Hi everyone!

I'm brand new here, so I figured I would share my story.  Please visit my Personal Finance Blog to get the FULL story: http://payingforplaying.savingadvice.com/

I'm a 20-something Professional digging my way out of a mountain of consumer debt.  That's right - no student loans, no car payments, no mortgage, nada.  Just too maybe Victoria's Secret purchases, dinners out, shopping sprees, and trips!  But I am fessing up now and ready to get rid of every ounce of this debt!

I am "snowballing."  For those of you in debt, I'm sure you've heard this many times over!  I am going my highest APR first though.  So currently I am working on a 29.99% APR.  I hope to have that one knocked out by the end of this month.  Then I have another 29.99% card to work on. 

In the past month in a half, I have paid off over $1000 and I have gotten 4 of my APRs lowered.  Now I am just concentrating on stockpiling my payments to all my debt.

I did start an Emergency Fund today as well.  It's taken me over a month to talk myself into it.  But I decided it HAD to be done!  I WILL NOT rely on my credit cards in an emergency.  Granted, my EF only has $5 in it, but hey, that's a start!

I'm happy to be a part of this board and I hope you all enjoy my blog!  Happy Reading and (hopefully) posting!

Hi,
welcome to the board! n ouch thats a lot debt ( i went on your site) word of advice after you pay off most of your credit cards keep only 2-3 good ones. It looks good on your credit report, easier to manage ,and less likely to slip on all that charging. Also CONGRATS on turning a new leaf and getting $1000 paid off. Good luck on the rest of that amount!

Wow. Although we don't have any consumer debt, we have in the past. Victoria's Secret is a tricky place, especially during their semi-annual sale. Lucky, I haven't been there in two years due to pregnancy/nursing.

I'm impressed at how much you paid off over the last month or so. Great job!!

Good to see that you're tackling this debt early on in your career.  You'll be past this debt in no time and then can make that interest work for you by investing wisely.  30% is a HUGE amount of interest.  If it takes a while to pay off I'd be more than happy to lend to you at a lower interest rate on Prosper.

Good luck on paying off all these CC debts, sounds like you have a great plan!  My wife was also a victim of the same type of Consumer Debt.  Victoria's secret, Pier 1, Bed Bath and Beyond, those types of things.  Just remember how great it feels to get one of those cards payed off and you'll never get stuck in debt again!

Mark

I just want to share my update!  I wasn't planning on doing so until August 28th - that is when my last statement of the month will be updated.  But I decided to update for my blog, just to see where I am now.  Not figuring in what I have paid already paid on 4 cards, I am at $2,107.95 since I started less than two months ago.  Once those accounts are updated, I will be under $11,000 (currently sitting on $11,534.59)!  I know in the next few months, things might get slower, but it feels so good right now to be taking HUGE steps in the right direction!

I bumped into a site www.debtxfactor.com  which provides you Immediate Debt Reduction, Debt Elimination NOT Consolidation! I got a good help from them and thought of sharing my experience with you guys.
Best of luck.