Crushing Debt
Just over 2 years ago I was completely debt free. Now I find myself under the weight of an enormous debt. I know my debt is not as large as some peoples, in fact to some mine would seem very small.
Currently my debt is about $35G. What makes it so heavy is not the amount. What make it heavy for me is the urgency of the debt. Everything was due immediately. Fortunately I initiated contact with my creditors, so I had a little more room for negotiation. I had the option of filing bankruptcy, but opted to pay off the debt.
In 3 years or by December 31 of the third yearWithin 2 years, I should be completely debt free. Currently my monthly payout is about 3/4 my total income, by this time next year it should be 1/4.
Update: Wednesday, August 16, 2006, 5:27 PM
At the beginning of the summer I had 9 past due accounts now I have 7. One of the two have been completely paid off. I am going to do a spread sheet to track my payments month to month. I may post the results here.
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