No. of Recommendations: 1
Fred, et al.

I would appreciate a look see on our major debt repayment and see if you all think it can be improved, IOW, paid down faster or in a better way.

We are teachers at an international school. We are on a 12 mo. salary plan. We work from Aug.-June. We pay living expenses in the US in the summer.


Consolidation Loan (D.M.A.) negotiated interest rates for each cc

$88,000 debt
2,200/mo. x 57 mos. (8/00-3/05)

Paid to date 30 mos.

We proved to be one of the 4 out 5 who rebuild debt:

Consolidation Loan from our Provident Fund. Principal continues to accumulate interest (variable at about 5% average)

$75,000 loan ($10,000 into travel & living expenses for summer 03)
2,000/mo x 60 mos. (out of salary check) money is in Thai Baht

Paid to date 3 mos.


Outstanding cc debt
Bank of Asia Visa $5,800 at 8%


Living Expenses:

Housing/ Part of S & B Package = $0000.00
Allowance to DD 240.00
Food, Water,Household 400.00
Personal Thai Charity 500.00


Net Monthly Salary $5,500 x 12 mos. (after 2nd loan is taken out)

All money after 1st debt consolidation is in Thai baht and converted to today's rate of 43 baht to the $.

I guess I want to know if we are digging ourselves into a deeper hole or that we are on the right course as massively painful as it is.
Thanks for input...please be gentle. I bruise easily :)

Happy New Year...all sound fiscal years for everyone.

Thanks very much.

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