Paying Off High Interest Credit Cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 69% |
| Lender Rate: | 14% | Borrower: | bigrue |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Craigslisters |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-03-06 | EricsCC ROI: | -30% |
| Status History | |
|---|---|
| Mar 07, 2007 | Current |
| Jun 21, 2008 | Late |
| Jul 09, 2008 | 1 month late |
| Aug 07, 2008 | 2 months late |
| Sep 07, 2008 | 3 months late |
| Oct 07, 2008 | 4+ months late |
| Dec 29, 2008 | Default |
|
Explanation of circumstances:Currently employed full-time in the produce department at Safeway. I have been at Safeway for the past 5 years. I am married w/2 daughters. My wife pays all of the household expenses and I take care of our rent and car note. We rent from my in laws so we only pay $500 per month. We currently own a rental property in California. I will be paying approximately the same amount monthly with a prosper loan with the difference that I will paid off in 3 years. Purpose of Loan: To pay off & consolidate high interest credit accounts. Occupation: Produce Clerk Length of employment: 5 years Current debts: 1) Acct: Chase Interest rate: 20.99% Bal: $5000 2) Acct: BOFA Interest rate: 30.24% Bal: $10,000 3) Acct: Action Card Interest rate: 21.90% Bal: $1250 4) Acct: Wamu Interest rate: 31.00% Bal: $6000 5) Acct: Best Buy Interest rate: 00.00% deferred Bal: $200 Delinquencies: NONE Present Budget Income Full-time job: $2900 net Wife?s Income after deductions: $4500 net Rental income: $2700 Total Household Income: $10,100 Current Expenses Loan/credit card payments:$900 Rent: $500 Mortgage : $2800 Utilities and Gas: $675 wife pays Car Note: $660 Insurance: $300 wife pays Daughter savings: $100 Food: $600 wife pays Total Expenses: $6535 Left Over: $3565 Budget after prosper loan Prosper loan payment $256.59 Credit Cards/loans $575 Rent $500 Mortgage $2800 Car note $660 Daughter Savings $100 Utilities/Food/Insurance $1575-wife pays Total expenses $6466.59 Left over $3633.41 Savings due to prosper loan: $68.41 And High Interest Credit Card Paid off. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 96356 | consolidating all bills | C | $20,000 @ 15% | Feb 09, 2007 | Withdrawn |
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