Paying off credit card
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 0% |
| Lender Rate: | 14% | Borrower: | MNDogLover |
| Finished | State: | MN | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-28 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Apr 25, 2008 | Current |
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Purpose of loan: This loan will be used to? Pay off a high-interest credit card My financial situation: I am a good candidate for this loan because? I have a good credit history (with one minor blip). I started my own business in May 2007, and the first couple of months were a little rocky financially. But that's to be expected. All things considered, I'm doing well. Within 3 months of starting my business, it had grown so much that I had to bring on another full-time person. I now have that full-time person and three part-time people working for me. I plan to add another full-timer by the end of summer 2008. Business continues to grow, and each month is better than the last. Prior to starting my business, I had an "A" credit rating. During the "rocky" time I missed one credit card payment and one student loan payment (30 days late each), and so my credit score took a bit of a hit. I was caught up within a month and have been on time with everything since then. The credit card interest rate went from 7.9% to 20%, so I want to get out of that so that I can continue to improve my situation. I would rather pay interest to "average Joes and Janes" than to big credit card companies! Monthly net income: $ 2,000+ Monthly expenses: $ Housing: $ 500 Insurance: $ 50 Car expenses: $ 300 Utilities: $ 50 Phone, cable, internet: $ 50 Food, entertainment: $ 200 Clothing, household expenses $ 50 Credit cards and other loans: $ 300 Other expenses: $ 200 |
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