Fireman needs help consolidating high interest debt * RELIST
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 46% |
| Lender Rate: | 20% | Borrower: | GitRDone122 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | 1st and BEST for Loans |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 1 month late | Origination Date: | 2007-12-31 | EricsCC ROI: | -34% |
| Status History | |
|---|---|
| Dec 29, 2007 | Current |
| Nov 15, 2008 | Late |
| Dec 01, 2008 | 1 month late |
|
Purpose of loan: I will be using this loan to consolidate a high interest credit card that I 'inherited' during my divorce earlier this year. The card has an interest rate of 27.74% with a balance of $7,475 and a minimum payment of $250 per month. With this loan I will be replacing that payment. My financial situation: I am currently empleyed by a suburban Chicago fire department as a firefighter & paramedic. I have been working there full time for 9 years & 10 months. I have been employeed full time since the age of 20 without a break. As a union firefighter I am very ssecure in my job, with absolutely no outlook as loss of job or pay ever. We do currently have a contract in effect with a 3.75% pay increse scheduled for each of the next 3 years. I also have a roommate currently renting a bedroom from me in my home with a monthy rent of $550. This income is not included in my debt to income ratio. But, including it in does decrease my ratio to just over 42% Monthly net income: $4,950 ($4,400 from employment & $550 from rent) Monthly expenses: $ Housing: $ 1950 (mortgage, insurance, association fees, real estate taxes) Insurance: $ 100 (motorcycle & car) Car expenses: $ 1000 ($620 - car, $228 - motorcycle, $152 gasoline) the motorcylce will be completely paid off within 10 months. Utilities: $ 150 (always constant due to budget billing with both electric & gas companies) Phone, cable, internet: $ 180 Food, entertainment: $ 300 - varies Clothing, household expenses $ 125 Credit cards and other loans: $ 800 (to be decreased by $250 when I pay off the 1 card with this loan, then back up to the same area as I repay this loan) To explain the 4 credit inquiries on my credit report.... 2 of them are from Prosper checking my credit (once just recently, and once almost 2 months ago when I first signed up to Prosper). The other 2 are both retail store credit cards that I applied for when I began my Christmas shopping a couple months ago. They have both been paid off since then...I just used them to get 10% off my purchse when I signed up for the cards. To explain the 66 total credit lines listed above.... Having looked at my credit report a couple months ago... Many of those lines are closed lines that were incurred during my marriage to my wonderful shopper of a wife!!! She loved to buy stuff when we didn't have the money. Then we would go get a small ($1k - $2k) loan and pay it off within a few months. I currently have approx 15-20 active credit lines, including probably close to 10 department store credit cards with balances at or near $0.00. The remainder of the lines are credit cards, auto loans, mortgage, personal loans, etc... |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 222930 | I need help consolidating high interest credit card debt. | C | $10,500 @ 20% | Dec 03, 2007 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|