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April 9th, 2011 at 01:38 pm

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
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.

7 Responses to “Blogoversary”

  1. Thrifty Ray Says:

    I remember when you first started...and some of the early struggles! Youve come a long way- and done well! Happy Blogoversary!!

  2. creditcardfree Says:

    Congratulations and Happy Blogoversary!

  3. frugaltexan75 Says:

    Happy blogaversery!

  4. debtfreeme Says:

    Such wonderful news and progress! Congratulations to your and your family and I can't wait to watch further progress.

  5. baselle Says:

    Wow. The tunnel widens and a genuine light is seen. Well done! Happy blogoversary!

  6. Ima saver Says:

    You have done a great job. Happy Blogoversary!

  7. LuckyRobin Says:

    Thank you, everyone.

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