April was a terrific month financially. I managed to pay off $1,107 in debt. An amazing amount considering my net income is only $852. Now, I know some may ask how I managed to do that. The answer is simple. I received a quarterly distribution from the Telephone company, I own a piece of. In addition I used the money from the roommate to help get this debt reduced. I am still waiting for the annual dividend check from the telephone company. That check will be $300 and I will use that to help pay off the last $400 of my home improvement loan with AmeriFirst Home Improvements.
While, I had hoped to have this debt paid off by today. it just did not happen, because the phone company has mailed the dividend checks yet. So now, I am looking to getting the debt paid off by May 31st (or June 1st, if you will). No matter, what I can't see any reason this debt won't be paid off in this time. According to AmirFirst's automated system, my next payment due date isn't until August 10th, and the payoff in late May is $404.22. Once, I get that paid off, I can turn my focus to the Fingerhut debt.
The downside, is today I entered another debt. A medical debt, for Physical Therapy. The portion that the insurance won't pay after the completion of 12 treatments will $1,315 of the $2,280 bill. The Physical Therapy center tacks on a 5% processing fee for financing the "interest free" billing, bringing my total debt to $1380.75. The cost per treatment is $109.58. My monthly payment beginning on June 23 will be $57.53. Which means 3 of my weekly payments to AmeriFirst will be going to this new debt.
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go ahead share your thoughts with me now.
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Sorry to hear you will have high out-of-pocket expenses on your therapy, but WOW what a great deal that you could pay off so much debt and bring home such a small income. You're inspiring!!
ReplyDeleteAlthough you may have to pay a high medical expense God has blessed you to have a very productive April. Congratulations on the debt reduction!
ReplyDeleteHI! I think you really need to focus on an emergency fund as you will have another emergency. I am praying for you. Praise God you are making such strides with debt.
ReplyDeleteI have an emergency fund, but plan on using it this summer, but am really worried about doing that then I will be back to zero for emergencies. I am praying about that too. -Becky in NJ
mzmuny -
ReplyDeletethanks. Sounds like it will be less. They called and said that they figured in a treatment that is standard, but Blue Cross won't pay. So come Monday, I will have new figures reducing the total debt.
JW -
Thank you. I am looking forward to getting that $300 dividend check from Peoples Telecommunications, so I can finally get rid of that home improvement debt.
Becky -
Thank you, I appreciate all your prayers. You are right, I need to build up my emergency fund and leave it alone. I actually do have $50/week going into that fund, but I end up tapping that in my efforts to get debt-free faster.