I’ve been dreading this bit. Laying out my debts is something I avoid at all costs. Looking at the black numbers set into a white page is quite different than simply imagining what I “might” owe.
But, it must be done. Here we go, from highest to lowest APR.
Bank of America CC (28.99%) – $9830.02
J Crew Store Card (20.99%) – $1,913.54
Washington Mutual CC (14.99%) – $7,500.42
AMEX (9.99%) – $3,535.94
Total – $22,779.92
That hurts. Also, remember how I said I was great at paying my bills on time? I lied. As it turns out, I was so wrapped up in the recent Thanksgiving holiday that I forgot about my Bank of America payment. So, my APR has shot up to nearly 29% and I owe $590, which I cannot take care of until I am paid in a few days.
To add insult to injury, the credit market has crawled into its shell and it’s currently impossible to find a decent personal loan, line of credit or balance transfer offer to consolidate. The thought of being stuck with a THIRTY PERCENT rate for a year makes me want to vomit. I will be researching consolidation options that I will talk about in a later post.