Consolidating Credit Card debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 42% |
| Lender Rate: | 16% | Borrower: | rdweber |
| Finished | State: | MN | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-07-23 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jul 21, 2007 | Current |
| Feb 23, 2008 | Payoff in progress |
| Mar 01, 2008 | Paid |
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Purpose of loan: I'm consolidating high-interest credit card debt that I incurred while I was in school. I owe: $1600 on my Discover card at 26.99% $5800 on my WaMu Visa at 28.99% $2850 on my Household Bank Visa at 31.99% $1400 on my Amex at 29.99% The total monthly payment on these balances is around $500, which is about $100/month more than I'm anticipating the payment on this loan to be. Therefore, I don't anticipate any problems repaying this loan. My financial situation: I was recently promoted at work, and I recently made my final car payment. I've never missed a payment, and I own my own home. The utilization rate on these cards is KILLING my credit rating, and I'm posting this loan to try to address that problem. Monthly net income: $ 3100 Monthly expenses: $ Housing: $ 1000 Insurance: $ 130 Car expenses: $ 100 (gas) Utilities: $ 80 Phone, cable, internet: $ 50 (work pays for cell phone and broadband internet) Food, entertainment: $ 500 Clothing, household expenses $ 150 Credit cards and other loans: $ 200 (student loans) Other expenses: $ So, total non-credit card monthly payments are about $2200. The payment on this loan should be about $400, which is ~$100 less than I'm paying right now for the card payments that I'm consolidating. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 156980 | Consolidating Credit Card debt | D | $20,000 @ 26% | Jun 23, 2007 | Withdrawn |
| 370550 | MBA Student Seeks Help | B | $15,000 @ 17% | Jul 20, 2008 | Loan created |
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