Pay off high interest debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,000.00 | Status: | Expired |
| Grade: | D | DTI: | 36% |
| Lender Rate: | 5% | Borrower: | Relinq |
| Finished | State: | PA | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: This loan will be used to pay off high interest credit debt. My financial situation: To the point, I'm looking to pay off the debt I owe at a reasonable rate and as quickly as possible. I accumulated a lot of credit card debt while in college. My family could not afford much help so I had to pay for school, books, art supplies, housing, and living expenses on my own. What my student loans and pay check could not cover, the credit cards did. Only in the last few years did I get a good paying job was able to truly make some head way into this debt albeit slowly because the high interest was stifling to say the least. In 2006 I was laid off from work for 8 months exacerbating my debt woes. Yet within 6 months of receiving my current job, I've been able to raise my credit score from bad to fair. As before losing my job, I only buy what I have cash enough to buy. I'm just looking for a little bit of help to consolidate my credit debt at a much lower interest rate than I'm currently paying on my credit cards. I'd rahter take that money to pay a lower interest loan that I might pay off the debt more quickly and not lose so much money in interest. I am a good candidate for this loan because I really want to be free of this debt and pay back what I owe. My simple plan is to stay on my budget, use the money from the credit cards to pay this loan and to shelve the credit cards. (I don't want to close them because of the negative effect it has on your credit score.) I'm just looking for a little help. Monthly net income: $ 2320 Monthly expenses: $ 2200 Housing: $ 550 Insurance: $ 135 Car expenses: $ 50 Utilities: $ 50 Phone, cable, internet: $ 100 Food, entertainment: $ 230 Clothing, household expenses $ 25 Credit cards: $600 Car Loan: $235 Sutdent loans: $185 Prescriptions: $ 40 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 320360 | Pay off high interest debt | B | $10,000 @ 14% | Jun 01, 2008 | Loan created |
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