Debt Report Sept. 2007
Debts paid in full: 3
Amount paid in full: $2176
September payments (so far): $495
Total amount of payments made to date: $3796
Next debt in line: at&t advertising and publishing: $1355
(They’re tacking on a late fee for lack of on-time payment, and I finally got the bill for the last month on my contract. This one will stop going up and start going down pretty fast).
Debts left to pay off: 13
Current Debt Balance: $160,293
Balance change since last month: $827 (decrease)
Balance change since starting the plan (April 2007): -$1,333 (increase)
At least there was some real progress on my total balance this month, but it didn’t have to do with my payments. One of my creditors took my debt case to binding arbitration, and the amount I owe was reduced by about $2000. They’ve either stopped charging me interest, or haven’t figured it based on the arbitration settlement. Time will tell. The interest charges will overtake my total payments and increase my total balance again if I don’t get a break on them. I’ve asked for interest relief 3 months in a row in writing, and I’ve gotten one creditor to do something about it. Five of my 13 creditors are still charging interest at 15% – 33% APR. It’s legal robbery.
I’m continuing to pay my creditors on a pro rata basis, except at&t advertising. Any extra money I get is going to at&t advertising to get my snowball to roll over. When that debt is paid off, I’ll assess my total income available to pay debts and recalculate my pro rata payments.
My debt payment problems are still a direct function of my income, and I’m working on that as fast as I can. Today is day two of making $10/day every day this month. I didn’t make my $10 on Sept. 1, and will have to get cracking to make $10 today and make up for yesterday.
The Thirty Day Challenge is over and I didn’t make my $10 within the challenge, but I have a lot of potential and knowledge to get everything I learned to start making me passive income. As I keep working on it and coming up with better niches and better affiliate products, I should see some momentum build and some money start to come in from my work over the past 10 days. I would say the past month, but we spent the first 15 days of the challenge learning how to do niche market research properly (to avoid as much risk as possible) and didn’t actually get content and links to an affiliate out there until the 16th – 20th of August. Please read my 30DC blog for details.
There were set backs that really hurt a lot of us, and I made some big mistakes that I’ve corrected and learned from. It will take time for the corrections to make there way onto Google and get me a higher page rank for my niche sites.
Spam on the internet, whether email or in internet marketing, is causing a lot of road blocks to earning income. A lot of the free hosting sites are getting so tight with rules and numbers of back links that you can’t hardly point to a non-monetized blog more than once without getting slapped, let alone a blog with a link to an affiliate product. But, with my current income situation, I’m staying with free hosting until I can make enough to cover paying for my own sites. Then some of those problems will go away. I also have several techniques to grow my niche clusters that I haven’t had time to implement. We learned so much during the last week of the challenge that I’m still running to catch up.
The great news is the Thirty Day Challenge will now be an on-going event. Training will be updated when there is a significant change in the process we use. We’ll all be updated and can continue to participate and learn from the ongoing challenge. So if you were even a little interested, it’s still available, 100% free internet marketing training for beginners that really works. Just go to www.thirtydaychallenge.com and sign up.
