Welcome to the forum!
I must admit that I am very confused by your post.
***Understandable. Sometimes I do not express myself well. I have ADD (seriously, I take medicine for it and have for the last five years now). I usually type as fast as I can so I can move on to another project (lesson plans, clean up my pig-pen room, spend time with my family, etc).
If you spend $350 more per month than you earn, how will you come up with over $11000 per year to pay toward debt?
***Good point. Let me try to clarify and correct my thoughts:
***I revised it down to 7,4k per year that I could pay towards debt. My wife rightly corrected me down even further tonight. With my salary, and the little bit she makes, plus a tax refund - we could send about 5,5k per year. And hence have the 30k amount paid off in about six years.
***The '350 more per month than I earned' was being covered by my SAVINGS. However, I can play that game no longer, as I have exhausted my savings. So, now we will try to make up that 350 with the wife picking up a few more part time jobs, and with us watching/trimming our spending.
If you CAN find that kind of money it would be fantastic and I think you could be in a very good position in just 3 years as you say.
There are many people on this forum that will help you figure this out. We'll help you make your dream a reality if you can stick with it.
****Thank you for your kind and encouraging words. I appreciate it very much.
That is all for now.
Again, thank you. I am a bit more hopeful now. What a nice and helpful community!
My suggestion would be to make yourself a detailed budget and post it here for people to comment on and help you find other ways to save. You should also reduce your withholdings as soon as possible by submitting a new W4. You should be able to do that tomorrow. It sounds like you ought to be able to come out even with 4, 5 or even 6 exemptions (3 children, wife, and mortgage). That will give you more take home every month to apply to debt. If you do it now you will still have put in enough this year to get a refund in April that you can apply to debt but you probably will no longer get a big refund starting in April 2014.