Six Figure Debt

I ran across this article in a Detroit Newspaperand it actually echoed some of my feelings regarding the current economic situation. 

“Many years ago — long before anyone started talking about a credit crisis — my mother stopped borrowing money, telling anyone who would listen that credit cards should be used “only in an emergency.”

I’ve long […]

It’s pretty obvious that we are going to take many years to get to the point where we are debt free.  We understand the road ahead and aren’t overly uptight about it. We see this journey as a series of steps toward a debt-free life.  My debt snowball estimates we will be debt free in […]

You will notice that all the debt bars on the right side of the blog have been updated.  I have put together a spread sheet of all our non-secured debt and you can see it in all its glory on the right side of the blog.   In the past I hadn’t included all the […]

Even though I am still not working, I’m unemployed for the first time in my life and can’t believe how difficult it has been to even get a call back on a resume’, I am continuing to service the sizable debt that we have built up over the last few years.  Click here to read […]

We aren’t desperate enough to burn the furniture, but we have so many unnecessary “things” laying around the house that we have accumulated over the years that it is time to get rid of the crap. I’ve already sold some of unnecessary furniture on Craig’s list. It was an item that we […]

I hate this, but I decided today that I will declare personal bankruptcy. My wife will not be involved, but I need to off-load debt or I will never be able to provide for my family in the future. The unsecured debt I will declare is both mine and my wife’s but I […]

I received my large tax return today and am proud to say that we paid off ONE of the credit cards today.  It was the card with the smallest balance, the balance was roughly $4,100.  I sent the payment today and the feeling of accomplishment is awesome.
In addition to the credit card pay off, I […]

My taxes were finished today and we were delighted to hear that we will get almost $15,000 back from the Federal government.  This doesn’t include the $1,800 we will receive as part of Bush’s economic stimulus package.
 We got the generous return because of the losses we suffered in the sale of two houses in 2007.  […]

I was reading a newspaper online the other day and came across an article explaining when and how I was going to receive my “economic stimulus” tax refund.  According to my social security number, my check will be mailed to me on May 9.  We should get $1800, $600 each for my wife and I […]

Our debt reduction plans took a small hit this week as we were hit with $300. in unexpected medical bills.  It isn’t anything we can’t handle but it put a serious crimp in our debt repayment this month.  Looks like the minimum payments for at least one of the three credit cards.  We will still […]