Short-term loan for debt consolidation
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 23% |
| Lender Rate: | 20% | Borrower: | Badin1234 |
| Finished | State: | NC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-01-24 | EricsCC ROI: | 19% |
| Status History | |
|---|---|
| Jan 23, 2008 | Current |
| Feb 09, 2008 | Payoff in progress |
| Feb 15, 2008 | Paid |
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Purpose of loan: This short-term loan will be used to consolidated debt incurred starting up a side business and pay bills until I receive my incentive bonus from my employer on 2/15/08. The goal would be to repay this loan in full by the end of February. My financial situation: I am a good candidate for this loan because I have NEVER missed a loan payment in my entire life and also have income >$100,000. My credit score is currently low due to a high debt load associated with investment property for sale and startup costs associated with a side business that was started (dance studio for kids). The problem is that my job is largely based on an annual incentive comp payment that occurs in February of each year. This loan would provide short-term liquidity until I receive that bonus in February and payoff much of my outstanding debt. Monthly net income: $ 5,464 (excluding annual incentive bonus) Monthly expenses: $ 9,329 Housing: $ 1,817 Insurance: $ Car expenses: $ 1,128 Utilities: $ 624 Food, entertainment: $ Clothing, household expenses $ Credit cards and other loans: $ 1,450 Investment Property for Sale: $ 4,310 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 352182 | Short-term loan for debt consolidation | A | $20,000 @ 24% | Jun 17, 2008 | Withdrawn |
| 353131 | Short-term loan for debt consolidation | A | $12,000 @ 19% | Jun 19, 2008 | Loan created |
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