Eliminate our Credit Card Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,400.00 | Status: | Loan created |
| Grade: | C | DTI: | 17% |
| Lender Rate: | 16% | Borrower: | jj26 |
| Finished | State: | WA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-31 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Aug 31, 2007 | Current |
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Purpose of loan: This loan will be used to pay off our 3 credit cards. Three years ago, our daughter was born 2 1/2 months premature -- very unexpectedly -- spending 10 weeks in the NICU. This caused us to need to use our credit cards to supplement our income until my wife could go back to work part time. For the last six months, we've been paying $1100/month but with the high interest rates, the balances have barely budged. My financial situation: I have a very good job as a software developer for new Microsoft technologies (applications for the new operating system, Vista). I have been in this field for 8 years. We also own 7 rental properties back in Oklahoma (we moved to Washington last year) with $110,000 in equity but with the current subprime lending crunch, it doesn't make sense to refinance to pull out the little cash we need to pay off the credit cards. Getting this loan would save us approximately $500 a month in payments. Monthly net income: $ 6,108 (including $700 from my wife's home business) Monthly expenses: $3,730 Housing: $ 1170 Insurance: $ included in job Car expenses: $ 350 Utilities: $ 120 Phone, cable, internet: $ 220 Food, entertainment: $ 400 Clothing, household expenses $150 Credit cards and other loans: $ 1100 (minimum payments are only ~$550) Other expenses: $ 220 (medical bills, student loan payments) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 190170 | Debt Consolidation | C | $25,000 @ 24% | Aug 20, 2007 | Withdrawn |
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