have to keep a credit card and rotate the balance on it to keep it active. It is amazing that we have to keep a debt device that is mostly unused in order to keep a good credit score. Sort of like keeping a pocket full of candy to prove we aren't gluttons.

Good for you that you are taking aim at it and ditching it!

Heather said...

Faith I understand. Power saw accident????? Yikes!!! I hope you have all your parts!!!

Christy I am interested in seeing how paying off all my debt effects my credit score. Won't it be interesting if I pay off everything and then suddenly my credit score goes down?

Faith said...

Heather,

Yeah it took me a little by surprise myself.

When you feel an odd tug and see something fly across the yard, you have to wonder.... LOL

I have a post about it in my blog if you care to read it. Click on 'accident' on the side bar.

~Faith

SWEETHEARTS MOM said...

Faith! I keep posting under my daughters sign on. the Heather posts are mine. sorry

Faith said...

LOL

Ah~

~Faith