Eric's Credit Community

Purpose of loan:
I'd like to pay down, consolidate, and cut up my credit cards!  Thank you in advance for your interest and your help.  I've never missed a payment before, and always make good on my debts.  Won't let you down!

Since I own my own small business and don't report my income, I'd like to start with a smaller loan to pay the most egregious card. Once I've wracked up a few months of history, I'll be back to list the other.  I'm hoping this will get bid down to the 7 - 8% range.

Here?s a summary of my credit card debt ? I?m starting with the first one with this listing.  My credit report shows an additional $9000, but I recently paid that off (within the last month) after selling a little bit of stock that I owned.

9600 @ 15.52%
8500 @ 15.49%


My financial situation:
I run my own small business in the north woods of Minnesota.  It's a general store, bar, and restaurant all in one place -- started over a hundred years ago. Located in an area that's best known for  outdoor sports, including hunting, snowmobiling, hiking, and fishing, the area draws weekenders and cabin owners from as far away as Minneapolis.  Over the past 16 years that I've owned, revenues have climbed from under $50k per year to just over $200k in 2006. I'm getting older, and won't have the energy to look after the bar for too much longer.  I will probably hire someone to run it or sell within the next couple of years. I'd like to clean up this credit card debt before I do.The income and expenses listed below reflect what I earn, taking into account seasonality of the business. You can see that I'll be able to tackle this loan easily.

Monthly net income: $ 3000 - 5000 (fluctuates by the season)

Monthly expenses: $ 2470
Housing: $ 1000 (mortgage)
Insurance: $ 100 (property)
Car expenses: $ 0 (paid by business)
Utilities: $ 150
Phone, cable, internet: $ 75
Food, entertainment: $ 300
Clothing, household expenses $ 200
Credit cards: $ 385
Other expenses: $ 200 (misc)
Property Taxes: $ 60
=============
Net $530 - 2530