Consolidating and Refocusing
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 28% |
| Lender Rate: | 15% | Borrower: | SunnyD |
| Finished | State: | OK | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-30 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jun 28, 2008 | Current |
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Purpose of loan: This loan will be used to be used to consolidate and pay off credit cards that I will be closing. I make a very good income but open and used credit cards and accumulated multiple payments that make it hard to focus on and pay down as quickly as I would like (which especially came in to focus when the credit card minimums started to be calculated differently and at higher payments?but it was a good wake up call). I just want to get my finances cleaned up as quickly as possible and consolidating is the best option. I am not having difficulty making payments but I need to consolidate to make headway and more importantly, I need to set a better example to my son. My financial situation: I am a good candidate for this loan because I have a solid payment recorded, am employed full-time as civil service and a member of the Air National Guard. Based on my performance this year, I have no doubt I will get an increase in my income from my civil service job as well as I am on the promotion list to be promoted in the ANG as soon as the list is confirmed in DC. Even though the ANG is part-time, is an increase in income that can be applied to the loan. I have used additional money earned working extra days to pay off some expense already and will keep on until I completely wipe it out. I do not and will not use a second mortgage to consolidate even though it would be a cheaper option. Monthly expenses: Housing: $1500 Medical Ins/Retirement paid pre-tax Vehicle expenses: $750 (My son is paying $250 a month for motorcycle from this amount, I am the financer) Utilities: $200 Phone (cell & home), cable, internet: $150 Food, entertainment: $300 Credit cards and other loans: $1000 |
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