Trying to settle some old debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 13% |
| Lender Rate: | 17% | Borrower: | JBOOGIE2000 |
| Finished | State: | OH | |
| Funded: | 100% | Group: | Comprehensive Borrower Services (CBS) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-06 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Aug 04, 2007 | Current |
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INTRODUCTION: I have been employed 4 years at a manufacturing company as a welding wire producer. I have a wife of three years and a daughter. PURPOSE OF LOAN: I would like to settle some old credit card debt. These are the last three collections on my credit report. CREDIT HISTORY: I have worked hard to improve my credit by paying off other creditors and raising my score from 500 to mid 600?s to complete this mission I need to pay off my last three collections. I was not able to pay these three accounts earlier because of mother passing in December and her life insurance lapsing causing me to cover the balance of the funeral. Let me explain some things on my credit report. I have 10 inquiries in the last 6 months this is the result of trying to refi my vehicle, the collectors pulling my report and a mortgage pre-approval app. I also, have a judgment from 2002 that is being contested because of improper service I did not live at the address that it was served to. Why did it take so long to contest it? I found out about it 2 years after and did not know how to address it now I am preparing my motion paperwork. If the motion does not work I plan on paying it off. BUDGET: I currently make 35k to 40k a year which adds up to 50k to 60k with my bonus. My wife makes 30k per year. GROSS 3500/MTH TAKE HOME 2450.00/MTH WIFE 1500/MTH Mortgage/rent: $600 Insurance: $ 100 Car expenses: $ 300 Gas: $150 Utilities: $150 Phone, cable, internet: FREE (wife?s employer) Food, entertainment: 200 Clothing, household expenses $ 100 Credit cards and other loan payments: $ 250 Other expenses: $ 200 Savings:$100 Discretionary spending: $120 PROSPER LOAN: $120 Property taxes $60/mth TOTAL $2450 ASSETS: 401K $5K 1996 NISSAN SENTRA $2k RESIDENTIAL LOT $14k SAVINGS: $1.4K Paying the loan back: I will be paying the loan back with my bonus in December but, I have included data to show I can pay the loan without the bonus or wife?s 30K income. |
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