I can officially report we have less debt. The truck loan balance is now $7,897.12! We made our 2012 goal to get under $8K.
We were able to get the balance down with a lump sum principal payment of $1,840 and our regular payment, of which $300.18 was principal reduction.
We have applied and were approved for the Chase Slate credit card that currently has 0% interest for 15 months and free (yes free) balance transfers. Once the card comes in the mail we will request a balance transfer check to pay off this loan. We will have no problem paying the additional balance off in 15 months since we plan to make minimum payments of $559 each month. I would guess we will find additional money to throw at the loan as well to be done much sooner. And no additional interest!!!
Anyone else apply for the Chase Slate card to lower your interest? You can find the offer on the Chase website if want to reduce your interest rate on your own debt.
Less Debt!!
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