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December 31, 2008...Time's up

Posted by Sleepless , 31 December 2008 · 126 views

Overall Update
So this is me...then. Hopefully, this will be the start of a good prequel of my life in 2009. :grin:

Let me first introduce myself. I am Sleepless. I joined CreditBoards (CB) almost 2 years ago. I found CB while searching for help after a collection agency (CA) from a dentist posted to my credit report (CR) and dropped my FICO score 100 points :o The endless searching and panic rendered me...SLEEPLESS. However, with the help of CB, I was able to not ONLY rid myself of that slimball CA, I went from 16K in available credit to over 300K!!! :clapping:

But that's not the end of the story.

Well I promised myself that would NEVER-EVER let myself get addicted to credit again (like in my earlier years...thank God for Dads..and yes, that's a BIG G & D B) ) so I was game for the big credit lines. I mean, I'm SO mature now right? WRONG. I thought to myself; I make a great stipend. I have a great home and car, so why not treat myself to some of ALL THAT CREDIT. Right? It's MINE! THEY gave it to ME! I mean everyone else in the U.S. was living on the hog, why not ME?

So I decided to start buying things on 0% cards that I wanted. Only THIS time I wanted LV and Chanel instead of Coach. I wanted the Lexus instead of the Toyota. I wanted the Rolex! I wanted granite, dammit! :angel: I became an AGENT OF CHAOTIC SPENDING. I was burning through credit faster than FORD, GM, & ...well, not quite THAT much, but you get the point.

My debt quickly rose from 10% to 15%! You might say...well that's not that bad right? WRONG! 10% of $16K is only $1.6K, however 15% of $300K is $45K!! YIKES :o

So the bad news is...Sleepless racked up almost $50K :o
Oh yeah...and I left my husband <_< But i'll save that for another blog ;)

The good news is...

1) My scores are still all in the mid to upper 700s
2) I am employed and still making a decent salary
3) I am not behind on any of my bills and pay double the min payment
4) I have things that "hopefully" will resale at a decent price.

So starting TOMORROW I am on a life changing journey:

Zero debt by December 1, 2009
50 POUNDS weight loss by June 1, 2009

Aggressive much? Maybe. But that's just how I roll :good:

It will be a sec by sec, min by min, day by day, week by week, and month by month effort.

I plan to use the snowball approach to the debt right away. I also plan to sell several of my high end bags, maybe all if needed. I have a LOT of electronics to unload hopefully in spring "YARD SALE".

As far as weight...I just got my weight watchers starter kit and I plan to start tomorrow. I also plan to cut back on so much partying and drinking. I'm sure that will cut the pounds pretty quickly and improve my mood.

I hope you join me in my quest! I will be 150% honest in my plan and actuals.

Till the new year!

Sleepless.




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