Happy Dance #1

Our Line of Credit is “paid off”! I say “paid off”, because I think I’ll owe them about 6 cents on our next statement. I sent in the payoff amount, but marked it as “extra principal payment” so it didn’t show as paying off the loan. The principal balance is a negative value equal to the interest currently on the loan. The nice lady at PNC offered to fix it for me, but the new statement should be generating in the next few days, so I’ll just wait for that and whatever we owe will be auto-debited in May (or I can go in online and pay it early – by checking the “apply to next payment” option this time!).

Now, on to the next debt: student loans.  There are three student loans, ~$3k at 2.14% and two (about $10k) at 6.55%.  I’m going to explicitly send in extra money and have it applied to the higher interest rate loans first, and those should be paid off in about 5-6 months.


Tell me your thoughts