Paying off tax bill
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,800.00 | Status: | Withdrawn |
| Grade: | A | DTI: | 3% |
| Lender Rate: | 11% | Borrower: | NextStep |
| Finished | State: | CA | |
| Funded: | 42% | Group: | (No Group) |
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Purpose of loan: This loan will be used to pay off an outstanding tax bill. The bill is owed to the IRS and I have been making payments as agreed for about two years. In addition, my latest year's tax refund was applied to the bill, taking it down to it's current level of about $3,700. The surprise in paying off this bill is the way the interest and penalties have continued to climb, to the point where now these add-ons are running at about 25% per month. Even if I triple or quadruple the agreed upon payment up to $1,000 per month, I would never be able to pay the debt off, it would accrue $12K per year in the next year alone. The debt is from 2005 when I received some company stock outright, which triggered paper profits. I'd like to pay this bill off in a lump sum asap, and then make my payments at a fair interest rate. My financial situation: I am a good candidate for this loan because I am well employed as a marketing professional, I own a home, my debt to income ratio is very good, my credit is in the "A" range, and cash flow is positive and reliable. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 102188 | Tiding over during exec. job hunt | B | $15,500 @ 16% | Feb 21, 2007 | Withdrawn |
| 361521 | Paying off tax bills | A | $4,700 @ 9% | Jul 03, 2008 | Loan created |
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