Ivy League Grad - Debt Consolidation
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 22% |
| Lender Rate: | 15% | Borrower: | buddygla55 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | New Day Rising Loans |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-09-11 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Sep 08, 2007 | Current |
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Purpose of loan: Consolidating debt My financial situation: I accumulated this debt over the course of my undergraduate and graduate school years when I had no appreciable income. Now that I do have the income, I don't want to pay them off at high interest rates and continue to hurt my credit scores by carrying a high balance. I'm looking to pay off the debt at a rate lower than my current credit card rate of 28%. About me: I successfully completed both BA and MS degrees at an Ivy League university. I am now a financial consultant to the healthcare industry. I started my current job with a majority of the debt already and then paid a considerable amount for moving cross-country for the new job in San Francisco. I've also taken a few expensive trips paid for mostly on credit for airline flights. (Brother's wedding, best friend's wedding, etc.) To top it off, I was saddled with student loan debt that I hadn't expected, as my parents were originally paying for it. As you probably know, San Francisco is a very expensive city and my rent alone is a very high expense. I recently got a handsome raise at my 1 year mark and this will be my first year eligible for bonus, as the previous year I was ineligible as a new employee. At my current salary I am now paying down the debt; whereas before it remained stagnant. In all honesty, I haven't been as responsible with my debt as I could have been by consolidating for a lower rate a long time ago. However, I didn't, and now I'm realizing the high interest I'm paying on the credit cards and that the high balances hurt my credit to get lower rates. Now I am in a position to really deal with the debt I've accumulated and I will have more income (bonus) and a scheduled raise/promotion in January. My job is going well and I plan on staying for a long time. I'd like to give this service a try and see if I can get a better rate than elsewhere! Monthly net income: $ $3,900 Monthly expenses: $ Housing: $ 1000 (I will be moving into a corporate apartment in October and rent will be paid by my firm for 4 months) Insurance: $ 200 Car expenses: $ 75 Utilities: $ 25 Phone, cable, internet: $ 100 Food, entertainment: $ 500 Clothing, household expenses $ 150 Credit cards and other loans: $ 1000 Other expenses: $ 0 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 193192 | Debt consolidation after graduate school | C | $15,000 @ 23% | Aug 26, 2007 | Withdrawn |
| 193197 | Debt consolidation after graduate school | C | $15,000 @ 23% | Aug 26, 2007 | Withdrawn |
| 193207 | Ivy League Grad - Debt Consolidation | C | $15,000 @ 23% | Aug 26, 2007 | Withdrawn |
| 193440 | Ivy League Grad - Debt Consolidation | C | $15,000 @ 21% | Aug 27, 2007 | Withdrawn |
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