Paying off high interest credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 18% |
| Lender Rate: | 11% | Borrower: | folsom_borrower |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-01 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Aug 01, 2008 | Current |
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Purpose of loan: This loan will be used to? Consolidate different credit card balances and pay them off. About 2 years back we bought our beautiful home. Buying a home reflected on my credit profile and couple of lenders took the opportunity to increase my APR and lower my credit limit. I noticed that my credit card debt is not going down. This is hurt my repayment plan as now I am paying more towards interest rather than actually paying off principal. In the current situation I do not see getting out of the debt in 3 years. With the help of this loan, I plan to repay some of high interest credit cards now and then become debt free in 36 months or earlier. My financial situation: I am a good candidate for this loan because? I work as a Information Technology Programmer / Analyst and hold a job that is stable and/or getting a new job is not an issue. I have a very stable work history and have been drawing a salary greater than 100K for last 5 years. I have never missed making any payment on time. |
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