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April 2016 Debt Update

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 April 2016 debt update

Happy Friday everyone. For those who are new here, I’ve been actively paying on my debt since January 2015. Below is my April 2016 Debt update:

My total debt decreased from $69,146.07 to $68,887.38. That was a decrease of $258.69. That number would have been higher, but I had to put some of the money back in my emergency account due to the tires that I had to get last month.  Let’s look at current numbers.

Loan 2 – Down from $5870 to $5860

Wells Fargo – Down for $653.30 to $519.11

Bank of America CC – Down from $932.32 to $920.78

Chase – Down from $1960 to $1935

Navient – Down from $24,852.34 to $24,777.24

Nelnet – Down from $34,878.11 to $34,875.25

I like the fact that all the numbers are getting smaller. The Wells Fargo loan should be even smaller in my next update. I won a contest sponsored by LendEDU. The prize was a $250 payment on your student loan. It should be applied to my Wells Fargo account by then.


Previous Debt Updates

January 2015 Debt Update ( The 1st One)

January 2016 Debt Update

February 2016 Debt Update

March 2016 Debt Update

You can view all of my debt updates here.

6 Comments

  1. GM JB I see that those numbers are down down. I just scraficed my bonus money that I had put back to go toward a transportation business I wanted to start. So I went in paid off the rental property loan which was good for the family but it set me back alittle . The good thing is that we don’t have the 230 payment and plus we have 350 from the rental property so that 570 we saving now for the joint account.

    1. That’s a great move Rock. That $570 will add up in no time!

  2. Congrats on making progress. Have you considered doing the debt snowball method where you pay down the smallest loan first to get rid of it completely and then tackle the next smallest one?

    1. I am doing the debt snowball method.

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