So I stepped up payments a bit and paid off the student loan my mom took out for me! My mom defaulted on this loan a few years ago. I took over and rehabbed it back to a positive status. Paying $100 per month would have had this paid off next February. I stepped it up to $200, then $250, then just made one final payment for $500 and change. I just got a shocked email from my mother. She gets email notifications of payments and didn't expect such a large payment. I'm not sure she really knew how much was left to pay on the loan. I explained to her that it made more sense to pay less on one of my 0% balance transfers this month and more on the student loan. The money I would have spent on the student loan next month will now go towards my balance transfer. Doing things this way saves me interest.
It feels good to pay something off!
Paid off a debt
July 11th, 2006 at 01:20 am
July 11th, 2006 at 01:02 pm 1152622950
I hope to do the same... someday... soon. :-(
July 11th, 2006 at 01:45 pm 1152625551