So Long Six Figure Debt!

I’ve been blogging for 5 months!  My total debt is now under $100,000!  Goodbye six figures, I won’t miss you! 

I will, however, miss my husband who is gone on a short underway this week.

Yesterday saw another record breaking day of views, totaling 198!  Hooray!

I sometimes get some goofy search engine terms but this one in particular gave me a good chuckle:

sallie mae told me i’m past go and they won’t help me what do i do

My first thought went to Monopoly.  Sallie Mae is a horrible banker if they won’t give you $200 for passing GO!  I wish I could say you could just stop playing the game since they’re cheaters, but the real world doesn’t work like that, sadly.

PROGRESS UPDATE

Original Debt (beginning mid December 2012): $102,645

Current Debt (5 months later): $99,488  

I reduced my debt by $839 since last month, with a total reduction of $3,157 in the last 5 months!  That’s 3.07% of my goal.

DEBT BREAKDOWN

Federal Student Loans $55,900 $56,543 (up $129 since last month, an overall $643 increase over 5 months)

Private Student Loans $40,625 $39,145 (down $304 since last month, an overall decrease of $1,480 in 5 months)

• StudentLoan#1: $7,160 $6696 (Somehow this loan has increased by $30 since last month.  I hate Sallie Mae.  Their math does not make sense.  According to their website I don’t have a minimum payment on this loan due until October and I pay more than the minimum every month.  WTF?  Overall, this loan is down by $464 in the past 5 months)
• StudentLoan#2: $11,200 $10,873 (down $108 since last month, $327 in 5 months)
• StudentLoan#3: $18,240 $17,673 (down $184 since last month, $567 in 5 months)
• StudentLoan#4: $4,025 $3903 (down $42 since last month, $122 in 5 months)

US Bank Credit Card $4,650 $2,828 (down $1,822 in 5 months, $580 since last month)

BOA Credit Card $1,470 $972 (down $84 since last month, $498 in 5 months)  Happy to get this one under $1,000!

I’ve paid $1,550 this month towards my debt ($600 to Sallie Mae).  My debt has only decreased by $839, so $711 (46%) went towards interest.

I’ve paid $5,584 towards my debt in the past 5 months and my overall debt has decreased by $3,157, so $2,427 (56.54%) went towards interest.  Ugh!  Over half of what I have paid has gone towards interest.  This is very discouraging.  I really need to crank up my income by either getting on SSI or finding a job!