AW - Sold the car

[luckyae13]

Thanks to @shoegal and her suggestion for Auto Trader I sold my car and made a little extra on top. I used the extra to get me a bike and some bike gear (helmet, basket, lock).
I didn't think it would sell so fast, but I'm not complaining!

That means I knocked out about $13,000 of debt!!

Leaving me with:
$14650 medical
$1500 charged off credit card
$850 credit card / 10% interest rate
$50000 student loans / interest 6% or less

$67,000 total

Being happy is an understatement. Now, I'll begin snowballing the credit cards and I'm calling to negotiate the medical bills.

Thanks for all the advice. I feel like I've got a much better handle on things.

[Deleted]

Freaking A! That is awesome!!!! Holy moses.

OK, so the $850 CC bill, you should be able to knock out SUPER FAST, right?

Then, in your shoes, I would get rid of that charged off credit card and then focus on your medical debt.

Just keep paying on the student loans, but DO NOT let them ever get deferred or any of that nonsense. If you chug away at your two credit cards, you will only have 2 debtors (medical and student loan) and then you can really focus your efforts!

Good luck on your negotiation on the medical bills. At least this time, if you need to do a "lump sum" you might be able to save for a year or two and try that....excited to hear your next steps!

[explorer2001]

Holy crap! That's awesome. Congratulations!

Keep up the good work.

[bina]

Good job!

[glynn]

GREAT!!!!

[audette]

Awesome! The rest of that looks manageable. Still something to work on, but it sounds like it is less overwhelming for you. Yay!

[galaxy8227]

That's awesome congrats!!!

[illgetthere]

You just freed up $650/month plus maintanence! That's awesome and should really make a dent in everything else.

[luckyae13]

Thanks everyone!!! I'm seriously over the moon. It was a big sacrifice but I know it will be worth it in the end. My 5 year future self will be grateful.

[WinterWine]

Go you!!! I'm impressed with how motivated you were to get that debt gone ASAP!! Kudos :-) what is the interest rate on the $1,500 credit card and the medical debt ?

[Deleted]

luckyae13 - are you going to get another car, or will biking work for you for now??

So envious if you can bike everywhere

[luckyae13]

Mar 31, 2014 16:15:25 GMT -5 @shoegal said:

luckyae13 - are you going to get another car, or will biking work for you for now??

So envious if you can bike everywhere

I'll be biking everywhere. I'm lucky enough to live in an area that makes it easy.

I don't plan on getting a car for a few years at least.

[imojoebunny]

Congrats! I love Autotrader.

[luckyae13]

Mar 31, 2014 16:14:39 GMT -5 WinterWine said:

Go you!!! I'm impressed with how motivated you were to get that debt gone ASAP!! Kudos :-) what is the interest rate on the $1,500 credit card and the medical debt ?

The $1500 is charged off. I'm not sure of the rate. I'm assuming I'll be able to settle those as well.

I don't know the medical rate. I keep forgetting to ask. I've got a call scheduled for tomorrow so I'll ask then.

[sh10]

Congrats!!

[aurora]

Mar 31, 2014 16:19:30 GMT -5 luckyae13 said:

Mar 31, 2014 16:15:25 GMT -5 @shoegal said:

luckyae13 - are you going to get another car, or will biking work for you for now??

So envious if you can bike everywhere

I'll be biking everywhere. I'm lucky enough to live in an area that makes it easy.

I don't plan on getting a car for a few years at least.

Fantastic update, and I like your plan to bike everywhere.  Not only will it be cheaper, but it'll also be great for your health!

We lived for 3.5 months in a small city in Denmark without a car.  Of course public transportation is better there than in most of the U.S., but it was kind of freeing in some ways not even to have the car to turn to as an option.  We did a lot of walking and I think it was really good for us.

[luckyae13]

I called on the charged off card and I was able to pay it off for $700!!!

Woo!!

Thanks to this board for all the motivation and support!!

[toesie]

You go girl! That's awesome with all the updates. SO happy for you.

[bunnysmom]

Congratulations! If you continue like this, you will be debt free soon!

[thecatinthehat]

We will be selling our cars soon. Can you tell me more about Autotrader??

[phunluvin82]

Congrats! As someone whose only 'vehicle' is a bike, I think you'll feel great about this in the end. I am much more healthy and in shape now. Since I commute to work by bike, I am still getting exercise even on all those days when I'm 'too busy to work out'. I also have seen a reduction in my grocery bill b/c I buy less impulse items when I know I need to get them home in the bike basket. My waistline and wallet are both better for it, so win-win!