A year ago my wife decided to leave me, and I now live with my two teenagers. in a rented house. I work in a hotel.
My eagerness to get out of debt is still strong, but being divorced is expensive because a lot of the cost of living is the same, but the household income is half of what it was.
I owe money to the IRS and the bank, but we have just managed to sell the summer cabin and my new debt situation is listed below.
Some of the loans were taken over by my ex-wife and some are now half for me and half for her.
|May 2009||October 2011||July 2013|
|Mortgage 1||286,667||Payed off||Payed off|
|Mortgage 2||178,333||Payed off||Payed off|
|Mortgage 3||159667||159,667||Payed off|
|Bank loan 1||101,000||119,500||60,869|
|Bank loan 2||64,333||Payed off||Payed off|
|Bank loan 3||58,333||Payed off||Payed off|
|Private loan 1||1,833||5,000||Payed off|
|Private loan 2||64,333||Payed off||Payed off|
|IRS tax debt||0.00||0.00||11,000|
I hope to be debt free in no more than 5 years.
- I have started a separate bank account for fixed expenses, to which I make a monthly transfer.
- I have also started an emergency account where the goal is around USD 2,000.
- I will stay a renter at least until my tax debt is payed off.