Changing our Lives and Consolidating Debt; DTI explained
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 81% |
| Lender Rate: | 17% | Borrower: | Crys5683 |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Super Clean Credit |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-02 | EricsCC ROI: | 16% |
| Status History | |
|---|---|
| Apr 02, 2007 | Current |
| Apr 25, 2008 | Payoff in progress |
| Apr 30, 2008 | Paid |
|
First, I want to say thank you for your consideration in giving our family a jump start to financial freedom. My name is Crystal and I am 25. I have been married for 2 1/2 years to a wonderful man, Mike. We are wholeheartedly committed to being completely out of debt, and are willing to make any sacrifice needed in order to make this happen. We had an awakening of sorts and realized we had been living unconsciously; making financial decisions without truly being aware of where our money was going. Now we are on a budget, and have a plan to reduce all of our debt. Because neither one of us had been taught how to handle money, we have made it our mission to learn as much as possible and change our behaviors. Now, we are ready to start paying down the credit card debt. Part of the difficulty is that we have too many revolving lines of credit opened, at high interest rates. In all honesty, our situation is no one's fault but our own. The last two years our debt has doubled because of poor decisions (i.e. my education, transferring balances, furniture). We also had lots of medical bills bc of my pregnancy. Our situation in more detail is as follows. *DTI EXPLAINED* I cannot report my husband's income and this loan will be used to consolidate debt so it is reported twice. My husband is a teacher and brings home $2,600 mthly. I have had my own home-based business since June 05. I grossed 47,702 in 2006. Mthly BRING HOME Income = approx. $5K now Expenses: Housing (incl. util.): $1500 Cars (all expenses): $1250 High Interest Credit Cards: $550 0% CC (s) = $150, will drop to $50 in July Cell Phone: $150 Other (groceries, baby expenses, medical, etc.) : $800 Monthly expenses TOTAL = $4400 Left over after paying off MBNA: $1K We are also planning to sell one car, which is costing $586 each mth. This Loan: MBNA = 13K (min pay. is 400) Extra will go to the remaining 1K in medical bills we have to pay My husband recently took a 2nd job to accelerate our get out of debt plan. This gives us $400 mthly. Also, he was hired 1 week ago as a marketing analyst with an established company, therefore he will be changing professions. His start date is June 4th and new salary is 46K plus 2,300 bonus. Bring Home = 3200. Not only is this a $600 mthly raise, but this also means that for June, July, and August, he will receive his teacher salary, because it is prorated yearly, PLUS his new job salary. For those mths our monthly income will be $8200 Bring Home! This will greatly accelerate our plan! I also mystery shop, sell items on ebay, etc. which I cannot report, but this gives us $150 - $200 mthly on average. We are fully insured (medical, vehicle, etc.) and are current on ALL Bills and always have been. We are honest people who are dependable and would NEVER fault on any debt. This loan will give us that kick-start we need on our path to freedom financially. Please feel free to ask ANY questions as I am an open-book. I sincerely appreciate any consideration you give. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 106868 | Young Family Dedicated to being Debt-Free/DTI Explained | D | $18,000 @ 18% | Mar 05, 2007 | Withdrawn |
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