Aug 17, 2009

Getting It Together


Over a year ago I was put on temporary lay-off from my job. The end result was me maxing-out my modest line of credit from a handful of credit cards. Hey, I had to help out with the cost of living, and even had a $300 book bill during the semester! But, enough of that.

I decided that it made no sense for me to continue to pay hundreds of dollars, a month, in outrageous interest fees on my cards. So I took the bull by the horn and negotiated a settlement with the bank connected to two of my cards. I am happy to report that I negotiated a settlement that will result in me paying off both cards within a week. Mind you the cards have a 27% interest rate on them!

Marcos has taken the brunt of the financial pressure. However, we knew that going into the arrangement of me attending school full-time and working part-time. I have contributed financially and do my part by maintaining home and hearth. Overall it's been by my goal to figure out a way to increase what I can contribute financially.

My little plan is going to result in my cash flow being freed up within a few weeks, enabling me to cover more of the monthly cost of living expenses. I just gave myself a pat on the back.

3 comments:

Junior said...

You deserve a big pat on the back! I just sold my car to help pay my credit card bills off... that ran up because of getting the car fixed!

CONGRATS! (p.s. so the cards worked with you, huh? Verrrry interesting...)

Allan S. said...

Oh Junior, the credit card industry is biting their nails these days. They don't want that bubble to burst.

Todd HellsKitchen said...

pat! pat! pat!