Looking for Relief
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,050.00 | Status: | Loan created |
| Grade: | D | DTI: | 26% |
| Lender Rate: | 23% | Borrower: | ethornto2346 |
| Finished | State: | OH | |
| Funded: | 100% | Group: | Starting Fresh |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-06 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Jun 09, 2007 | Current |
| Jan 21, 2008 | Late |
| Feb 09, 2008 | Current |
|
Purpose of loan: I'm requesting a loan to pay off some bad debt that I would like to get rid of. I recently graduated college(aprox 2 years ago) and ran into some hard times. I was unable to find a full time job that was going to cover living expenses, as well as my credit cards and student loans. I was sent to collections for one of my credit cards and my Alma-mater received a judgement verdict for outstanding balance that I owed them. Things did turn around as I found an entry level position as an Accountant. I've been employed for about 1 year and 6 months now and currently I'm starting to climb out of the gutter. I've been paying all my bills, including both the collection agency for my credit card and my Alma-mater, but never seem to be able to pay more than the minimum. With this loan I will be able to pay off these two bad debts, as well as a couple of credit cards I have in good standings, and start to get my credit back to what it should be My financial situation: As stated above, I've been employed, with the same employer, for a year and a half now and I'm starting to get back on track. My current debts are as followed: Citi Card: $233 ( $30 a month) Capital One: $886 ($35 a month) Collection Agency/Credit Card: $1351 ($90 a month) Collection Agency/Judgement: $3000 ($200 a month) Student Loans: $32,000 ($262 a month) Dell Finacial Services: $850 ($30 a month) Chrysler Financial: $0 (recently paid off so this wont be an expense) As you can see I'm paying roughly $650 a month on these expenses, and that does not include housing, utilities, food, etc... With this loan I plan on paying off both of my collection accounts (total of $290) a month and my Capital One card ($35). The collection agency for the credit card have recently called me trying to get a settlement amount around $850, so if I could pay them that amount, I should also be able to pay down my Citi card. This is a combine total of $355 a month that I'm currently paying on 4 bills, which I've paid on time. With this loan my monthly payment would be around $200 a month, saving me $155. I will now have extra cash to help pay off the other bills I have thus, eliminating that debt sooner. So there should be no worry about me paying back on time. If there is something I can answer further, please feel free to contact me. I appreciate all the help I can get. Monthly net income: $ 1,800.00 Monthly expenses: $ Housing: $ 263 Insurance: $ 90 Car expenses: $ 50 Utilities: $ 64 Phone, cable, internet: $ 45 Food, entertainment: $ 50 Clothing, household expenses $ 50 Credit cards and other loans: $ 650 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 142756 | Clearing Bad Debt | D | $5,000 @ 20% | May 25, 2007 | Withdrawn |
| 142887 | Clearing Bad Debt | D | $6,000 @ 20% | May 25, 2007 | Withdrawn |
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