Consolidating High Interest Credit Card Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $14,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 38% |
| Lender Rate: | 14% | Borrower: | akfamily03 |
| Finished | State: | AK | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-12-24 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Dec 21, 2007 | Current |
| Oct 21, 2008 | Payoff in progress |
| Oct 25, 2008 | Paid |
|
Purpose of loan: We will be using this loan to pay of various credit card debt that was incurred by remodeling our home. We were going to use a home equity loan but because of the housing market crash due to the instability of the economy the value of our home has decreased below a lendible value. If we could consolidate various credit cards it will eliminate the task of having to make several payments each month to different institutions. We have high interest debt because we signed up for these credit cards when we were young and did not have any credit so some of the cards are carrying a 22 and 23 % interest rate. My financial situation Secure employment for over four years Monthly net income: $ 4,500 Monthly expenses: $ Housing: $ 650.00 Insurance: $ 150 Car expenses: $ 250 Utilities: $ 100 Phone, cable, internet: $ 50 Food, entertainment: $ 200 Clothing, household expenses $ 50 Credit cards and other loans: $ 500 Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 240559 | Consolidating High Interest Credit Card Debt | A | $20,000 @ 14% | Nov 29, 2007 | Expired |
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