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Blog of the Week – No. 74
By JLP | April 14, 2007
The first EVER Blog of the Week with pictures!
Meet Basil and Bianca Bizarro:
Handsome couple, eh?
I found their blog, The Bizarro World Debt Elimination Freakshow last week when Basil left a comment about his garage sale experience. It cracked me up so I decided to check out his blog. This is some great stuff! I love the honesty of this blog (even though they are blogging anonymously). They had over $33,000 in credit card debt and now it is down to $19,000. Their blog is their tale about paying off the rest.
Topics: Uncategorized | 2 Comments »
April 15th, 2007 at 2:52 am
My Gosh, I hope that sort of debt credit card debt is not Toooo unusual. I used credit cards to fund my company. Now it has colapsed. I owe about 50K to credit card companies– seems a plausable amount to pay off.
April 15th, 2007 at 8:46 am
I think its important to look beyond just the size of a debt and consider the cost of the debit as well to determine the severity. The impact on cash flow to pay a $33,000 at 18% in 20 years is almost the same as paying a $50,000 at 8% over the same time frame. The balance only tells part of the story.