Consolidating Credit Card Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $18,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 25% |
| Lender Rate: | 10% | Borrower: | justjen |
| Finished | State: | OH | |
| Funded: | 100% | Group: | Have Money - Will Bid |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-05 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Jun 09, 2007 | Current |
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Purpose of loan: I need to get out of the high interest credit card debt that has taken over my budget. I would use the loan to pay off all three of my credit cards and cut them up for good! My financial situation: I have worked for 10 years as a professional engineer in the State of Ohio. I?m a licensed Civil Engineer with a steady income and occasionally can earn extra for my overtime hours. I am an hourly employee and average 40-45 hours per week. Once in a while I get really busy and I might get 55-60 hours. Anyway, when I initially bought my house (3.5 years ago) I got in that craze for home improvements and charged things that I really couldn?t afford at the time. I thought I could take care of it, but when my boyfriend lost his job and moved in with me it got out of control. I was too nice and took on his problems as my own. As a result, my credit card debt continued to climb and here I am- embarrassed by the situation that I am now in. Unfortunately I don't have much equity in my home so a HELOC really wasn't an option. I?m a responsible person and have good credit, but the high interest rates on the credit cards are making it harder than ever to pay them off. Right now, I have the following credit card debts: Discover Card $1000 CitiCard $5,370 Bank of America $12,256 Total = $18,626 Monthly net income: $ 3400 Monthly expenses (with the Prosper Loan): $ 2627 Housing: $ 1100 Car Insurance: $ 94 Car Payment: $250 Car Gas & Maintenance $250 Utilities: $ 220 Phone, cable, internet: $180 Food, entertainment: $ 400 Clothing, household expenses $50 Other Debts not paid with loan: $83 (SBA Loan- $33 and Education Loan- $50) Which leaves me with roughly $770 to be used for the Prosper Payment and to begin a savings account. That way, I can plan ahead for my home improvements and won?t have to resort to credit card debt ever again! I have learned that no matter how much I want something?unless I can pay for it now, it is worth waiting for. I don?t want to get stressed out every time a new expense comes up! I?m going to be in control and plan ahead! This loan will be my top priority each month. Automatic payments are wonderful things and I will take full advantage of it. I will be on time every month. It is very important to me that my credit rating remains as it is. Now?s the time to get my debt under control and this loan will help me stay focused and accomplish my goal of being free of credit card debt. Thank you for taking the time to view my listing! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 141898 | Goodbye High Interest Credit Cards | AA | $18,500 @ 13% | May 23, 2007 | Withdrawn |
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