Consolodation of 2 credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 42% |
| Lender Rate: | 14% | Borrower: | john3304 |
| Finished | State: | OH | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-03-04 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Mar 01, 2008 | Current |
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Purpose of loan: This is a direct consolidation of two credit cards with high interest (over 24%). I hope to refinance these at a lower interest rate to pay them off faster. The monthly payments for this loan are about the same as the minimum payments on these cards, so it's something I'm already paying and it would let me apply overpayments to the next highest card so that My financial situation: I have incurred some credit card debt over the past couple years due to health issues 2 years ago that kept me from work and expenses from my wife starting her own business. Her business is now paying it's way, and I took a new higher paying full time job last year with a company I had been doing freelance work with for 7 years. This has enabled us to make some good progress on our debt over the past 9 months and a lower interest rate on our 2 highest interest credit cards would help us become debt free faster. Monthly net income: $ 4680 (Salary) + $2000 in sales (average net income for the past 7 months) Monthly expenses: $ Housing: $ 1080 Insurance: $ 67 Car expenses: $ 400 Utilities: $ 150 Phone, cable, internet: $ 60 Food, entertainment: $ 400 Clothing, household expenses $ 350 Credit cards and other loans: $ 1400 Health Care: $ 300 |
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