Debt Discovery: The Ties That Binder

by Jabulani Leffall on 2 March 2008 14 comments

Going shopping isn’t the first thing that should come to mind when you’re shoveling yourself out of debt but that’s exactly what you should do. Take a trip to your local stationary store and buy a three ring binder and some file folders with labels. Then order your credit report online or via snail mail from Equifax, Trans Union, Experian, TRW and/or FreeCreditReport.com and go down your list of payables.

Make sure you actually owe what they say you owe by cross referencing the lists with your bill notices. Match the bill notices to each delinquent account and place them in the folder. Then prioritize what you think you should pay either by collection amount, urgency of debt, or ability to pay. Keep a separate file for what debt counselers call “silly balances,” which include late phone bills, overdue library books, and magazine subscription payments and bank overdraft charges – all of which are usually under $100 and be paid off quickly thus doing wonders in cleaning up your credit really fast. Sounds like a lot of work but it will pay off once you see what your total liability is.

It may even surprise you in that it’s less than you thought. Once you match that number against what your regular monthly expenses are and what your monthly take home pay is, you can make a realistic assessment of how soon you can be debt free. These are the tenets of Glinda Bridgeforth, one of the purveyors of Oprah Winfrey’s “Debt Diet.” Program. According to Bridgeforth, author of the book “Girl Get Your Money Right,” one should almost never refinance to pay down debt. And if you need help getting organized, an adviser or money coach can walk you through this process.

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KyLydia

And where does the three-ring binder come in, or did I just not comprehend something I read?

Jabulani Leffall's picture

Hello Lydia,

 The three-ring binder is used to house all of your debt info and organize your files. Says so right here: "Take a trip to your local stationary store and buy a three ring binder and some file folders with labels........" 

 

 

Jabulani Leffall

Monetary Gadfly, Common Currency

00000 Broke Blvd. Kitchenette #68 & 1/2

Lowcash, CA 90000-0000

Guest's picture
Guest

ahem, "freecreditreport.com"? i should HOPE you mean annualcreditreport.com

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Guest

Good blog, but that's not why I'm here.
I've changed my mind. Contact me.

Jabulani Leffall's picture

If you know me, you know you've created a curiousity monster. If you know me, you know that I've narrowed you down and have a good idea of who you are. What keeps me in suspense is why? Why now? Why here? If you know me you know that I already know the answer to the question Why me? LOL:) That address is actually mywallst.net if you want to take this somewhere that doesn't actually pay me to be on it.

Someday

 

Jabulani Leffall

Monetary Gadfly, Common Currency

00000 Broke Blvd. Kitchenette #68 & 1/2

Lowcash, CA 90000-0000

Jabulani Leffall's picture

March 5 was almost a month ago boo. Well you must know me well because you know I dig this type of stuff. Still. This is intriguing and if you know me, which to reiterate you probably do, and if you sent the message about still loving me, which you probably did, just slide me a hint, a vague insider brain teaser that only I would know. Other wise, you should contact ME! LOL:) 

 

 

Jabulani Leffall

Monetary Gadfly, Common Currency

00000 Broke Blvd. Kitchenette #68 & 1/2

Lowcash, CA 90000-0000

Guest's picture
Guest

I doubt you know who I am.
If you did, you would have contacted me.

Guest's picture
Guest

Contact you? What so you could have pretended it wasn't you. No, no baby girl. You can only be that person I'm thinking of and I don't bust you out here because again, this is a place of business and heck I'm the one exposed. You know that there were many and you know that there were few but YOU stand alone. You and I shared something wierd, and exilerating and sporadic and intense, tragic and draining. I still, as I did then, consider myself a student of human traits. Only YOU would contact me in an anoymous manner like this. I've been tempted to contact you many times, you're actually in my e-mail address book and every time I type a certain letter your name comes up and I pause and think whether or not it's a good idea. I'll ALWAYS love you. No matter who you were/are with or what you think of me. FYI and RE: Not contacting you. If you know me, you know that I might, in my oft cynical and worst-case scenario mind set, be inclined to think that if I did contact you, you'd maybe downplay this and to reiterate, pretend as you did in the past that you were OVER me or beyond me or that you evolved from caring about me AND THAT IT WASN'T "You" sending these cryptic, duplicitous, "I still love you, don't you know?/ make an effort and come-and-get-me messages and that you'd never stoop to such a thing or hide behind a "Guest" profile. You know that's true and I ain't even mad at you, Hell I love it and you know I love it because you know me. But let me ask you something sweets: What are you hiding from? What are you afraid of being exposed or what vulnerable point are you covering up that I haven't already in someway seen? I'm a sure man, to be correct but I've never let pride get in the way of something I wanted to do. Can you say the same? This is not to be malicious. Life is short, I want to know you again. PERIOD. Who cares where it does or doesn't go. But you and I both know it's unfair for you to decide to come in and out of my life whenever you feel like it, just like you've accused me of doing in times past.

Guest's picture
Guest

You're not coming up on search. Poke me.

Guest's picture
Guest

I must not be who you think I am then.

Guest's picture
Guest

WOWWWWWWWWWWWWW,You like it and I like it. Isn't that right? I always liked that about you, you want it YOUR way, NOW. This is why you persist (grin). No, i'm afraid it's so very obvious sweetie but don't blame me blame the IT staff at facebook. Sometimes these searches just don't show up, sometimes names (clearing throat) appear without pictures. Whereas there is only one of me on Facebook and in general LOL:) Why you gotta tease a bruva (smile) just poke me and I promise I'll be gentle, respectful, unpersumptious non-punitive. Better yet, go to mywallst.net and you can stay anonymous, you don't have to put up your screen name or your real name. Know this, I assure you I'm not fishing. I have a memory like an "elephant."

Let me reiterate: "Life is short, I want to know you again. PERIOD. Who cares where it does or doesn't go this time. But you and I both know it's unfair for you to decide to come in and out of my life whenever you feel like it, just like you've accused me of doing in times past."

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Guest

I'm not trying to be cryptic and turn this into a game of cat and mouse.
I was curious about you so I googled you and I saw this very well written blog. I'm sorry, I know this is a place of business for you, and I won't write on here again.

I did not come here to drudge up things of the past. This is all so silly, and yes I'm sure I'm the person you are thinking of. If not then so be it!
By the way, I have a new last name on facebook. It's hyphenated. Go Obama.

Guest's picture
Guest

I'll say it again, you're still in my thoughts and in the drag down menu on my e-mail account. I want to tell you about new developments, talk about world events, upcoming travel, coffee, Kwame Kilpatrick and Obama, so much to talk about there, I know for a fact you're a big Fan. I know you were once a fan of Bill Clinton too.

RE: YOU! There were no other possibilities at all. Like you used to say "COME ON!" Of course you name is hyphenated! Did your friend tell you I saw her about a year ago and that I asked about you and she told me what you were up to, most of which I already knew from surfing the net over several years. I just want to know you again. And I'll say this here, I don't care who sees it: As far as the full package, no one has ever come close. Anyway, we're both grown and we're both busy. Let me put it out there. Would you like to talk every once and while, correspond, of course not here, and keep it decent. I understand if you don't but I could use someone in my life right now who really knows me.

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Guest

Ok, I poked you on facebook. Let's end this exchange on here.