Lower interest consolidating
| Listing Information | |||
|---|---|---|---|
| Amount: | $20,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 49% |
| Lender Rate: | 11% | Borrower: | debt_no_more |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Lend2's Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-04-18 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Apr 18, 2007 | Current |
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Thank you for taking the time to read our loan request! We both currently work in retail, where we?ve worked for the same companies for nearly 7 and 10 years respectively. Additionally, I am currently waiting to start an electrical apprenticeship program and my spouse is applying for librarian positions after recently receiving the prerequisite Master of Library Science degree. We've been together for nearly 13 years and we?ve always paid off all our credit card bills every month, even when we got married, with all the bills that created, but last year a combination of unexpected medical, dental, and car repair bills resulted in larger credit card bills than we could pay off completely. An obligation to go on an out of state family trip to celebrate the 21st birthday of my sister who we nearly lost in a car accident a few years earlier added to the debt. Then some admitted over spending during the holidays, which we felt we'd earned since my spouse finally finished the master's degree and I?d applied for the apprenticeship, further increased the size of our credit card bills. Our current combined income is in excess of $65K a year and will be increasing significantly when our career changes are finalized. Our actual debt on a couple of credit cards is currently about $17K, but we've been putting off a couple of larger purchases, replacing a couch & major dental work, which is why we are asking for $20K. That amount should get us completely out of credit card debt and allow us to take care of a few things without relying on our credit cards. Specific debts to be paid off include: - VISA/Bank of America / Total Owed: approx. $12K / Interest: 19% - VISA/Washington Mutual / Total Owed: approx. $5K / Interest: 20% Our (2 person) take-home income per month over the past 6-12 months has ranged from $3100-$3900 or more. Once pending promotions and career changes take effect (likely to happen in the next 3-12 months) this amount will increase by at least $500-$1500 per month. Monthly bills ? for 2 people Rent $1200 (the going rate for a 1BR apartment in the San Francisco Bay area) Auto loan $380 Insurance $140 Utilities $200 Food/Misc $430 -------------------- $2350 Leftover ? at least $750 / month, usually more We have been paying at least $1000 a month, often significantly more, toward our credit card bills, but with their interest rates we aren?t making a lot of progress. Loan payments in the $650-$750 (or less) range for a finite period of time would therefore be much easier on our budget. Our credit rating reflects the fact that we never miss a payment and often find ways of paying things off early. We know we went a little overboard, but we are ready to pay the price and do the responsible thing to get this under control before any more time passes. Thank you for taking the time to consider our request! Please let us know if we can answer any questions |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 112170 | Pay off & get rid of credit cards | AA | $20,000 @ 10% | Mar 16, 2007 | Withdrawn |
| 113578 | Consolidating bills at lower interest rate | AA | $20,000 @ 12% | Mar 20, 2007 | Withdrawn |
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