October 2024 Debt Payoff
October was a victorious month for us in our debt payoff journey. We made significant progress in tackling our collection debt.
Medical Debt
Hand Therapy $1,315.60 down $200.00
Thunder Basin $8,746.45 down $200.00
Total $10,062.05 down $400
Family
$1,360.00 down $0
Misc.
401K Loan $3,684.02 down $83.78
Collections
Credit Collections Bureau $1,400.91 down $66.23
Crook County Medical $8,842.22 down $36.83
Collections Pro Mine $13,004.73 down $473.38
Collections Pro His $41,757.24 down $288.95
Total $65,005.10 down $865.39
Student Loans
Mohela $89,180.87
Total $169,292.04 down $1,349.14
Through budgeting and determination to stick to our debt payoff plan, we could make a total payment of $1,313.18 towards our debt and reduce it by $1,349.14. One of the reasons for the high paid-off amount is that somewhere I missed tracking a payment to Hand Therapy and just noticed the balance in my spreadsheets was different from the current bill. In my debt avalanche and my switch from snowball to avalanche posts, I share tentative payoff dates for all our debts and have since started to make it a game of paying off debt. We were able to pay off one of our accounts with a lower payoff agreement, resulting in three months being shaved off of our overall debt payoff timeline. We are one month closer to paying off our Credit Collections Bureau and Thunder Basin. Hand Therapy is two months closer now. Our mindset shift from snowball to avalanche debt repayment has proven to be effective, and we look forward to sharing more victorious updates in the future. Take a look back at where we were in October 2023, in one year we have paid off $7,666.56!!!