Consolidation Loan To Improve Credit
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 79% |
| Lender Rate: | 14% | Borrower: | Aerrow |
| Finished | State: | IL | |
| Funded: | 100% | Group: | A thru E graded Loans --> 100% borrower success rate |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-27 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Aug 28, 2007 | Current |
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Purpose of the Loan: I need
this loan to get rid of revolving credit and raise my credit score, as
well as pay off the loan fees and make a few car repairs. I have $4065
in credit card debt which got so high because of bills I had to cover
back when my mother was without a job and some school related costs.
All my debt at the moment is from credit cards, my car payments,
insurance and cell phone. I am currently a college graduate with
student loans in deferment so I do not need to pay those at the moment.
I have no DQs past or present and although my DTI is high I don't have
any problem keeping up with bills at the moment. My Financial Situation: I currently work at Trader Joe's as an artist making $12.75 an hour. I live at home with no housing costs. I recently earned a 35 cent raise and now am able to work 40 hours a week, compared to 30-35 beforehand. I used to bring home up to $1200 net and can expect from my next paycheck on with full-time hours to bring home $1400-$1500 net per month. I made $13771 last year gross and can expect to make a significant amount more this year owing to increase in overall hours and making a dollar in raises since January. I have been wasting my money paying off minimum balances on my credit cards and getting this loan will save me thousands of dollars in the long run and get me out of debt years faster then sticking with any credit card. My payments with this loan will not be much higher than my current credit card payments and will still be very manageable. I will be making payments on this loan via direct deposit so I will never be late on a payment. Monthly net income: $1400 Monthly expenses: $ 775 Housing: $ 0 (I live at home no rent) Insurance: $ 75 Car expenses: $ 335 (car payment-$214.54 and fuel-$120) Utilities: $ 0 Phone, cable, internet: $ 50 Food, entertainment: $ 180 Clothing, household expenses $ 0 (no rent or utilities) Credit cards and other loans: $ 130 Other expenses: $ 0 Total Remaining: $1400-775= $625 |
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