I live, write, and garden in the PNW with my husband of 27 years, disabled daughter, college-aged son, and my 84-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!On April 9, 2006 I started this blog. It's hard to believe it's been five years (even if I took one year off from blogging there in the middle). In that time we have paid off a lot of debt, most of it incurred from having really bad medical insurance and multiple surgeries. We started at around $200,000 and had medical expenses somewhere in the middle that added to that total as well as bought a new car (at one point we were as high as $250,000).
We have paid off a lot in the last five years, but honestly the real progress has been made this year since January by paying off the $38,323.87 from the BoA Gold Star Loan and $8000 of credit card debt (paid off one card and most of a second card).
What we are left with now is:
$90,000.00 owed to Mom for medical debt
$21,224.97 mortgage
$15,839.43 car loan
$21,044.92 total credit card debt
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148,109.32 total debt owed
But of the unsecured debt owed it is $111,224.97. Hopefully we will be able to sell the house within the year and then that debt will be gone and we'll have a substantial down payment for our next house. The credit card debt will be gone by the end of the year and then the car debt should be gone by April of 2012. It feels good to know that in a year we will be free of everything but what we owe to my mom.
Mom doesn't want more paid back then $1000 a month because she is using it to live on and likes having a steady income. But if she dies before it is paid off then the debt is forgiven and is not owed to the estate. Which will be nice not to worry about, but I'd rather have her around for the next seven and a half years it'll take to pay her back.
Blogoversary
April 9th, 2011 at 08:38 pm
April 9th, 2011 at 09:19 pm 1302383944
April 9th, 2011 at 11:02 pm 1302390178
April 10th, 2011 at 12:08 am 1302394135
April 10th, 2011 at 03:38 am 1302406729
April 10th, 2011 at 04:13 am 1302408816
April 10th, 2011 at 04:35 pm 1302453308
April 10th, 2011 at 10:39 pm 1302475179