Refinance Credit Card
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,900.00 | Status: | Expired |
| Grade: | D | DTI: | 43% |
| Lender Rate: | 15% | Borrower: | teebob21 |
| Finished | State: | NE | |
| Funded: | 0% | Group: | (No Group) |
|
Purpose of loan: This loan will be used to refinance a credit card which just had its rate raised by 10%. I made my first late payment in over 5 years over the holiday season -- late by 1 day. In return, this credit card rate has gone up to 29.80%, and they refuse to lower it after I spent a half hour on hold with them. My financial situation: I am a good candidate for this loan because I have full-time employment, and I do not spend money on "extras". My financial world has seen quite a bit of "experience", by which I mean I racked up a bunch of debt in college and am now wiser for the experience. My focus for the past 14 months has been to reduce debt, at the expense of maybe a new computer, or a HDTV, or a new pair of shoes. I have a lovely toddler at home - a little girl, pictured with the listing. I am also getting married in less than a month, and wedding expenses have really reduced the amount of money available for debt reduction, so interest rate reduction is important for me right now. You will see from my monthly expenses that debt makes up the bulk of my monthly budgeting. It includes 4 revolving accounts, an auto loan, government student loans, and my first Prosper loan. In total, I owe about $13,000 total in revolving debt, and about $4,000 was just transferred to a lower interest account. Experian has not yet been updated of the zero-balance on the old card, which is why my total revolving balances are reported as over $17k. I own a home in Nebraska, but due to a transfer at work, I am no longer living in it. I have a renter in a year's lease. Due to these factors, my DTI is overstated and my credit score has suffered. Why it has dropped from a B to a D...I have no idea. You can see that I have no delinquencies, no outstanding collections, very little negative activity at all. FICO really doesn't like the fact that I have a relatively short credit history average. I will be seeing 2 large payments in 2008, both of which I intend to use for debt reduction. First, my tax refund includes my dependent child, and should exceed $3,000. Second, my fiance's father is a rancher and is giving us 2 calves for a wedding present. (He's also raising, feeding and vaccinating them at no cost.) In November, they should sell for about $1,000, provided that nothing insane happens in the beef market this year. The money from the calves and the tax refund are earmarked as debt reduction money, nothing else. I would appreciate your bid on this listing. I want to get the card I mentioned paid off as soon as possible, in full, even if it means another tradeline on my report. I have held a Prosper loan for over a year now, with all payments being made on time. I do not make a habit of late payments, and will make this loan payment, along with the rest of them: on time, every time. Thank you for your time looking at this listing, and God bless. Monthly net income: $2,320 after taxes, 401(k), and insurance contributions. ($40,000 gross salary annually) Monthly expenses: $ 1,975 net expenses
|
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 63376 | Tuition and CC Payoff | B | $1,800 @ 13% | Nov 17, 2006 | Withdrawn |
| 63379 | Tuition and CC Payoff | B | $1,850 @ 11% | Nov 17, 2006 | Loan created |
| 268202 | Refinance Credit Card | C | $6,900 @ 15% | Apr 10, 2008 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|