Credit card elimination
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,550.00 | Status: | Loan created |
| Grade: | A | DTI: | 37% |
| Lender Rate: | 13% | Borrower: | norwegianinmichigan |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-07-03 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Jul 03, 2007 | Current |
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Purpose of loan: I would like to eliminate a credit card, move to a simple interest loan, and remove the revolving interest component from my budget. This will allow me to pay down the balance a lot more efficiently, and not pay so much interest to the credit card companies. I am planning on moving out of my current apartment within the next 2 years, and need to have a decent down payment at that time. Without all of my debt eliminated, this would not be a financially wise decision to make. The credit card I'm paying off is also the one with the highest APR. My financial situation: I'm a very responsible christian individual with strong ethics and morals. I believe the bible clearly states that all debt should be paid in full, regardless of life events, and removing a credit card from my financial portfolio is a step in the right direction towards better stewardship. Monthly net income: $ 1900 Monthly expenses: $ 1859.69 Medical $50.00 Rent $429.00 Utilities $35.00 Cell Phone $100.00 Phone $25.00 Internet $20.00 Auto insurance $100.00 Auto lease $425.69 Loan $170.00 Gasoline $130.00 Credit Card $100.00 Credit Card $125.00 Credit Card $100.00 Misc. $50.00 Thank you for your time! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 158547 | Credit card elimination | A | $2,550 @ 13% | Jun 26, 2007 | Withdrawn |
| 259394 | Lowering interest rates to accelerate debt repayment | B | $2,200 @ 11% | Jan 03, 2008 | Expired |
| 292905 | Lowering interest rates to accelerate debt repayment | B | $2,000 @ 13% | Mar 13, 2008 | Expired |
| 302841 | Lowering interest rates to accelerate debt repayment | B | $2,350 @ 11% | Apr 01, 2008 | Withdrawn |
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