Eric's Credit Community

Purpose of loan:
This loan will be used to payoff one high interest accounts @ 30%+ interest & help debt service the others while I sell a vacant water view home site.
My financial situation:
I am a good candidate for this loan because? I have never had a 30 day late in my life. My current credit score is caused by my credit card balances being maxed due to the interest rates jumping to 25-30% off of 5.9-7.9% interest. I was told by the credit card company that the banks can remove promotional rates any time that they choose? simply by ONE of your accounts reaching it?s maximum. I had one account reach it's maximum during a business trip.

I have always taken pride in my solid 780 credit score? it has only been in the last few months that my credit score eroded, while banks chose to ?remove promotional rates??. I still have never been late on a bill in my life!!! You can see on my credit summary that delinquencies in the last 7Y = zero.

The good news is that my ?tight? budget right now will be resolved in just a few months?I am in the process of selling a waterview property that I have aggressively dropped the original listing price of $489k down by $200k to tax assessed value ($289k) for a quick closing. This property is located in Washington State, where we haven?t been hammered quite a severely as other parts of the country. I was going to build a home there, but would rather stay where I'm at now, and use the $90k in equity that I have to pay off all of my debts. More than 70% of my consumer debt is directly tied to planning and debt servicing this property. (I can provide a MLS # to anyone who may be interested). Additionally, I will be able to refinance my current 7.5% mortgage to around 6% in October. This will drop my Debt Ratio down by about 8%. When I have sold my lot, paid off my consumer credit and refinanced my house my debt ratio will be around 30%. This is without taking into account that my earnings will increase by approximately 6-8% for each of the next 4 years.

I have been in the same line of professional work for 18 years. I have been continuously employed during that time. My current time at job reflects a change in employer that I made last year, when a well respected brand in my industry asked me to work for them. I am very fortunate that I enjoy my work!

Thank you for considering investing in my loan. If I can assist you with any other diligence? please ask!!!

Monthly net income: $ 6333