Pay Off Credit Card
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 10,000% |
| Lender Rate: | 13% | Borrower: | scotthpsp |
| Finished | State: | CO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-05-09 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| May 09, 2007 | Current |
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Purpose of loan: I have a credit card that the low interest balance transfer period has expired. The interest rate has gone from 3% to 22%, so I want to pay if off. My financial situation: I'm a computer programmer with about 12 years of work experience. I have been in my present position as VP of development for the past 6 months, with an annual salary of $60,000. I have a lot of equity built up in my home, and my only debts are the home mortgage and credit cards. The credit cards ( other than the one I intend to pay off) have an average interest rate of 5% until payed off. My monthly budget: Mortgage/rent: $1,190 Health Insurance: $235 Car expenses: $70 Utilities: $250 Food, entertainment: $100 Clothing, household expenses $100 Credit cards and other loan payments: $1,180 Other expenses: $100 --------------------------------------- Total monthly expenses: $3,225 Net take home pay: $3,638 Income after expenses: $413 Debt: Mortgage: $63,645 Credit Cards: $56,454 (including card to pay off) --------------------------------------- Total Debt: $120,099 Equity: Home: ~$110,000 Retirement: $36,076 (after penalties) Life Insurance Cash Value: $7,903 Stock: $4,200 --------------------------------------- Total Equity: $158,179 I don't have my 2006 taxes done yet so I was not able to list my income as verifiable. |
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