As of December 8th, 2012, my debt load included:

  • Student Loan – floating interest rate 5.50% (currently on interest relief though)
  • One Visa – interest rate 11.99%
  • One Mastercard – interest rate 12.99%

This month I got rid of the two credit cards and consolidated my balance onto a personal loan with a ever so slightly lower interest rate of 11.65% (because of the total amount of my debt load, I couldn’t negotiate a lower rate but boy did I try!!! Apparently I’m not that charming lol)

The grand total of my debt as of January 2013:  - $57,458.94

Broken down, it looks like this…

Student Loan: – $45,525.94

Personal Loan: – $11,933.00

Scary stuff right?

Right now I am concentrating on paying off my personal loan since there is no interest accruing on the student loan.

At the end of every month I will keep you posted on my pay-off debt progress. Keep checking back for updates! :)

End of January 2013 Update
End of February 2013 Update
End of March 2013 Update
End of April 2013 Update
End of May 2013 Update
End of June 2013 Update
End of July 2013 Update
End of August 2013 Update
Finally Free From Credit Card Debt – Friday, September 13th, 2013!
End of September 2013 Update
End of October 2013 Update
End of November 2013 Update
End of December 2013 Update

End of January 2014 Update
End of February 2014 Update
End of March 2014 Update