Not counting our mortgage debt, things aren't looking too pretty:
Account | Amount |
Credit Card | $1,414 |
401(k) Loan #1 | $12,906 |
401(k) Loan #2 | $4,800 |
Total | $19,120 |
Both of the 401(k) loans are being paid off according to schedule, and if we don't pay anything off early, we'll be debt-free some time in 2009. If this "life changing" job turns out really to be as profound as our client says, then perhaps we'll be able to get things paid off early.
The last time we had a positive net worth was over two years ago, when we were working a big job for a client. It was steady work, and we were getting paid. Unfortunately, our client was mismanaging money he'd received from his customer, and in the end he stopped paying us for our work. He kept promising to pay, and didn't. Ultimately, we got ripped off for $14,000 by this guy.
We've really been scrambling, financially, ever since. I hope the tide changes, soon!
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