Coming out of lurkdom :)

iVillage Member
Registered: 08-21-2006
Coming out of lurkdom :)
5
Sat, 01-30-2010 - 9:30am

Hi!
I've lurked on the board for quite a few months now, hoping that things would fall into place and I'd be able to start going after my debt.

We bought our house about a year and a half ago and we unable to sell our other house. So for a year we had renters in it, the rent covered the payments for our new house. When DH got full time at work, we decided to put the house back on market. That was in September. So we paid the mortgage, heat, electricity, water and insurance on two houses for almost half a year. Needless to say we couldn't attack our debt during that time, thankfully we didn't go backwards. But the house has sold, and now we can really go after our debt.

We've cut out most extras already, and we're about to switch to connectico for our phone as well which will save another $30 a month. We only have 1 vehicle which we own outright, and though we budget about $200 a month for gas, we use that whole amount as DH travels about an hour to work each way. We don't have cell phones, cable or daycare. Dh works full time and brings in $2242 avg every two weeks. I work pt and usually bring in $100 every week avg (sometimes more, sometimes less). We have 4 credit cards between the two of us, and owe approximately $15,000, we also have a line of credit which is at $8,000. By selling the other house we've freed up about $1600 every month that will mostly be going to debt. We're going to go after 1 credit card at a time (highest % first) and get those paid off. We should be able to get the credit cards paid off this year, and the line of credit by June of next year.

Just wanted to say that as a former lurker, that all your inspirational stories really helped out. Knowing that there is a light at the end of the tunnel is huge. Thanks

iVillage Member
Registered: 01-16-2010
Sat, 01-30-2010 - 12:37pm
Welcome! Sounds like you already have a good start. Good luck on your journey!




First Debt BUSTED 2/12/10 Second Debt BUSTED 2/26/10 Third Debt BUSTED 3/19/10
iVillage Member
Registered: 11-17-2007
Sat, 01-30-2010 - 8:49pm

iVillage Member
Registered: 08-21-2006
Sat, 01-30-2010 - 9:33pm

Dear Luvmysophiejo,
Thanks for the warm welcome!

I've lurked for awhile so I've been learning a lot from reading everyone elses posts.

Dear Mary Ann,
I'm glad that in the end it all worked out. Our renters were very almost always late, and at the time my DH was pt and we needed the money. Things were tight to say the least. I'm happy to be done with the property, and though I don't regret it at all, because we had 2 years of great memories in that house. Cheers!

iVillage Member
Registered: 11-17-2007
Sat, 01-30-2010 - 11:04pm

iVillage Member
Registered: 01-20-2010
Sun, 01-31-2010 - 11:26am

welcome! i hope you continue to find strength from this board. i am new here, too, and always amazed at the strength of everyone here to face their fears and debts in an honest and productive way.

best of luck to you!