Debt Repayment Plan
Updated 2026-03-23 with actual March results
Credit Card Debt (Actual as of late March 2026)
| Card | Balance | APR | Monthly Interest |
|---|---|---|---|
| Amazon | $4,789 | 29.49% | ~$118 |
| Chase | ~$6,951 | 23.49% | ~$136 |
| Citi | ~$4,699 | 18.74% | ~$73 |
| Total | ~$16,439 | ~$327/mo |
The $10,700 lump sum to Chase landed in March, dropping it from $17,998. Total CC debt is down from $27,352 to ~$16,439 — a $10,913 reduction, mostly from the lump sum.
Strategy (Revised)
$10,000 lump sum → ChaseDone ($10,700 applied in March)- Avalanche the rest: Amazon → Chase → Citi
- Split payments around paychecks to maintain cash flow (checking starts each month thin)
Debt-free: August 2026 (5 more months) Estimated total interest remaining: ~$850
What Happened in March
The lump sum landed, but the monthly surplus didn't reach the cards:
- Amazon: only $146 minimum paid (plan called for $3,421)
- Chase: $540 autopay (plan called for $237 minimum — overpaid here)
- Citi: $60 autopay
- Heavy spending month ($13,545): CO trip, elevated dining, education
Month-by-Month Plan (Revised)
Month 1 — April 2026
Amazon payoff — split across two paychecks for cash flow safety.
| Date | Action | Card | Amount |
|---|---|---|---|
| 04/03 | Amazon autopay (minimum) | Amazon | $169 |
| 04/10 | Manual payment after Chris paycheck | Amazon | $2,500 |
| 04/10 | Chase autopay | Chase | $540 |
| 04/13 | Citi autopay | Citi | $60 |
| 04/25 | Final Amazon payment after Chris paycheck | Amazon | ~$2,180 |
| Card | Total Payments | Interest | Balance After |
|---|---|---|---|
| Amazon | ~$4,849 | ~$60 | $0 — PAID OFF |
| Chase | $540 | ~$136 | ~$6,547 |
| Citi | $60 | ~$73 | ~$4,712 |
Remaining monthly surplus after Amazon payoff: redirect to Chase starting May.
Month 2 — May 2026
| Card | Payment | Balance After |
|---|---|---|
| Chase (target) | ~$3,600 | ~$3,075 |
| Citi | $120 (min) | ~$4,666 |
Month 3 — June 2026
No SLUH tuition = $3,300 freed up.
| Card | Payment | Balance After |
|---|---|---|
| Chase | ~$3,135 | $0 — PAID OFF |
| Citi (new target) | ~$3,943 | ~$796 |
Month 4 — July 2026
No SLUH tuition + potentially a 3-paycheck month for Chris.
| Card | Payment | Balance After |
|---|---|---|
| Citi | ~$810 | $0 — ALL CARDS PAID OFF |
Rules During Payoff (Apr–Jul 2026)
- No new credit card charges — use debit only (Amazon had $116 in new charges in March — stop this)
- Minimum payments only on cards you're not targeting
- Split large payments around paycheck dates to avoid overdraft
- If you get a windfall (3-paycheck month, tax refund), throw it at the debt
- Stop using the Amazon card entirely — at 29.49% it should never carry a balance
Other Debt
| Debt | Payment | Notes |
|---|---|---|
| MOHELA (student loans) | $146/mo | Continue minimum during CC payoff |
| Nelnet (student loans) | $379/mo | Continue minimum during CC payoff |
| Wells Fargo (auto loan) | $759/mo | Continue minimum during CC payoff |
After Credit Cards Are Paid Off (Aug 2026+)
Cards gone + no more interest charges = ~$4,100/mo available
| Priority | Amount | Purpose |
|---|---|---|
| Emergency fund | $1,500 | Build to 3 months expenses (~$46K) |
| Extra loan paydown | $1,500 | Accelerate student loan payoff |
| Savings / investments | $1,000 | Retirement, college fund |
| Buffer | $100 | Absorbs overages |
Summary
| Original Plan | Revised (Actual) | |
|---|---|---|
| Lump sum to Chase | $10,000 | $10,700 |
| Months to payoff | 5 (Mar–Jul) | 5 (Apr–Jul) |
| Total interest (est.) | $955 | ~$1,200 |
| Extra interest cost | — | ~$245 |
| Debt-free date | Jul 2026 | Jul 2026 |
Despite the March miss, the summer tuition break and the lump sum being $700 more than planned help recover the timeline. The key risk is another high-spending month pushing things to August.