Woohoo! As of today, I am officially no longer in six figures of debt!
Current stats from my lender:
Balance: $98,992.21
Term Remaining on Debtor’s Prison Sentence: 4 years and 5 months
Ahhh. That balance is a beautiful sight! Thanks to sending more money than the minimum payment each month, which is $2,035, I’ve already shaved a few extra months off of my payment schedule. (I started out with a 5 year loan.) Maintaining this rate of payback will not be fun, but I will do what I have to in order to keep shortening the time remaining.
Just wanted to share the good news.
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“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW) [All posts on one page]
Double Debt Single Woman 
Congrats!! You are an inspiration.
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Thanks, Debbie!
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Congratulations!!!!!!!
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Thank you, Belinda!
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Congratulations! What a huge milestone and your readers are so happy for you!
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Yes, it is! I wish I were saying goodbye to the whole thing, but I’ll take what I can get! 😄
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Congratulations!
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Thanks, Candice!
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This is excellent! Congrats on the milestone!
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Thanks, ZJ. I’m keeping at it.
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Yay! Very happy for you.
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Thanks! I’m getting there bit by bit.
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Congratulations. Once you get below a certain amount it stops being a millstone and becomes a manageable part of life.That amount varies for each person, it could be $50,000 or less, but a massive success will be when it gets down to the amount where it loses its power over you.
Best of luck.
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Exactly! This is one more milestone of many. Thanks, Paul.
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I hope Paul is right, but as far as I’m concerned, at currently down to $36,300+/- $10 from $76,000 +/- $500 9 years ago, the less debt I have, the more irritated I become that it’s still there. Unlike with DDSW, my income prospects and chosen lifestyle of raising a child as a primary parent do not allow for extra payments above the minimum on the magnitude of more than a couple $100s a month, so I’m just dealing with it… 12 more years!
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Don’t forget that your income will likely increase within the next several years (cost of living increases, raises). I bet you’ll be out of debt in less than 12 years.
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Hip Hip Hooray!!!
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Ha! Hurrah! 😄. Thanks!
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Great, the day has come! Cheers and to the next milestones!
Let us know more about “gym crawl” results and the selected form of exercise.
(Also, if it would be of use, I can send you (via email perhaps or some inbox on this site if available) a spreadsheet that I made to keep track of my two federal student loans – the remaining form of my debt. This spreadsheet considers the ‘baseline’ as payments established by the Debt Lords to keep the Debt Prisoner’s credit rating and delinquency status in check, and has a separate tab to track extra payments and consequent savings amount in time and money. The inputs in the baseline tab involve outstanding principals for each loan, corresponding annual interest rates, and the minimum required monthly payments. Additional inputs in the ‘extra payments’ tab involve the extra payments made to the Debt Lords, Inc. on a monthly (or less frequent whole number multiple of monthly) basis. There is also a “what really happened” tab, so that the baseline, the actual record, and the hypothetical scenario can be cross compared. Let me know.
I have tracked my spreadsheet’s amounts against the Navient’s daily compounding stated debt amounts, and am currently 7c off, most likely owing to the fact that they are doing some shenanigans during leap year that involve a regular daily year interest cut but leap year interest compounding. B*%$*es. I’ll do some additional tweaks to see… But if it could be of help, just let me know where to best deposit the file.)
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Thanks for offering this, czanclus. I’ll do a gym update soon.
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Thanks. Czanclus, you can send it to my email address: doubledebtsinglewoman AT mail DOT com
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Sent. I hope it comes through. 🙂
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Thanks for sharing this! I will take a look.
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Super good news! I will really be happy for you when this debt sits at less than $50,000. I agree with Paul above. You want to be at the point where this darn debt is not such a monkey on your back!
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You aren’t the only one 🙂. Thanks, Isabella.
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Yayyyyyyyyyy. I love the 90s too! But I hope you don’t spend too much time there, actually 🙂
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Ha! Yes, I plan to be a time tourist. 🙂
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Yey, that’s so great! You’ve made a lot of progress this year!
If and only if you feel like sharing, I’d be interested to know how the whole housing situation is going.
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Thanks, Maria! Ahh yes, housing… I’ll do a quick update on that too.
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Congratulations! You are getting there. Keep up the great work! When this is all behind, you are going to be in such great shape financially because you KNOW in every fiber of your being how little money you really need to live on. You will build wealth VERY quickly when the debt is gone. Well done! 🙂
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Thanks, Cynthia. Yes, that’s the plan!
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Keep up the great work. You have a number, a date and are moving in the right direction. That’s half the battle right there.
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Thanks. Gotta keep movin’.
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