Consolidate credit
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 33% |
| Lender Rate: | 13% | Borrower: | carch7 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-05-29 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| May 26, 2007 | Current |
| Apr 13, 2008 | Late |
| Apr 30, 2008 | 1 month late |
| May 10, 2008 | Current |
| May 24, 2008 | Late |
| May 30, 2008 | 1 month late |
| Jun 05, 2008 | Current |
|
Purpose of loan: This Loan is to consolidate my two high interest credit cards and a high interest line of credit. My objective is to be debt free from the revolving credit lines with-in three years. My plan is to separate my business finances from my personal finances. Up to now I have been supporting both my personal and business costs and bills from my personal finances. With this loan, I will effectively be setting up a plan to pay off the accrued credit debt with the final objective to have the debt paid off with-in three years or less. My financial situation: In the last two years, I have started my own Architect business, puchased a new home and recently moved into a new office. These ventures have required the expenditure of my cash reserves as well as using my credit lines to facilitate the tenant improvements for my new office. The consolidation of my credit debts will save me money by introducing a lower interest rate, as well as requiring me to pay of the loan in a shorter period. The loan will require roughly $80-$100 more per month than the credit line payments separately and is easily handle with-in my current budget and will save me money in the long run. With my current project load projecting into the next year, and my plans to expand my business, I feel that my financial situation will only get better as I progress. Monthly net income: $ 8000 Monthly expenses: $ 6200 Housing: $ 3800 Insurance: $ 200 Car expenses: $ 650 Utilities: $ 300 Phone, cable, internet: $ 80 Food, entertainment: $ 500 Clothing, household expenses $ 70 Credit cards and other loans: $ 600 (will pay off with loan) Other expenses: $ 0 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 132323 | Need to consolidate credit | B | $20,000 @ 17% | May 03, 2007 | Withdrawn |
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