Scary, Scary Stuff: Our Debt Accounting

Debts We’ve Paid Off!

These are things we’ve agreed are not a high priority to tackle first, either because of a low interest rate or due to a natural payoff date which isn’t that far away.  That’s not to say they’re not concerning (they are!), but that they are not part of our highest priority items to tackle.

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$22,500

Credit Card Debt

Wow, I wish I could tell you I didn’t have this in my life.  But I did.  In my defense, a great deal of it is debt that I took on as part of my divorce, because I thought it was the right thing to do.  Looking back, it wasn’t fair, but that was then and this is now.

Balance 10/2016: $22,500 (original balance we’re working on attacking)

Balance 8/2017: $2,000!!!  We’ve now completely resolved $9,322 in debt, knocking out one card completely.  The other card still has $2,000 owed; $500 each month from September through November.

Balance 11/2017: $0!!!

What We’re Tackling Now

These are things we’ve agreed are not a high priority to tackle first, either because of a low interest rate or due to a natural payoff date which isn’t that far away.  That’s not to say they’re not concerning (they are!), but that they are not part of our highest priority items to tackle.

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$6,500

Medical Bills – His

Two heart attacks and now three heart surgeries in under a year have left us with medical bills to dig through and address!  They’re a huge administrative nightmare – it’s amazing how complicated this stuff can be!

Update 3/2017: $7,200.  We’ve definitely made progress, primarily in terms of resolving issues with insurance companies.  For example, there was a $582 bill that we’d been disputing for over a year that finally got corrected and ended up being $75.  There was the orthopedic surgery that we got charged for and had been automatically paid before we realized it was for a surgery he never had!  That’s now been refunded, thank goodness!

$1,900

Medical Bills – Mine

These are fairly small, thank goodness, but there are a few from a hospitalization and surgery I had back in the spring of 2016.

Update 3/2017: $1,900. I reached a settlement on a $88 debt this month for $52.  I know, it’s a minor win, but I’m knocking them out one by one.

Update 12/2017: Still working our way through these.

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$29,500

Family Bills

This is the biggest portion of his debts, and it weighs on us!  We will tackle this as part of our first priority list.

Stage 2 Debts

These are things we’ve agreed are not a high priority to tackle first, either because of a low interest rate or due to a natural payoff date which isn’t that far away.  That’s not to say they’re not concerning (they are!), but that they are not part of our highest priority items to tackle.

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$30,000

Student Loans

Pushing through to an MBA upped my income-earning potential a lot – but it also upped my debts a lot!  While this is low on our overall priority list, because it’s a low interest rate and tax-deductible, it will be a relief to have it off the list.

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