Taking care of credit card debt (and it's about time). : )
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 25% |
| Lender Rate: | 15% | Borrower: | Esq |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-08-30 | EricsCC ROI: | -54% |
| Status History | |
|---|---|
| Aug 31, 2007 | Current |
| Jun 14, 2008 | Late |
| Jun 28, 2008 | Current |
| Aug 15, 2008 | Late |
| Sep 01, 2008 | 1 month late |
| Oct 01, 2008 | 2 months late |
| Oct 31, 2008 | 3 months late |
| Dec 01, 2008 | 4+ months late |
|
Purpose of loan: I am seeking this loan in order to pay off high interest credit card debt. It is my hope that I can obtain temporary relief with a lower payment, so that I can refinance my home at a better interest rate. With the proceeds from the refinance, I plan to pay this loan off. My financial situation: I am a practicing attorney and the single mother of two children. I left the corporate world 6 years ago and started my own practice close to home. I decided that spending time with my children was more important than commuting for three hours a day and working 60 hours a week. Now, my children are happy and ?prospering? and I now know that I made the best decision that I could have ever made. But now, my credit debt is biting me in the ass! When I started my practice, everything went on my cards. Paying for my own medical and dental, paying for my own malpractice insurance and office space, really took a toll on my finances. In case you didn't know, using your credit cards over 40% of the limit hurts your credit score. But I did whatever I had to do to get off the ground. Unfortunately, this means that I have to pay for everything in cash on top of paying this high interest debt. So, here we are? I need help paying down my credit card debt. I have never missed a payment on anything, and I will do what it takes to make sure that I never miss any payments. My credit cards have APRs of 31%, 29% 29% and 25%. If I can pay a chunk of these cards off and get my limits to below 30%, my scores will rise enough for me to refinance my home. Then it will be easy to use the equity I have to lower my payments, pay off the remainder of my credit debt, and happily pay back Prosper. Monthly net income: $ 13200 Monthly expenses: $ 3640 Housing: $ 1700 Insurance: $ 60 Utilities: $ 80 Phone, cable, internet: $ 100 Food, entertainment: $ 400 Credit cards and other loans: $ 1300 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 184733 | Taking care of credit card debt (and it's about time). : ) | C | $25,000 @ 17% | Aug 09, 2007 | Withdrawn |
| 184758 | Taking care of credit card debt (and it's about time). : ) | C | $25,000 @ 17% | Aug 09, 2007 | Withdrawn |
| 184760 | Taking care of credit card debt (and it's about time). : ) | C | $25,000 @ 21% | Aug 09, 2007 | Withdrawn |
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