A milestone, of sorts

[valis2]

I just wrote out the penultimate check for one of my credit cards.

For those of you who are new to my flist, let me fill you in. I've been struggling for years with huge credit card debt, most incurred during the genesis of my teeny business. Well, that was a mistake, to say the least, and I've paid for it and paid for it and paid for it over the years. I have six credit cards, most with very high interest rates. (I can't open new ones; I've been denied the few times I've tried. I can't transfer balances because I have very little open credit. I can't call and finagle lower interest rates because three of them are closed, and the three open ones don't have bad rates.)

So I'm very excited to get the first paid off. And the next one is quite accessible as well; the balance is low, the interest high, and I hope to have it paid off by the end of the year.

No high-fives, though. I still am charging too much and I really need to get it under control. I'm just feeling excited. And yeah, I'll probably have to pay another teensy bill next month from them, but it's pretty much done. It was one of the large ones and this is so gratifying.

Comments

[idleleaves.livejournal.com]

Fabulous! I'm snowed under with student-loan debt from my university degree, so I can relate. The high interest rates just infuriate me, because so much of my monthly payments are basically useless against the principle debt because of said rates.

[valis2.livejournal.com]

You totally understand my pain! It sucks so much to see so much money drained away just to pay the interest. Grr.

They've recently passed legislation in the States, though, and it means that the minimum balance is higher and that some goes to the principle, which is nice. It's how I've managed to get some of them reduced at least a little. I am excited by how close I am on a couple of the others. *crosses fingers*

[rufus.livejournal.com]

ooooh that is SUCH a good feeling. congratulations!!!

[valis2.livejournal.com]

It's really such a relief. It was the bastard card, the one I hated more than all of them put together, just because the company isn't the nicest. I'll be SO glad to put them behind me.

(Example: once I accidentally misplaced the bill, and forgot to pay. Instead of sending me a late payment notice, they sent me...a frightening collections letter that was absolutely unnecessary. I mean, seriously. Who sends that nonsense to someone who has paid on time for six years?)

[valis2.livejournal.com]

Thanks! I really hope that I can get more paid off this year. That will make me unbelievably happy. ;)

[just-ann-now.livejournal.com]

That's such a satisfying feeling. Good on you!

[valis2.livejournal.com]

It really is! I'm having a bit of extra chocolate to celebrate. *grins*

[todayiamadaisy]

No high-fives, though.

Maybe a low-five, then, as congratulations? It must be such a relief to get one out of the way like that, and another one on the way.

[valis2.livejournal.com]

It really is--especially because I hadn't realized how close I was on two others. It's quite attainable to get rid of at least one. Plus, my car is nearly paid off, which means I'll be able to put that toward the other cards. I'm excited, but then again, I know that I have a couple large things to charge very soon, and so it's relief tempered with exasperation that I'm still in this cycle.

[dbassassin.livejournal.com]

Congratulations!

I'm on the verge of paying off my second set of student loans, so can imagine how great you must feel getting some of the old financial monkey off your back.

[valis2.livejournal.com]

It really does feel great. I know that it's kind of a delusional great, because my problem is worse than ever, but seriously, just to get even one of them gone is awesome. :)

[greenpear.livejournal.com]

I paid off my balance and have had no charges in over a year. I'm woring on a strictly "money on had" basis. I've never had good luck with cards, especially anything fron Chase...

[valis2.livejournal.com]

That's wonderful! Congratulations on being so strong.

I've still got a loong way to go, but at least this is the first glimmer I've had in...oh...fifteen years, so I'm pretty excited.

[greenpear.livejournal.com]

The peice I paid was many years of super high interest rates which sucked the oney right out of my account. I'm not ready to get back on that horse again...

[iibnf.livejournal.com]

Ah, man, that's gonna feel good. It took me ages to get out of credit debt - I did it by switching to debit cards, but I've been debt free now for about 10 years. It's a good way to be.

[valis2.livejournal.com]

I just keep plugging at it. I switched my strategy just recently, and instead of paying a little extra on all of them, put all of the extra toward one, and that helped a little, as well as the new legislation that raised minimum payments so that part of the principle was being paid off as well as the interest.

It'll still be years, but at the very least I've made a step I haven't been able to make for nearly ten years, so that was an improvement.

[greenpear.livejournal.com]

A credit advisor said when you have multiple cards pay off the lowest balance first. Sounds silly but if you can get rid of one card you save a ton of interest. After that you attack the next lowest balance. And so on and so on...

[valis2.livejournal.com]

Yeah, I was kind of doing that for a very long time, but I just couldn't resist paying at least a little extra on the rest. It felt...wrong, somehow, to write out a check for the minimum amount. But I've gotten past that and now I'm writing the minimum amount for all except one, and I'm going to keep doing this until the next one falls, and then again...*crosses fingers*

[thedoingofit.livejournal.com]

Oh, that's so exciting! Well done you!

[valis2.livejournal.com]

Thanks! I feel such a nice feeling of accomplishment. Hooray! Now to work on the other five...

[gmonkey42.livejournal.com]

I know you said no high-fives but congratulations! That's great!

[valis2.livejournal.com]

Thank you, sweetie!! *strums mai wicked awesome imaginary guitar*

[hardboiledbaby]

Good girl. I've been where you are, and I'm not clear yet, so I know of which you speak. Keep up the good work! :)

[valis2.livejournal.com]

:) I'm still struggling to stay above water, but this is the first sign of a flotation device and I am filled with hope. *hugs*

[gmth.livejournal.com]

It's such an awesome feeling to pay one of them off, isn't it? When I finally got mind paid down, I took a screencap of the zero balance so I can squee over it whenever I want. :-D

[valis2.livejournal.com]

I have to temper it with sadness about the overall situation, but still, I'm glad that this one is gone! :) Hooray!

[drusillas-rain.livejournal.com]

I know you said no high-fives, but you should feel good about getting it paid off! I've just finished with 1 of 3 student loans, and it was such a relief.
<3333

[valis2.livejournal.com]

:) Thank you so much! It really is a relief, even though I still have a looooong way to go. *hugs*

[gypsyjolie.livejournal.com]

I certainly think congratulations are definitely in order! I too snowballed my self into big cc debt through college and I'm on the LAST CARD. I used to have eight past due credit card accounts and each one I paid off was a huge celebration and lot more self-esteem in my pocket. So WELL DONE. Keep fighting the good fight. It takes forever but try not to focus on that. And yes, sometimes I still charge things I should not.

[valis2.livejournal.com]

That is FANTASTIC, sweetie!! I'm so happy for you!! It's really awesome that you are making such progress.

I am dying to get the rest paid off! *hugs* I hope that this is the first sign of relief. ;)