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Hope’s Debt Update – July, 2018

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You can see my June debt update here. My business continues to grow, which I am very grateful for.

Creditor
Balance

(as of 10/14/17)
Interest
Min. Payment
Student Loans$34,4852.88%$0 (income based deferment)
Car$6,4907.00%$308 (pay $92 extra every month)
Credit Card$3,78217.00%$36
Collections 3 (Ex-husband)$4,7076.25%$246
Collections 2 (Apartment)$499$0
Self Lender$19410.57%$97
Total$50,157$687

While my plan was to finish paying off my Self Lender account and then the credit card, I got ahead of myself and put all my extra towards the credit card. This month I’m committed to getting rid of the Self Lender payment. That will free up $97 per month.

School Starts

Not much else going on. School starts Thursday. I’m adding $80 to my budget each for Princess to purchase lunch at school. Gymnast’ school provides free breakfast and lunch to all students so I don’t have to worry about him. I told Princess when she runs out of money, she will have to pack a lunch. I felt this was a good compromise. (New budget coming soon.)

I’m ready for school to start. These last couple of week’s have been hard to handle with balancing all the in and out for Princess volleyball and work commitments. Having a regular schedule will really help.

Trip to Virginia

We will drive up to Virginia in a couple of weeks to bring Sea Cadet home from his summer camp job. We will get to spend a day with History Buff while we are there. I’m really excited. (And sorry if this is not new news, I cannot remember if I wrote about this plan.)

Sea Cadet at Summer Camp

Sea Cadet at Summer Camp

Gymnastics Update

Well, there is one big piece of news. I have compromised on Gymnast continuation in gymnastic’s training. He’s been out for 2 1/2 months now. And despite time to think about the free time he would have, trying another sport and so on, he is at committed as ever to returning to gymnastics.

I am committed to making better financial decisions. I will write more about this piece of news later.

Right now, I’m feeling good about my progress with my debt payoff for this month. It feels good.

Were you able to make it through the summer without blowing the budget? What changes do you make to your budget for the school year versus the summer?

 


Negotiating with Debt Collectors

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It’s been a good month at work. Really good. With that being said, I would like to seeing about negotiating with debt collectors regarding my smaller debts.

While I am still focused on my credit card debt, I would like to revisit the debt I have in collections. I’m planning to make some calls later this week and see if there is any negotiating to be done.

Don’t Pay Debt that is Not Yours

Someone recently asked me who I blamed for my debt. And I joked around saying the universe, my ex-husband and so on. But in the end, my debt is the result of MY DECISIONS. I must own it, all of it.

debt spelled in penniesBut that doesn’t mean, I am going to be responsible for other’s debt. Last week I got a call from American Express. They were asking me to settle a debt with them.

I have never in my life had an American Express card. Thankfully, it seems to have been settled with that one phone call. I received a letter from them acknowledging the error or fraud and that I did not owe them any money.

It was surprisingly simple.

Tips for Dealing with Collection Agencies

I read up on some tips for negotiating these payments. On the debts that are actually mine that is.

Most of the tips were common sense to me, but I learned a few things.

First, I didn’t realize that you could get them to stop calling you. Did you know that?

And while I am still concerned about my credit score, I am much more focused on just being rid of my debt. I found the Credit Warriors site to be very thorough when it comes to collection accounts.

There are lots of legalities when it comes to collection agencies. What they can do? Where they can do it? When they can do it? And how they can do it?

The laws also govern if they can legally attempt to collect on a debt.

Hit me with your personal experience. Tell me any tips you have for getting these debts settled.