Pay credit card debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 34% |
| Lender Rate: | 12% | Borrower: | tb972 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-04-25 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Apr 24, 2008 | Current |
| Nov 04, 2008 | Payoff in progress |
| Nov 07, 2008 | Paid |
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Purpose of loan: This loan will be used to pay off credit card debt. In 2004, I sold my home in Goleta (Santa Barbara), California where my 2 children and I were living. It has always been my hope to provide my son, who has disabilities, a home that he can live his life that was fully accessible and accommodate his wheelchair and all of his physical needs. From the gain I realized from the sale, I purchased property in Paradise, California. My son's stepfather designed an accessible log home for my son and we have been building ever since. Our hope is to leave the house, once it is done, to my son debt free. I don't want to mortgage the home I want to leave for my son to pay off debt we have incurred to build the house. By borrowing funds from you, we will be working toward this solution, because it will be paid off in 3 years. My financial situation: I am a good candidate for this loan because I have a history of paying all of my debt in a very timely manner. I have an excellent rating, and I recall my rating fell only once because I used some of the gain from the sale of my house to pay off debt. I did not realize that paying off debt, actually created a lower rating. |
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