Payoff Credit Cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 15% |
| Lender Rate: | 9% | Borrower: | bcumings |
| Finished | State: | WI | |
| Funded: | 100% | Group: | Not Active |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-01 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Aug 01, 2007 | Current |
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Purpose of loan: I will be using this loan to pay off my credit cards, and to purchase an engagement ring. In order for me to get married, I absolutely want to get myself debt free. I want to start a new life with limited debt. As soon as I am funded, I plan on placing my credit cards into a safety deposit box so that I do not use them unless it is an emergency. My financial situation: I have always paid back my loans. Generally, earlier than required. I need to have a constant and realistic payment, as the credit card companies will have me paying for ever with the minimums they require on a monthly basis. I have a very good job, and really desire to be debt free. I have extra money every month, and put at least $300/month in my savings account. I honestly believe that I have a better than A credit rating, and I suspect it is at this level due to my decreasing the credit limits on all my credit cards. I had $20000 on one card, $23000 on another, and I was bumped up to $10000 on my third. The first card I moved down to $2000, as it was a retail card with no finance charges for one year. I will be paying that off before the end of the no financing terms. The second card is now at $8000 limit, and the third is at $7500 limit. Maybe I was incorrect in forcing them to drop my credit limits, but it gives me a reasonably limit. If I see I have $23000 limit, I might just spend more. Just what the credit card industry wants. I'm looking to make myself debt free (outside of those pesky student loans). I fund my retirement at 10% of salary, and want to retire early. By taking the loan here, I will be able to know how much I owe, and budget for it better. Mostly because I don't want to make my groups rating go down, and because I always pay back my debts. Monthly net income: $3232 Monthly expenses: $ Housing: $740 Insurance: $75 Car expenses: $0 payments and about $100 in gas/maintenance Utilities: $50 Phone, cable, internet: $100 Food, entertainment: $300 Clothing, household expenses $100 Credit cards and other loans: $675 Other expenses: $200 |
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