Consolidating Two High Interest Credit Cards from B of A
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|Funded:||100%||Group:||New Day Rising Loans|
|Loan Status:||Paid||Origination Date:||2007-05-09||EricsCC ROI:||13%|
|May 09, 2007||Current|
|Feb 24, 2010||Payoff in progress|
|Mar 10, 2010||Paid|
Purpose of loan:
I would like to have a loan to help pay down my credit card debt. Two credit cards have recently received interest rate increases (23.99% and 27.99%) from Bank of America, which carry most of my debt. I can still handle these two cards' interest rates and my monthly expenses, but I would like to pay off my debt sooner.
My financial situation:
As a recent college graduate, I have accumulated much debt on my journey towards a B.A. However, I have only made a late payment once since beginning my credit history five years ago. In that instance, I was out of the country for a month and my check payment never made it through the mail. I have always been a strong financial manager even when I worked part-time.
Currently, I am a team member at Target. I have been employed with them for over 3 years and have taken two promotions. I receive a guaranteed pay increase in May. In addition, I am eligible for another promotion from my current position when my one year commitment expires in June.
I live with my parents but there is no rush from them to find my own place. I have no plans on moving until I feel I can sufficiently handle those additional expenses.
My monthly budget:
Mortgage/rent: $ 0 (Live with Parents)
Insurance: $ 0 (Paid by Parents)
Car expenses: $ 0 (Hold Title to two cars and are completely owned by myself)
Phone, cable, internet: $ 125
Food, entertainment: Approx. $ 100
Clothing, household expenses $ 100
Credit cards and other loan payments: $ 588 after consolidation not including repayment of Prosper loan, $ 900 after Prosper loan (Parents contribute $ 150/mo. towards federal student loans)
Other expenses: $ 200 for savings
Total monthly expenses: $ 1113; $ 1425 with Prosper loan
More about me:
I have a B.A. in Political Science and have plans to attend law school once I've paid off my debts and gained work experience.
|Borrower's Other Listings|
|127193||Consolidating Two High Interest Credit Cards from B of A||B||$9,000 @ 14%||Apr 22, 2007||Withdrawn|
|538213||Coffee Equipment for Startup||E||$7,500 @ 32%||Nov 09, 2011||Withdrawn|
|539524||Coffee Equipment for Startup||E||$7,500 @ 32%||Nov 16, 2011||Loan created|