Consolidating Credit Cards
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|Loan Status:||Paid||Origination Date:||2007-07-03||EricsCC ROI:||9%|
|Jun 30, 2007||Current|
|Jul 16, 2010||Payoff in progress|
|Jul 21, 2010||Paid|
Purpose of loan:
Hello. I desperately want to be debt free. I?ve taken out several 0% interest (for a year) credit cards to facilitate this, but I?ve found nothing facile about it. While I can easily make the monthly payment for each, managing all of the due dates (which, sneakily change without warning) on top of my very busy work life is proving to be more of a hassle than a help.
Having one monthy payment is incredibly appealing to me (so much so, that I?ll eat 10+% in interest just for the convenience).
My financial situation:
As you can see from my budget below, I have plenty of extra money each month to pay off my debt. The only blemishes on my credit record are due to forgetfulness and some medical bills. I?ve been working at my company for three years and my financial situation has gotten increasingly more stable.
Monthly expenses: $ 1920
Housing: $ 940
Insurance: $ 0
Car expenses: $ 0
Utilities: $ 20
Phone, cable, internet: $ 30
Food, entertainment: $ 500
Clothing, household expenses $ 300
Credit cards and other loans: $ 80
Other expenses: $ 50
Money Left Over to Pay Prosper Loan: $1330