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Last month we successfully paid off our Amazon account, JC Penney, and Ann Taylor cards. This month we just paid off one of our two Lowes accounts. That's about $1400 of debt removed in two months time. Next month we're going to see if we can pay off Best Buy, about another $800-900 of debt.
So far, the plan is working pretty well. One thing that has us nervous is our Bank Of America account has been getting less than the 'minimum' payment amount so we can throw that money at clearing out other, smaller, debts. They have called us about this and don't approve, obviously, but with them being one of the biggest debts, they're going to get paid last. It may negatively affect our credit rating, but the whole goal here is to get out from under credit debt and just start using cash, so we're not freaking out about it (yet).
So far, the plan is working pretty well. One thing that has us nervous is our Bank Of America account has been getting less than the 'minimum' payment amount so we can throw that money at clearing out other, smaller, debts. They have called us about this and don't approve, obviously, but with them being one of the biggest debts, they're going to get paid last. It may negatively affect our credit rating, but the whole goal here is to get out from under credit debt and just start using cash, so we're not freaking out about it (yet).
