So, in my last post, JoeTaxpayer mentioned that it’s worth considering taking a loan against your 401k to pay off high-interest rate debt. I took a quick look at that, and it really does look like an appealing option - I could drop ~$10k of my debt down to 6% interest over a 5-year period. [...]

Right now, our payments for our debt is exceeding our income, so we’ve stopped 401k contributions to help make the difference up. However, in a few months, we should be at the point where we can actually afford to make payments within our income. I’ve been debating if it would be wise to start adding [...]

So I’ve talked to two different companies about a Debt Management Plan now. Both companies went over our budget in detail, and did not really find much that needed to change - that’s good news, at least! Interestingly, the first proposal from both companies would actually result in our total monthly payments going slightly higher [...]

So, it’s been a little over a week since we started this site, and I went through and updated all of our balances.. since my original post, we’ve paid most of the monthly bills, and the new balances are below. We’ve paid of over $3,000 in total debt this month!