Consolidate High Rate Credit Cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,200.00 | Status: | Loan created |
| Grade: | D | DTI: | 25% |
| Lender Rate: | 17% | Borrower: | SDB852 |
| Finished | State: | KY | |
| Funded: | 100% | Group: | Freinds helping Friends |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-26 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Oct 30, 2007 | Current |
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Purpose of loan: I am a single mom of two small children ages 4 and 6. I have several high interest rate credit cards that I used over the past year while adjusting to life on my own. After the divorce was final, I had a few months without my financial settlement and child support to live on. This is where I had to rely on these cards to get by and also when I had my 2 late payments. The rates on these cards range from 25%-30% interest rates with them being so high I have not been able to get them paid down quickly. I have finally gotten adjusted and budgeted based on my income and necessary expenses. Now life in general is settled in and the only thing left to "adjust" is the financial aspect. That is why I need to consolidate these high rate credit cards into a fixed rate loan and get them paid off. My financial situation: I have a full time job with a steady income, I also get child support payments every two weeks on top of my salary so I would be able to afford this loan and after it is paid off my credit score should be much better. I own my own home and have approximately $20,000.00 equity built up in it if I were to have any unforeseen problems. I could get a home equity loan now but I feel that I can take care of this with a debt consolidation loan without having to put a second mortgage on my home. Monthly net income: $ 4500.00 Monthly expenses: $ Housing: $ 1150 Insurance: $ 100 Car expenses: $ 150 Utilities: $ 225 Phone, cable, internet: $ 300 Food, entertainment: $ 500 Clothing, household expenses $ 400 Credit cards and other loans: $ 550 Other expenses: $ 500 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 208426 | Consolidate High Rate Credit Cards | D | $15,100 @ 24% | Sep 28, 2007 | Expired |
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