Pay off high-interest credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $14,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 38% |
| Lender Rate: | 11% | Borrower: | Rusty3 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-20 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Aug 27, 2007 | Current |
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Purpose of loan: I'm looking to consolidate high-interest credit card debt into a lower fixed rate loan. My bills are always current, with an excellent credit rating. Most of this debt is due to some unforeseen problems during the remodeling of the home I purchased. There were some issues that only became apparent after walls were opened up. The east wall had large amount of rot damage due to termites and had to be repaired. Also, all of the electrical needed to be update to handle the load that today?s appliances demand. Since the remodeling has been completed, I will not be incurring any additional debt. I am simply consolidating these two credit cards to get a lower rate and a faster payoff. My financial situation: I am a professional photographer currently employed with one of the major commercial studios in Los Angeles. I also work as a freelance photographer with in-house accounts with Toyota and Hyundai Motor America. My freelance work is starting to gain momentum and I expect to be fully self-employed within the next five years. I am also the care provider for a very lovely woman who is brain injured. From this I earn a modest amount of money, which adds to my income as a photographer. Monthly net income: $ $5000 Monthly expenses: $ Mortgage: $2757 Home Equity Loan: $488 Auto Insurance: $140 (2 cars) Cell phone: $100 Food: $375.00 (We seldom go out to dine) Car Loan: 2 cars both paid in full Utilities/Water/Cable: $73 2 Bank of America Cards: (totaling $14500.00 and to be paid with proposed loan): ? Capital One Card: (totaling $10,500) $300 Cable TV/Internet: $110 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 181778 | Pay off high-interest credit cards | AA | $14,500 @ 17% | Aug 04, 2007 | Withdrawn |
| 354363 | Upgrade Computer For My Photography Business | AA | $2,500 @ 8% | Jun 20, 2008 | Loan created |
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