To Help My Son Get Ahead In Life :-)

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Listing Information
Amount: $7,500.00 Status: Loan created
Grade: D DTI: 50%
Lender Rate: 21% Borrower: STEWJILL1
Time Left: Finished State: WA
Funded: 100% Group: BORROWERS - Free instant Listings - LARGEST GROUP
Loan Information
Loan Status: Current Origination Date: 2007-04-16 EricsCC ROI: 16%
Status History
Apr 14, 2007 Current
Information about me and my family 

Hi, I am a mother of two adventurous, hardworking, ambitious kids. I am requesting this money to help out my son, Stephen. He has a high interest car loan (that I cosigned for), and has recently purchased part of a business.  He is working really hard, is 22 years old, owns part of his own business (Jersey Mike?s Subs), works about 50-60 hours a week, and really wants to get ahead. Stephen would like to consolidate his credit union loan and pay down part of his car loan so he may refinance through the credit union and get a lower interest rate.  He does not have any credit of his own to speak of now, and I thought this would really be helpful for him, after receiving this to help him out he can get his car loan refinanced in his own name! :)  Thanks for your consideration, I really appreciate it.  We do not have much, but have always tried to help out our children when possible and they are both very goal oriented and hard working.  

Monthly Financial details  

Net income: $2300/month
Medical: $50
Insurance: $200
Rent: $550
Credit cards: $150/month
Personal loan: $150 Food/gas: $350
Utilities (cable, phone, gas, electric, w/s/g): $350 = $1800  

Use of funds

What my son is going to do with this loan:
Completely pay off his personal loan through credit union (which he used to purchase part of his business): $3,890
Large portion of car loan so he can refinance at lower rate later: $3,610  
Borrower's Other Listings
116893 To Help Son Get Ahead In Life D $7,500 @ 19% Mar 29, 2007 Withdrawn
246784 ***CLEAN SLATE*** E $10,000 @ 24% Dec 07, 2007 Withdrawn

 

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