Where it Hurts

(Just as a reminder, here’s where we’re starting from.)

Yesterday I told you how we sold the kids’ Wii. We talked to our kids about “sacrifice” and “delayed gratification”.  Well, today, Jeremy got to practice those two things.  We sold his car.  (Before you ask, yes – I’ve felt it, too. I had to sell my Chris Botti tickets. THAT hurt. Moving on, now, before I start crying…)

Selling the car was an emotional roller coaster. First, it was worth $5,000. Then it was worth $0. Then it was back up, and back down.  Because of the major repairs the car was going to need, we were only able to get $1,800 for it.  At the end of the day, though, that amount of money was exactly what we needed to make two major payments which were able to reduce our total debt…

…wait for it…

…by 27.5%.

With the cash in hand, we called two of our major creditors and were able to negotiate settlements that allowed us to cut each of those amounts in half.  We paid one card off entirely, and made one major payment (out of four) to the other.

This is HUGE for us! An almost 30% reduction in our debt over the last two days is a major milestone, and the adrenaline kick might just be a motivator to get this taken out more quickly than we ever thought possible.

Another thanks to everyone for all of your support!

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4 Responses to “Where it Hurts”

  1. Lisa says:

    Awesome! I wish there was a "like" button on here.

  2. Louise says:

    WooHoo!! thats great that they let you negotiate. well done!

  3. jennifer says:

    wow…you all are serious. ramsey would be proud. keep us updated!!!

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