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Debt Balances

September 4th, 2006 at 05:30 pm

As those of you who follow my blog may realize, my fiancee and I have no credit card debt, thank god! LOL! BUT, we do have a couple of small-ish loans, and one car loan to conquer. Debt balances as of the end of August are as follows:

My parents: $4,555 (various loans after I had my youngest son via C-section with no health insurance)
DBF's grandmother: $2,600 (loan for house downpayment, was originally $3K in July)
DBF's dad: $750 (finally got us a truck! we bought his old one, a 96 Dodge Dakota that works great!)
Mortgage: $62,956.10
DBF's car: $4,700 (this is an estimate, I'll get exact figures next week. Seems high for a 95, but it was his dream car so I don't give him crap about it lol)

Total Debt: $75.561.10

Major thing first is to get his grandmother paid off, we send her $200 a month right now, but want to pay her off by January so we need to step that up quite a bit after the wedding. That would be $800 a month, and I don't know if that's doable, but we're gonna try!!!

Breakdown of repayment is as follows:
Mortgage: Payment is $534.XX a month, but I'm sending $550 at least. watching that large interest amount go down is a good thing!
My parents: $100 a month until other debts (excluding mortgage) are paid off.
His grandmother: discussed above
His dad: This one's not a priority at the moment, dad's attitude is whenever whatever, so we're looking at starting payments probably in November or December, and paying it off quickly due to small amount.
His car: right now payment is $131 every two weeks, this is an auto debit, and no interest is charged (or so DBF says, I need to check into that), so will need to look into getting that amount upped after other debts are lowered a bit.

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