I (finally) DID IT!

March 29, 2012

I paid off a credit card in full!

Good-bye Dell Preferred Account!

Today I sent in my final payment to my Dell Account. A payment of $200 should be crediting my account on Friday morning. And I will be one small step closer to becoming debt free!

On top of this, I have another credit card that is very close to being paid off. I expect it to be done in the next month or so. This depends on my income in the coming weeks. I could pay it off right now but I have yet to form a working budget (I KNOW! please berate me on this. I keep blowing it each time I try to form one.)

I signed up with SpringCoin a few months ago to help me pay down my debt. The plan is to start accumulating funds at a great rate now that these two bills will be gone. Then I can start making offers to my creditors and hopefully pay them off.

I should be able to allocate $200 each month into this account and will start negotiating my smallest bill first. That would be Capital One (I’m not hopeful that they’ll negotiate since Capital One is Insane!). The amount I owe is around $2,000. Hopefully in just a few months I’ll be able to say that I’ve settled that account.

I love the power that SpringCoin is offering me. If I weren’t sending my money somewhere to accumulate while I negotiate with the debt collectors, then I would probably end up spending the money. I’m very happy with it. If you are in debt and looking to get out quicker, I suggest signing up with SpringCoin.

In case you aren’t familiar with them:

SpringCoin (formerly known as DebtEye during beta) is an online debt relief coach that paves a clear “get out of debt” road map and and provides personalized advice to help people get out of debt quickly. Mashable called it one of the 5 “must try products from Y-Combinator”. New York Times described it as “Mint.com for the indebted.”

In honor of Financial Literacy Month (April), SpringCoin is offering a fabulous deal so that everyone can take control of their finances. From now until the end of April, EVERYONE can get a free Lifetime account (That is a value of $96 per year!).

Hopefully next month I’ll be telling you how I paid off my second credit card!

AMAZING Photo Credit:

I also blog at A Five Star Life. I write about anything that comes to mind but try to focus on finding the good in daily life.

29 Responses to I (finally) DID IT!

Well Heeled Blog on March 29, 2012 at 12:59 am

Congratulations!! This is such a great accomplishment.
Well Heeled Blog recently posted..High Prices in Fashion Magazines

Well Heeled Blog(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:18 am
  
  Thanks so much! Feels good too!
  
  Jessica The DebtPrincess(Quote)
  
Carrie Smith on March 29, 2012 at 10:34 am

Congratulations! This is so exciting, and you should be super proud of yourself. It’s just the beginning too, now you’re gaining momentum. Can’t wait to see how everything goes over the coming months.
Carrie Smith recently posted..5 Little Known Facts About a Roth IRA

Carrie Smith(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:17 am
  
  Thanks Carrie!! I can’t wait to see it really snowball into something huge!!
  
  Jessica The DebtPrincess(Quote)
  
Elizabeth on March 29, 2012 at 12:13 pm

Woooooooo!

Elizabeth(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:16 am
  
  WOOOO is right! (I need to email you btw, Kimmeh and I came up with a new adventure for parts of the DD!)
  
  Jessica The DebtPrincess(Quote)
  
Amiyrah @ 4 hats and frugal on March 29, 2012 at 1:34 pm

So so proud of you! Now you are on a roll and it will keep you motivated to get rid of the rest. You go girl!

Amiyrah @ 4 hats and frugal(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:15 am
  
  Thanks Amiyrah!! I can’t wait to make this roll even bigger.
  
  Jessica The DebtPrincess(Quote)
  
MommaStar on March 29, 2012 at 2:56 pm

That’s wonderful! Congrats on the progress. Baby steps.. before you know it you’ll debt free!

MommaStar(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:14 am
  
  THank you!. My goal is to be credit card debt free before the end of 2015. I am pretty sure I can hit that if I work harder!
  
  Jessica The DebtPrincess(Quote)
  
Christa on March 29, 2012 at 4:16 pm

Yippee! Congrats! I can’t wait to say that about my last credit card!

Christa(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:13 am
  
  I can’t wait to say it about my own last card too!! Yippee for the both of us!
  
  Jessica The DebtPrincess(Quote)
  
Chris P on March 29, 2012 at 10:01 pm

Congratulations-I paid off all cards in January-it feels so good!! Two years to pay off mortgage and auto-but so much better than where I could have been!!

Chris P(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:13 am
  
  Good for you Chris!! I don’t have to worry about a mortgage or auto loan but those dastardly student loans will be waiting for me after the credit cards.
  
  Jessica The DebtPrincess(Quote)
  
Matt @ RamblingFever Money
Twitter:
on March 30, 2012 at 8:29 am

I did not know April was financial literacy month. Shoot! I should have saved my financial literacy post I wrote last week for that. I should know these things! Oh well, I can always expand on my thoughts and link to my own post later next month.

Congratulations on getting one of them slime-balls out of your life!
Matt @ RamblingFever Money recently posted..

Matt @ RamblingFever Money(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 11:12 am
  
  Thanks Matt.
  
  I’m not sure how well known FinLit month is but we need to make it so. You can always write more about it.
  
  Jessica The DebtPrincess(Quote)
  
John | Married (with Debt) on March 30, 2012 at 9:28 am

Congratulations! One step closer to debt freedom!

John | Married (with Debt)(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 10:58 am
  
  One small step for the DP, one giant step closer to telling Capital One to eff off!!
  
  Jessica The DebtPrincess(Quote)
  
SavingfromScratch on March 30, 2012 at 9:36 am

Nicely done! Get those credit cards behind you, and you’ll be well on your way.
SavingfromScratch recently posted..How do I file my taxes?

SavingfromScratch(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 10:44 am
  
  I can’t wait for the day when I have no credit cards!! Can’t freakin wait!
  
  Jessica The DebtPrincess(Quote)
  
Daisy @ Add Vodka
Twitter:
on March 30, 2012 at 9:43 am

Congrats my friend! That’s freaking amazing! You must feel so great.

Daisy @ Add Vodka(Quote)

- Jessica The DebtPrincess on March 30, 2012 at 10:44 am
  
  Thank you! I do feel amazing. I really want to keep this momentum going!
  
  Jessica The DebtPrincess(Quote)
  
Elizabeth on March 30, 2012 at 11:26 am

Jessica The DebtPrincess:
WOOOO is right! (I need to email you btw, Kimmeh and I came up with a new adventure for parts of the DD!)

I love adventure!

Elizabeth(Quote)

Melissa@PersonalFinanceJourney on March 30, 2012 at 2:33 pm

Congratulations! You should gain even more traction now!
Melissa@PersonalFinanceJourney recently posted..

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Andi @ MealPlanRescue
Twitter:
on March 30, 2012 at 10:28 pm

Congratulations! We’re starting some debt payoff so I’ll have to look at the SpringCoin!

Andi @ MealPlanRescue(Quote)

- Jessica The DebtPrincess on March 31, 2012 at 9:31 pm
  
  Thanks Andi. Good luck to you!! Definitely check it out!
  
  Jessica The DebtPrincess(Quote)
  
Miiockm on March 31, 2012 at 3:36 pm

Congrats, another step in the right direction.
Miiockm recently posted..Know your Coffee – Caffeine Content

Miiockm(Quote)

- Jessica The DebtPrincess on March 31, 2012 at 9:31 pm
  
  Thank you so much!
  
  Jessica The DebtPrincess(Quote)
  
Dannielle @ Odd Cents
Twitter:
on April 1, 2012 at 9:56 pm

Great news! Congrats! One step at a time and you will get there.

Dannielle @ Odd Cents(Quote)