Eric's Credit Community

Hello and thank you again to all those who helped in funding my first loan. I completed the projects and the house is beautiful. I am now seeking to get another loan to pay off all of my credit cards. I've been trying to refinance my mortgage and am running into some red tape due to the balances I am carrying on my credit cards. If I pay off all my credit cards I will be able to raise my credit score and qualify for refinancing before my adjustable rate kicks in. I have never been late on my Prosper loan and have the payments automatically deducted from my checking account. 

My Monthly Income: $6000 which includes child support Employment: I work for a Pharmaceutical Company as an Instructional Designer.

Monthly Expenses are listed below:

• Mortgage: $2490
• Auto: $400
• Utilities: $300
• Insurance & Taxes: $200
• Groceries: $350
• Credit Cards: $350
• Gas & Auto Insurance: $350
• Miscellaneous expenses for 1 child: $100
• Prosper Loan: $477
• Savings: $200 

I have enough money each month to make the loan payments, I would rather have one lower interest rate from Prosper. I would like to pay off all my credit cards before the end of this year, so that I can raise my credit score and be in a great position in the spring when I refinance my home.  I have a high number of inquires due to me trying to refinance my house.

Credit Card Pay-Off Breakdown: 
CC #1 IR@25%:   $ 4300
CC #2 IR@29.99%: $ 2200
CC #3 IR@27.99% :$ 1500  
                TOTAL : $8,000  

Please contact me with any questions.