What About Bob!

Hi – Thanks for dropping by my website!

I’m one example of making the best of a debt situation, and my hope is that this blog and website will attract other visitors who will give similar testimonies and let us all know about ways that they’ve found to get out of debt as quickly as possible (within the bounds of the law, of course).

My name is Bob Lormor, and (probably) like you I have loads of credit card debt. If you own a house, then you understand that hefty expenses can come out of nowhere. If it isn’t a new roof, then it’s a new furnace or a new water heater, or SOMETHING.

Well in 2008, for my wife and I, it was a dire need to have our basement waterproofed. The basement was developing mold and the foundation was beginning to buckle from moisture. We had no idea the day before we had a waterproofing inspector come by to do an assessment that we would be spending $12,000 (initially on a 10 year loan!!!) to have our basement waterproofed. …YIKES!!!

$16,000 of Credit Card Debt!

So at that point, with $4000 of preexisting credit card debt added to this home improvement debt, we’re talking about $16,000 and combined minimum monthly payments of about $400. That was a severe assault on our monthly budget at times. That was a year and a half ago (at the time of this posting), and since then I’ve been able to take my good credit rating and use a credit card promotional offer that I received in the mail to do a debt transfer from two different sources and a 10% and 13% respective APR down to my present 3.9% APR (good until paid off), which I feel pretty good about. Not only is the interest rate considerably less, but I’m making one payment which, if I wanted to pay the minimum during lean months, is less than <strong>half</strong> of what I was paying for the two monthly bills initially. And with paying a little more than the minimum, I’ve chopped close to $6000 off my debt so far (as of this post), and on par to be credit card debt free in about 3 years instead of 10 (knock on wood)!

Let’s Arm Each Other with

Powerful Debt Busting

Information!

The purpose of this website and blog is to provide debt information PLUS information from <strong>YOU </strong> ,the reader, so that we can help each other out with information about debt strategies and principles that we we’ve used or that we know about. Did those strategies work for you? Did they not work for you? Do you know about one program or law that the rest of us didn’t know about? Let us all know so that together, we can hopefully arm one another with the best possible information for <strong>GETTING OUT OF DEBT, TOGETHER!</strong>

I hope you find the information here useful.

Disclaimer – Remember that the information on this website/blog is by no means official information. While we attempt to be as accurate as possible, the content is largely opinion and entertainment based and should not be confused with official legal or financial advice. If you need help with credit card debt relief, you should seek the advice of a reputable and professional debt counselor.