No. of Recommendations: 6
Hello all,

It's been a while since my last update. For all my intentions to post regular updates, I just can't get around to doing it. So this is one in a series of infrequent, irregular updates.

I joined TMF in Aug 2007 with a lot of debt. I hoped to be debt free in 2 years. Someone else estimated it would be approx 4 years. I think he/she had the right of it, especially since I had a major backsliding to overcome a year later with legal bills and family stuff.

Here's our current debt, rounded up:

CC - 11,500
Car - 3,200
Student loan - 14,900.

This is all debt I had from the beginning except the car loan which I reluctantly took out when my old car expired. I am working on the car debt at the moment. Or I was. My debt repayment is going to go on hold again for a few months but not because of legal bills this time but medical ones (again).

$550 - ambulance
$850 - hospital
$280 - doctor
$110 - labs
And to forestall the question, yes we have health insurance. Most of the bills were covered and what's above is what we were left with. Still, it is nearly $2K of new debt. I have set up payment plans for the ambulance, hospital and doctor, and aim to pay the lab off this month.

Question, now. I have a chunk of cash coming my way, from an inheritance. I won't have it for a couple of months yet. But, I could payoff either the student loan or the CC in full. Which one would be best? I was thinking student loan, because as I pay the CCs I become ever more determined with each CC I pay to never run them up again - it's painful to pay them down. But student loans are better debt than CCs, correct? I have closed all but 3 CCs at this point, too, to ensure I don't run them up again. I'm keeping 3 open for the credit history (one still has a balance). 7 cards have been closed now though, as I paid each one off.
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