Seeing Red

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.

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3 Responses to “Seeing Red”

  1. The Adventures of Penny Plastic Says:

    […] The Adventures of Penny Plastic Join Penny on her thrilling (and terrifying) adventure, as she navigates the grim financial landscape and attempts to unload $23,000 in credit card debt « Seeing Red […]

  2. pilgrimsoul Says:

    I’m rooting for you sweetpea!

  3. tracy Says:

    try a debt management program. i just signed up for one because i can only afford minimum monthly payments with what i make. so basically, i’ll have my credit card debt (in the area of about $6500) paid off in 3 1/2 years. it would take me upwards of 20 years to pay it off on my own if i was just making minimum payments.

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