Credit Card Consolidation to Raise Credit Score
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 20% |
| Lender Rate: | 19% | Borrower: | blancchampion |
| Finished | State: | KS | |
| Funded: | 100% | Group: | Have Money - Will Bid |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-08-31 | EricsCC ROI: | -46% |
| Status History | |
|---|---|
| Aug 31, 2007 | Current |
| Apr 16, 2008 | Late |
| May 01, 2008 | 1 month late |
| Jun 05, 2008 | 2 months late |
| Jul 09, 2008 | 3 months late |
| Aug 01, 2008 | 4+ months late |
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Purpose of loan: I have a one-year old business that is turning the corner and beginning to grow. However, my personal credit score is still considered when seeking capital. Currently, my revolving debt to limit ratio is hurting my credit score as I used my credit cards to get through this first year. This loan is meant to reduce that ratio while not increasing my debt payments. My financial situation: As stated, the main issue on my credit record is my debt/limit ratio. I have no late payments and will do everything in my power to prevent such from happening since I need my credit record to be a sparkling as possible. I have several credit cards that are at over 30% interest. The following is a list of targeted cards, their balance, and the payment that would be put towards paying back this loan.
Based on the max interest rate set by my home state, Kansas. The monthly payments would be $313. I am confident that my budget can support the additional $3/month. Income: I am currently paid $5000/bi-weekly. The net after taxes is $3903.11. Monthly expenses: $ 7211 Housing: $ 2300 Insurance: $ 650 Car expenses: $ 630 Utilities: $ 300 Phone, cable, internet: $ 150 Food, entertainment: $ 800 Clothing, household expenses $ 150 Credit cards and other loans: $ 1631 Other expenses: $ 660 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 185624 | Credit Card Consolidation to Raise Credit Score | D | $10,000 @ 19% | Aug 12, 2007 | Expired |
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