Yesterday I went ahead and paid off Loan 2 which was $414. Hopefully when I get my next unemployment check I am going to put that money into my checking account and everything will be ok. In addition, I'm skipiing my car payment this month. Every year our credit union gives us an option to skip December if we want, without any penalty. Check with your credit union who knows perhaps you can also skip it for a month.
As of 11.30.09 Debt balance
Car loan: $12, 049Student Loans
Loan 1: $14,300
Loan 2: Paid Off
Loan 3: $921 I'm planning to pay this one off during December as well.
Loan 4: $9,280
Total debt: $36,550
Total debt as of jan 08 was: $66,970
I've managed to pay off $30,420 so far..Still $36,550 to go..
Once I pay off Loan 3, I'm going to focus on Loan 1 because interest rate is around 10% for the loan. Loan 4 has 4% interest. Car loan is 4.5% which is not bad at all.
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