I went into the credit union today to put the signature loan in my name alone–pursuant to the divorce decree. While I was there I asked about options regarding both the interest rate on the loan as well as borrowing additional amounts to knock down one of the other two cards. I am so happy to report that they lowered my interest rate to 4% AND increased the loan amount to $20,000! I couldn’t believe it but then realized that I am better off standing on my own credit rating than combining with my former spouse! Just another validation about the whole marital mess!
I’ll complete the final paperwork later this week and then make a payment to Bank of America to bring that balance down. The BofA will continue to be my focus because A) the interest rate is the highest and B) say it with me…I hate Bank of America! I’ll update the numbers when all of the transfers and such are complete.
Happy Day! I’m feeling GREAT! What a total shot in the arm at the beginning of this new year!