paying off high interest credit!
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 38% |
| Lender Rate: | 25% | Borrower: | backInSchool2008 |
| Finished | State: | UT | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-11-07 | EricsCC ROI: | 21% |
| Status History | |
|---|---|
| Nov 07, 2007 | Current |
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Purpose of loan: Paying off high interest loan. My financial situation: I have never missed a payment or been late with a bill in the last seven years. Unfortunately, I have a couple of really high interest loans that have been with me from the days when my credit report was not as clean. For years I have been making minimum payments on these loans and it seems as if I will never get out from under them. I keep getting calls from representatives of these institutions congratulating me on never being late (all my bills are on automatic payment schedules) and never using the grace periods. They tell me that I deserve a lower interest rate and want to help me, but after I tell them that I do not own my own home and that my car is already paid off, they apologize and tell me they can't help. Banks tell me that they are pleased with aspects of my credit history, but tell me that I have carried my credit limits at or near the maximums for so long that I am not a good candidate for lower interest loans. They suggest I pay down these credit accounts and keep them there for six months or more before contacting them. I really need help in knocking out some of this debt! I want to make payments that I know are paying off the debt rather than just the interest and I would love to have a loan to do just that. I have returned to school full time to pursue a biology degree. I am nearly done with my Bachelor's and would love to have a fresh start to my financial future. Thank you for considering me. Monthly net income: $ 1700 Monthly expenses: $ Housing: $ 400 Insurance: $ 230 Car expenses: $ 50 Utilities: $ 0 Phone, cable, internet: $ 55 Food, entertainment: $ 150 Clothing, household expenses $ 50 Credit cards and other loans: $ 500 Other expenses: $ 0 |
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