Building Good Credit
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,500.00 | Status: | Loan created |
| Grade: | HR | DTI: | 19% |
| Lender Rate: | 30% | Borrower: | CY00 |
| Finished | State: | NY | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-28 | EricsCC ROI: | 28% |
| Status History | |
|---|---|
| Jul 25, 2008 | Current |
|
Purpose of loan: This is my third time listing this loan. I am a single mom of 1 (2 years old). My last loan was listed as debt consolidation and that may not have been the most appropriate category. Some of the loan would be used to clear up a few bills, one credit card and a couple of old school bills. I am trying to build a better credit score to achieve my ultimate goal of purchasing a home in Conyers, GA for myself and my son. I was in contract for a home there at one point but it was rushed into and I was not completely ready. I had a very diligent real estate agent and we were able to secure a loan but I was unable to come up with the entire down payment in time. I've decided that I would like to clear up what's left of my debt and get my rating up so that I can get a better loan next time around. So I've given myself a minimum time period of 1year and a maximum of 2 years because I would like to be out of the neighborhood I am in by the time my 2 year old is school age. I would also like to begin to build savings. I don?t want to end up in the same position where I have the opportunity to purchase a home but can?t come up with the money. Explanation of Past Delinquencies: Some lenders may be put off by my past number of delinquencies so I will explain. My path to bad credit began when my bank offered me a credit card my first year of college. I didn?t fully understand how important credit was and how badly the misuse of credit cards could affect it. At the time my only income was from work study so my payments were few and far between. Then once I got pregnant with my son my pregnancy was classified as high risk and I was unable to work so aside from the help of family and friends I had to rely largely on credit cards. Then my son was born 2 months early which introduced a new set of problems. He required much of my attention so I was only able to work part time. Explanation of 0 Current Delinquencies: Once my son was well enough to be around other children he began daycare and I began working full time. I currently work for the Police Department in my city which is a secure job and a steady paycheck. I immediately began paying off my debt in an effort to rebuild my credit. I worked with my creditors and they were willing to adjust payments and due dates because of my showing an earnest effort to pay them in full and on time. My financial situation: I am a good candidate for this loan because I'm trying to fix my credit not make it worse. I will pay it back on time without fail. I've become very good a managing my finances and have already worked the loan repayment into my budget. I am still young and still have a chance to make it right and put it to good use. It feels good to not have the burden of late payments and calls from bill collectors hanging over my head. I want it to stay this way. Previous Concerns Addressed: A lender asked previously how my clothing and food expenses could be so low with a 2 yr old. Well my son is in daycare (paid for by his father) where he receives 2 of his daily meals. As far as clothes we have no need to buy clothes every single month, we buy clothes as the seasons change or as shoes are out grown and things of that nature. Monthly net income: $ 1800 Monthly expenses: $ 1380 Housing: $ 750 Car Insurance: $ 120 Car expenses (Gas): $ 80 Utilities: $ 0 (Included in rent) Phone, cable, internet: $ 80 Food, entertainment: $ 150 Clothing, household expenses $ 100 Credit cards and other loans: $ 100 Other expenses: $ 100 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 354541 | Buying a home | HR | $2,500 @ 34% | Jun 22, 2008 | Withdrawn |
| 355529 | Buying a home | HR | $2,500 @ 34% | Jun 23, 2008 | Withdrawn |
| 355542 | Building Good Credit | HR | $2,500 @ 34% | Jun 23, 2008 | Expired |
| 360217 | Building Good Credit | HR | $2,500 @ 34% | Jun 30, 2008 | Withdrawn |
| 361406 | Building Good Credit | HR | $2,000 @ 34% | Jul 02, 2008 | Expired |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|