Paying down balance on credit cards to increase my score
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 17% |
| Lender Rate: | 18% | Borrower: | rbjtools |
| Finished | State: | UT | |
| Funded: | 100% | Group: | GROUP CLOSED |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-01 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jun 01, 2007 | Current |
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Purpose of loan: To pay off my credit cards to help increase my credit score for investment opportunities. My financial situation: 6 months ago I had B credit. I had purchased car a year ago of which I had an A before that. Recently I had a order from ORS(Offices of recovery services used to collect child support) for a paternity test so the childs stepfather could adopt. As soon as paternity was established, ORS put in an order for me to pay child support, and at the same time put in a judgment on my credit along with about 5-6 different collection orders. One for each month they collected CS. The CS order has now been canceled. This only went on for 6 months, as it was only used for the adoption processes. The mother and step father didn't even want the money, but now I am stuck for the next 7 years with a judgment, I don't see how ORS has the right to do this and I will be getting a lawyer to try to get it removed. Also, do to the CS I had to re-arrange my finances which forced me to pretty much max out my credit cards which further decreased my score. Now that I am no longer paying CS, my NET income has increased $800 a month, since that is how much I was paying. Anyone who is intersted, I can show them the judgment, and how it has NOTHING to do with my financial stability. Monthly net income: $5100 Monthly expenses: $ Housing: $1400 Insurance: $100 Car expenses: $250 Utilities: $ 200 Phone, cable, internet: $ 200 Food, entertainment: $ 300 Clothing, household expenses $100 Credit cards and other loans: $ 400 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 138314 | Paying down balance on credit cards to increase my score | D | $7,000 @ 16% | May 16, 2007 | Withdrawn |
| 138976 | Paying down balance on credit cards to increase my score | D | $8,000 @ 23% | May 17, 2007 | Withdrawn |
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