What we call the “Little Chase” because it was the lower balance of the two Chase accounts with a balance of $7512.40, when we started using the snowball chart in June of 2012 (3 full years into the DR plan for us, so you can imagine how much higher it was in the beginning) Even at $214 payment a month with zero interest it has been a long road to get rid of it. But it is GONE forever.
I also applied $500 to our next bill in the snowball today. It is what is called the big BOA because in June of 2012 it was the higher of the two BOA with a balance of $7677.81 and even with making $250 a month payments on it the decent of the balance has been slow because we are paying interest on that account. If all goes to plan within 30 days the remaining $1300 on this account will be history as well. Wish us luck!.
Including today’s Chase pay off we have lowered our monthly minimum debt payments nearly $900 a month. It’s taken us five years to get here, but it sure is a good feeling to know that much is paid for in full and gone forever.