Light at the end of the tunnel...
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 14% |
| Lender Rate: | 20% | Borrower: | Jbubp519 |
| Finished | State: | MO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-27 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jun 28, 2007 | Current |
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Purpose of loan: I wish to pay off the accumulated debt of 6 loans/credit cards and 1 collection account at a lower monthly payment while increasing my credit score. CC# 1: $485 Monthly Payment $30 CC# 2: $4493 Monthly Payment: $250 CC# 3: $298 Monthly Payment: $30 CC# 4: $295 Monthly Payment: $25 Loan# 1: $805 Monthly Payment: $100 Loan# 2: $ 248 Monthly Payment: $76 Collection#1: $835 Total in Bills: $7459 Total Current Monthly Payment $511 My financial situation: Like many good hard working families, my wife and I have tried to do things the right way. Much of the debt you see before you goes back to the early days when my wife and I were trying to finish getting me through college while raising two kids. To give you a little personal background about myself and my wife, I've worked in the IS department of a major health-care provider for the past 5 ½ years. My wife has been with her company for the past 1 ½ years. We would like a chance to clear our debt out and start over. Like many people, we've made the budgets, laid out grocery and gas money, and had what we thought was ?the perfect budget? to get everything paid down. What we didn't see coming were all the things you don't plan for. And every time we'd start to make a little dent, we'd have to hit the credit cards to pay for an unexpected expense. Monthly gross income: $4277 Monthly expenses: $ 2963 Mortgage: $824 CC & Loans: $511 Monthly Groceries: $450 Monthly Gas: $225 (My wife works from home which helps, but I drive my Chevy Metro Lsi about 80 miles round trip per day) House Gas: $83 Electric: $75 Cell Phone: $65 Home Phone $45 Car Pymt: $331 ( this payment is only for one car; mine is paid off, thank goodness) Car Ins. $119 Water $75 Cable $75 School Payment $85 You might be asking how this loan will help us. Well, it would help us in so many ways: #1: Currently we pay $511 per month for the loans & credit cards listed above. With this loan, the minimum I would pay all of you back would be $278 per month. That alone will save me $233 per month. My loans are always paid on time. The main reason why they never go down, is because we try to overextend ourselves by doubling one or two credit card payments, but then, an automobile repair would come up for $200. Then we'd have to use the money we just sent in to repair my car. We get caught in that vicious cycle. #2: Credit Score. Do I need to say more? That money would go to the 6 credit cards/loans which will increase my score. It will also take care of the collection I have for my children's dental bill. #3: Peace of mind. With this debt, my wife and I can throw away 3 of those credit cards and only have one set aside for those emergencies until we can build up a savings account. The feeling of not having to go, ?we just made a double payment on these two cards, i guess we can use both of those to pay off this?. That would be such a great feeling. My wife and I would be greatly appreciative if you would consider helping us out. We are tired of taking 2 steps forward then taking 3 steps back. We will 100% pay this back and we thank you. |
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