Eric's Credit Community

Purpose of loan:

The purpose of my loan is to consolidate my credit cards into one manageable, monthly payment and be credit card debt free within three years with your assistance.

When I went to college in 1998, my father told me that not to give in and apply for a credit card. Nine years later, that one credit card has led to a giant snowball of debt. Luckily, I have been able to keep up with my payments as you can see and I have no late payments on my credit report.

With this loan I will be paying off the following cards:

A)Bank of America: $5915.97
B)Citibank: $3427.12
C)USBank: $5458.54
D)Express: $117.13
E)Dillards: $80
F)Gap: $60.95
G)Best Buy: $1832.33
*Note: Balances current as of 5/9/2007.

While the total of A-G is $16892.04, I?m only asking for $16,000 because I will be able to cover the remainder out of my savings.

My financial situation:
I have a stable income that will easily provide the funds to repay the loan. My employer has been in business since 1966 growing from 30 stores when I joined the company, to 72 currently. My position is E-Commerce Merchandising Manager and is in no danger of being phased out as the internet channel proves to be a strong sales channel.

Monthly net income: $2096 (job) + $400 (part-time job) + $300 (roommate)

Monthly expenses (personal):
Housing $525
Insurance $105
Car Payment $370
Utilities $150
Phone, cable, internet $134
Food, Ent., Gas $300
Clothing, household expenses $50
Credit cards $500 (total of min.)
Total $2134