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|Loan Status:||Paid||Origination Date:||2008-05-16||EricsCC ROI:||8%|
|May 24, 2008||Current|
|Mar 27, 2009||Payoff in progress|
|Apr 02, 2009||Paid|
Purpose of loan:
This loan will be used to cover expenses related to my pending wedding as well as consolodation of our combined remaining credit card debt. Although we aren't having a large wedding, we are covering it on our own. As a result, we will be starting our new lives together with a bit of debt. The primary issue (and the reason for the loan request) is that the majority of these expenses occur within two weeks of each other, and need to be paid in full. Credit cards are an unfavorable option because of the higher interest rates (and many of the people we are working with for the wedding don't take credit cards).
My financial situation:
I am a good candidate for this loan because I have excellent credit and post-wedding repayment will not be an issue. I have run the numbers for our new life as a couple and confirmed that our frugal "DINK" (Dual Income, No Kids) lifestyle and low bills will afford us the extra cash to repay this loan promptly. We are both financially conservative and plan on living debt-free as soon as possible. In the meantime, we are hoping to show our friends a good time at our wedding and plan to take care of this expense without spreading it across several credit cards and playing the "balance-transfer game". Thank you in advance. We both really appreciate the help!