Debt Update

In Uncategorized on July 22, 2009 at 12:30 pm

Here’s an update on my debt – finally!

Starting Amount: $30,032.47

Paid Off: $5,753.65

Current Amount: $24,278.82

Not bad, and I’m on track. I want to pay off another of my debts by the end of the year and I think I can do it. Considering I started this in May, I think I’m ahead of schedule so far!

Since I’ve paid off one card in full, I’m wondering what I should do next.
Do I close the card?
Do I maintain it by charging one thing to it per month and paying it off completely?
What is the best method to help increase my overall credit score?

Any suggestions are welcomed!

  1. Great job!! Keep working on paying off those debts. But keep it in balance with savings as well. It is always tough to stay in balance. Keep up the good work!

    • Yes, I am contributing heavily to savings now too. All of a sudden I felt a bit panicked and decided to shuck away a bit of cash into my Savings fund.

  2. Keep it open and use it like you recommended… unless u don’t plan on using it at all or you’re not applying for anything credit related in the next 6 months. Your score will go back up by then.

    • I would really like to improve my credit score so I think I will keep it open. Perhaps I will lower my limit on it though.

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