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Author: ExplorerDora Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311074  
Subject: Re: May Update Date: 5/30/2003 11:53 AM
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Sorry about that! Let's try this again.

I first posted with the rough details of our debt in early March.
Since then, we have made slow, but steady progress. DH is starting a
new job in 2 weeks, which has the potential for more advancement and a larger salary. Thanks to everyone's advice here, we were able to cut out some expenses and have been diligently paying down our credit card debts. I also put in a complaint to MBNA about their raising my interest rate, and whaddayaknow? It's back to where it started. I was also lucky enough to get a balance transfer offer from Chase for 3.9% for the life of the loan and another balance transfer offer from Discover for 5.99%. Here are the details of our progress:

December 31, 2002:

Citibank 5,914.17
Discovercard 7,304.67
First USA 3,390.45
MBNA 15,081.84
Chase 5,699.49
Total $37,390.62

May 30, 2003:

Citibank 2,000.00
Discovercard 11,603.41
First USA 3,100.00
MBNA 8,900.00
Chase 5,899.05
Total $31,502.46

Total paid off to date: $5,888.16

The E-fund (non-existant at 12/31/02) now stands at $250 and is eagerly awaiting the child tax refund credit (another $400).

Our plan of attack at this point it to pay off Citibank ($2,000) in hopes of getting a balance transfer offer. Then we will be building the E-fund a bit. Then I have MBNA back in my sights (still the highest interest rate).

Questions? Comments? Suggestions?

Thanks for reading, everyone!

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