Eliminating high interest credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Withdrawn |
| Grade: | C | DTI: | 56% |
| Lender Rate: | 30% | Borrower: | Gettinricher |
| Finished | State: | IL | |
| Funded: | 14% | Group: | (No Group) |
|
My Story: Early in my life after college, I got into some debt due to spending more than I was making at my first low paying teaching job. After our marriage, it continued compounded by job related expenses for my teaching career and my wife's corporate job. Through the years there have been instances where money has become really tight in trying to keep ahead of paying off this debt. There were some missed payments. Consiquently, some of our account holders have found it necessary to raise our interest rates significantly. We are making payments and haven't missed a payment to anyone for literally years. However, we are also not getting very far with some of the interest rates we are paying. My Reason: We would simply like to take some of our high interest debt, pay that off and replace it with our loan here at a lower interest rate so we can pay it down more quickly. We also need a little cash to help cover an unexpected expense of a blown transmission. Unfortunately fixing it was not a choice but rather a necessity to be able to get our children places (such as to see their grandparents once in a while) and for my wife to get to work. How Will It Be Paid Back: My salary is very steady with a gross income of $4360 a month. This is my contractual income. This does not include my wife's income as a church secretary. Detailed Budget: Income listed above. Expenses: Mortgage $839 Credit Pyts $1416 Car Pyt $250 Insurance $160 Auto Fuel $300 Utilities $450 Groceries $300 Student loan $77 Total $3792 We intend to take the money we are currently using to pay these credit cards and apply it toward payments on this loan. The payments for this loan will be lower than our current minimum payments to the credit cards and will allow us to eliminate this debt in 3 years. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 69909 | Eliminating high interest credit cards | B | $15,000 @ 13% | Dec 04, 2006 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|