This has happened a lot... but figured it's time again. The end of the year is approaching and more importantly a new year is approaching - which includes both tax refunds and Goalsharing bonus. What to do... what to do...

I think part of that was decided today actually. I got a call from my collection agency. I think he was trying to say my current payment plan had expired (which is BS b/c I just renewed it a couple months ago) but offered me a settlement.

Now after today's payment cleared for November, my balance was down to about $1400 (paying $200/month). So theoretically, it would be paid off with my June payment next year. Not bad... and will certainly be nice to have that $$ back. What's the settlement then? They're willing to settle for $1000 right now.

As you could imagine... I don't have anywhere near $1000 to settle with. Lucky for me, they're willing to do $250/month for the next 4 months and still call it even. Now my concern with this is actually how that is reported to the credit agencies. Don't want them reporting some weird settlement that stays on my credit report forever. According to the guy I talked to, they report it as "paid in full" so I should be OK there.

So now I dish out another $50/month starting with the December payment and pay it off in March. If you didn't know, this debt started back at the end of 2006 and was around $7000. Yes... that much. And I've been on a payment plan for the last 3 years that has gone up and up in payment amount.... it will really be nice to get this paid off and get that money.

Oh ya... what does this all mean with the new year? I can spend my taxes/bonus on something else.

Sadly, that will probably just be more bills. 🙁

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