Last try to pay off Best Buy
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,000.00 | Status: | Withdrawn |
| Grade: | D | DTI: | 39% |
| Lender Rate: | 20% | Borrower: | gregr274 |
| Finished | State: | MI | |
| Funded: | 3% | Group: | (No Group) |
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Purpose of loan:This loan will be used to pay off some revolving credit - specifically a Best Buy card that purchased a new washer, dryer, and refrigerator that all broke and couldn't be fixed last year. Had to have them with 2 kids 2 & 4.The Best Buy card has a balance of $1651.41 with an interest rate of 22.15% APR and $46 min payments. My financial situation:I am a good candidate for this loan because we always pay our bills and the consolidation will help lower our monthly payments. My inquiries are 2 because 1) my lease was up and had to get another car, and 2) we tried to refinance our debt but were turned down by Bank of America. The DTI % is high because we started working on my wifes debts first. We did manage to pay off a few credit cards 2 years ago with a consolidation unsecured loan and figured we'd keep the cards open to have better % on utilized revolving credit. But we had some emergencies ( and Christmas) come up and ended up charging these cards back up. This time we are closing the accounts as we pay them off. We have also gotten 401k loans and have paid off a Capital One CC ($1448), a Chase CC ($783), and a Discover card ($4861) I had with those loans. After paying off Best Buy, I will only have a Home Depot card ($3667), the consolidation loan ($19962), and 3 gas cards that I use for work ($1200 limit that is reimbursed with monthly expense checks but are close to the limit right now waiting for December's check). I would have liked to pay Home Depot off as well but ahve been unsucsessful getting funded 2 other times. If this time doesnt work then I will need to wait a few months until the payoffs and inquiries are recognized. Monthly net income: $ 2900 Monthly expenses: $ 2700 Car expenses: $ 399 Credit cards and other loans: $ 1300 Childcare expenses: $ 1000 We are tryng to get a hold of our revolving credit. My wife pays the mortgage, utilities, and insurance.( Her income is $3200 mo. and pays bills around $2900)We have been looking toward our rising mountain of debt, changed how we spend to stop incurring more debt, but now we need to consolidate any debt we can so that we can pay more and more off until we have a control of our debt and have gotten rid of all of our revolving debt. We look at our kids and wonder how we are going to pay for things for them. I hope there are people out there that have once felt up against a mountain of debt and were able to get help and turn things around - and now want to help someone else. We are at a crossroad in of financial lives and are starting to head in the right direction. A little help will go along way. We do not pay our bills late. No matter what the hardship. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 261060 | Pay off some revolving credit | D | $8,000 @ 20% | Jan 07, 2008 | Expired |
| 266532 | Pay off some revolving credit | D | $1,500 @ 20% | Jan 16, 2008 | Expired |
| 342734 | Paying off bills | D | $9,000 @ 20% | Jun 01, 2008 | Withdrawn |
| 345601 | Paying off bills | D | $3,000 @ 18% | Jun 05, 2008 | Loan created |
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