I'm truly overcome with happiness right about now!! I checked the account first thing this morning and it was just GONE. I didn't realize that would happen, but since it's a personal loan and not a credit card, it's like the account was never there. It lets me log in and says zero balance, but when I try to look at past payments or any other info, there just is none!
Then I deleted the entire line from my debt spreadsheet. My credit card/personal debt is now down to two items: my last credit card with $11,104 left on it, and my loan to my dad with $6,000 still to pay.
Our minimum debt payments per month now total $2,422, including mortgage. That's the first time it's been less than $3,000 since I added NT's bills to mine and AS's!
I'm so glad to get rid of this loan because it was my last consolidation of other debts that I did. One of my first entries on this blog in 2007 was contemplating moving a few high-interest loans into this personal loan, but I was a little scared because in the past, every time I did a balance transfer, I would end up racking up the card's balance again anyway. That didn't happen this time.
The loan started at $30,000 in June 2007 with 8.99% fixed interest and a $623 fixed monthly payment for a five-year term. So it would have gotten paid off in 2012 if we hadn't paid extra. We paid it off in half the time!
Over the past year we got excess student loan money refunded to NT in checks, and we chose to put that toward this loan instead of the student loan. So $5301 of the balance is now sitting in a student loan, but one with a 6.8% interest rate and tax benefits. That loan is on the back burner because it hasn't come due and we only pay interest right now, but it's actually our highest-interest debt now that the Capital One loan is gone, so after paying off my dad, the credit card, and one of AS's student loans, it will be next in my sights, but probably not until 2012.
I guess that's about all I have to say about this loan. Time to happy-dance my way over to the Old Debt Graveyard and bury this sucker for good!! You can come with me if you want!
PS: Oh yeah, and that's $2704 down, $196 to go on my December debt goal. Almost forgot about that part. 
It happened!!!! Capital One personal loan is GONE!!!!
December 4th, 2009 at 03:23 pm
December 4th, 2009 at 03:30 pm 1259940606
I will accompany you over to the Graveyard of Old Debt.
"May your RIP, Capital One."
And now break out the wine, and let's dance!!
Funeral: Italian style.
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~~~~Happy Dancin'~~~~ with you!
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Congratulations!
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Have fun at the party.
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FYI.. Daycare in my neighborhood (Atlanta suburb)is ~$225 per week.
December 6th, 2009 at 03:40 am 1260070814
Thanks for following me; I appreciate it because when I feel like people are keeping track, I'm even more obligated to stay disciplined.
Yeah, if we had a car & could expand our search, I'm sure we could find comparable daycare prices. Our very central location, not to mention needing to find things on the bus line, is what's driving up prices. We'll be looking at other options, especially when the baby's a little older and sturdier. I might want the comfort of a big professional place at first. Plus, the $1300 place is half a block from my job! I'd love knowing the baby was that close by.
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