May 2017 debt status

May 2017 debt status

finance / Dave Ramsey

In my previous post I showed my debt when I started Dave Ramsey’s plan. Here is my current progress.

Creditor Original
amount
Current
amount
Interest
paid
Principal
paid
Forgiven
Judgement: Asset Acceptance $1764 $0 $14 $1764
Collection: MCM $3034 $0 $0 $3034
Collection: EOS CCA $643 $0 $0 $257 $386
Collection : Car repo $5376 $5376 $0 $0
Student loan: sub $7912 $7597 $379 $315
Student loan: unsub $9722 $9333 $465 $389
Credit card 1 $18 $0 $0 $18
Credit card 2 $7504 $5174 $1119 $2330
Car loan $21719 $19221 $1325 $2498
TOTAL $57692 $46701 $3302 $10605 $386

EOS CCA settled at $257.

Prior to start of plan, I was sending bi-weekly checks for the car repo. They cashed the first 4 but then returned the 5th check stating they would not accept payment at that address. Since they’re not accepting my money, I have not sent them anything more.

The 9 months from beginning Aug 2016 to end of Apr 2017, I have spent $10605 + $3302 = $13907 on debt. That’s an average of $1545 per month, equating to almost half my income. Considering that I have cash flowed a couple computer parts for repairs, purchased one new somewhat expensive networking gear, and saved a couple thousand for a business trip, that $1545 per month isn’t too terrible. The next couple months will be saving a couple thousand to get my daughter for the summer. After that, I will be able to really tackle the items producing a lot of interest, as they are the next items on the list.

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