Aloha! Paying last student loan and last CC! Go FICO go!
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 24% |
| Lender Rate: | 12% | Borrower: | Malina |
| Finished | State: | WA | |
| Funded: | 100% | Group: | PsychDoc's Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 3 months late | Origination Date: | 2006-07-05 | EricsCC ROI: | -7% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
| Jan 21, 2007 | Late |
| Feb 06, 2007 | 1 month late |
| Feb 21, 2007 | Current |
| Aug 20, 2008 | Late |
| Sep 06, 2008 | 1 month late |
| Oct 06, 2008 | 2 months late |
| Nov 06, 2008 | 3 months late |
|
Aloha from the beautiful pacific North West! I am in the final stages of recouping my 700+ fico scores (currently at 644/675/682) and I have 2 LAST hurdles!!!! I would like to pay off the remaining balance of my revolving debt, (Darn CCs!). I started out at owing $6500 on a total credit limit of $7000 so unbeknownst to me at the time; I was sabotaging my own scores with high UR! (That won't happen again!) I have roughly about $2800 remaining and the interest rate is less than desirable. I also would like to pay off my VERY LAST STUDENT loan!!!! Wooo hooo! I started out with a total of 14 student loans, (I am a registered nurse with a Bachelors in Nursing and a Masters in Public Health from Tulane University.) This last remaining loan was a Perkins loan that was being held by the school that I had no idea wasn't paid off like the rest were. I owe approximately $2200 and if I don't pay in full, I will be paying a 42% default charge. Yikes. Ordinarily, I would just put it on my CC, but, well... you know... I'd just be shooting myself in the foot again and I'm running out of toes! LOL Here's a little history/update for those who know me from CB. Here's the cliff note version: In Hawaii, DH and I were a 2 income family with "latch key" kids. We decided to leave that high cost of living state and move to WA in pursuit of a better quality of life. I quit my job with the federal government and became a stay at home mom to our new baby born 12/2005 and my 2 boys. (DH still works for the Dept. of Defense) Extraneous moving expenses pretty much maxxed out our CC's and an incorrectly reported late payment to Verizon (now removed) made our scores plummet. We had no idea what was happening until we tried to refinance one of our two homes. Paying CC debt in full is not easy on one income and our savings was dwindling.The fabulous people at CB saved the day and gave us tips on how to regain some points. The refi went through just fine but we chose to NOT cash out any of the existing equity. We plan to keep both houses until the profit of selling house #1 (in Hawaii) is enough to pay off house #2 (in WA). Tapping into our equity would delay this goal and we are soooooo close!!!! My nursing license transfer from Hawaii to WA went through last week and instead of working part time and leaving my new baby in day care, I filed all the paperwork to perform child care here in my home. I had 3 kids signed up as soon as I was licensed, and all were acquired through word of mouth from neighbors. I love small towns! Anyhow, this loan would help us move closer to our goal and preserve our quality time with our kids!!! Cars are paid off, CC would be paid off, the last student loan would be paid off and we would not have to use any equity or incur any more CC debt. If the value of my Hawaii home increases another $100,000 (current value at $565,000) then once we sell it and payoff house #2, we will be mortgage free!!!! I really like the sound of that and Dh and I will do what it takes to accomplish this! Thank you for considering me and for taking the time to read this! Mahalo! |
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