pay off some credit card debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,000.00 | Status: | Expired |
| Grade: | HR | DTI: | 11% |
| Lender Rate: | 18% | Borrower: | Flxiblemetro |
| Finished | State: | CA | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: The purpose of this loan is to pay off and bring the balances to zero on my subprime credits cards, and bring down the balances on my other credit cards in order to boost my credit score, and pay this loan in 6 months rather than 3 years. I know that this type of loan is an installment credit as opposed to revolving credit. I tried to set the maximum interest rate of 35 percent, but my state California only allows the maximum interest of 18.20 percent. My financial situation: I am a good candidate for this loan because I have never missed a payment on my credit cards, even though my credit score is low. So far, I am current on all my credit cards, so I have no late payments, collections, charge offs, court judgments, bankruptcies on all three credit reports. I would be able to pay off some of my debt sooner and the monthly payments of this loan if I get fully funded for minimum loan of $1,000. If I don't get fully funded for $1,000, then It'll take longer for me to improve my credit score or grade. And when my credit score reaches 700, then I'll reapply for a loan to use for a vacation to visit relatives, or fix my broken computer, or jump start my savings. Also, I understand that in order to bring my credit score to 850 or credit grade to AA, I'll have to pay off all my credit card debt and keep the balances zero with my own money. My Income: My monthy income veries, because I get paid by the hour. Can hourly workers qualify for an installment loan like salary workers? My average monthly income from work is about $700. During January In the winter, my income can be low as $200; in the summer during July, my income gets as high as $1,200. The job I currently have operates about 10 to 11 months a year. I work full time during late spring spring and summer, part time during the fall, spring, and late winter. During the early winter, I am on temporary layoff . Right now, my monthly income from work is starting to go up. Would be about $500 this February and $700 in March. I also get SSI from the government, which is about $450 a month year round, which is used to pay part of $620 discount rent which is not in my name, so I live with my mother. During 2007, my annual income was about $15,000 from work and SSI. I am currently looking for a job with more a steady or near steady source of income. Change of Spending habits: In order to improve my credit score or grade sooner, I am starting to change my spending habits such as eating out less often and start buying more groceries, using cash and debit cards more often, using credit less, and save about 25% of my take home pay. I don't drive, so I take public transit instead, so I don't have to worry about the hassles of paying for maintenance and repairs if my car were to break down or get vandalize, which could cause me to fall behind on payments. Monthly net income: $ average 750 wages/$450 SSI $1,200 total Monthly expenses: $ Housing: $ 320 share of rent/live with parents Insurance: $ 0 Car expenses: $ 0 I don't drive. I Take public transit instead Utilities: $ 0 Phone, cable, internet: $ 75 Food, entertainment: $ 100 Clothing, household expenses $ Credit cards and other loans: $ 107 minimum monthy payments combind Other expenses: $ |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 271065 | pay off highest interest credit card debt | HR | $2,551 @ 32% | Jan 24, 2008 | Withdrawn |
| 274375 | pay off highest interest credit card debt | HR | $1,000 @ 18% | Jan 31, 2008 | Expired |
| 284844 | pay off some credit card debt | HR | $2,551 @ 32% | Feb 26, 2008 | Expired |
| 298701 | pay off some credit card debt | HR | $1,000 @ 18% | Mar 24, 2008 | Expired |
| 398895 | pay off some credit card debt | HR | $1,000 @ 35% | Sep 16, 2008 | Withdrawn |
| 404331 | pay off some credit card debt | HR | $1,000 @ 32% | Sep 29, 2008 | Loan created |
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