Eric's Credit Community

The purpose of this loan is to pay off a high interest title loan so that I can pay my remaining old bills and start repairing my damaged credit score. 

In Spring 2007, I started creating a student-led community design group at VT, based out of the work being done via national architecture/planning conferences. This required a lot of travel/professional expenses; though I got what help I could from family/my department, I had to borrow extra to be able to afford to do this work.  My credit is poor from my divorce/relocation to Virginia (I found out that some accounts that I thought had been paid off by my ex were still unpaid), so my only option at the time was a high interest temporary loan, hoping to pay it off later via educational loans/fundraising.  This happened during an emotionally overwhelming time, and I wasn?t thinking clearly -- I threw myself into this work with everything I had and didn?t realize the trouble I was in until too late, when a problem with the student loans and extra expenses due to health crisis left me unable to pay off the high-interest loans & paying half of my take-home pay in interest alone.  I fell behind on credit card payments/medical bills & several accounts were sent to collections, which further ruined my credit score. 

I have managed to get things more under control now, paying off one of the credit cards, the medical bills & making arrangements on the other credit card, but desperately need to get a lower-interest loan to pay off the title loan so that I can settle all my debts & rebuild financially from this.  I have a secure job and adequate salary as classified full-time staff & am very accountable, professionally. I am dedicated to paying these debts off and getting myself up to a credit score that I can be proud of.  I am also a part-time student/student group leader with a 3.95 GPA , & want to take care of this before the fall semester starts so that I can concentrate on my performance.  I can pay back the loan here within a year; after the interest rates I?ve been paying, even something like 35% would be a real blessing.    

My monthly budget:

Income: Regular salary: $1636 

Rent: $325
Cable: $17
Phone: $55
Insurance: $39
Car: $50 (gas & maintenance)
Food & Necessities: $200
Credit card - $100 per month for next year ? account will be closed afterward
Other loans (from relocation) - $300 per month ? will be paid off within a year.

I would be happy to answer any questions you may have. While I am embarrassed about this situation, it has happened in service to a very good cause, one to which I'm completely devoted. This is something you can help out with at very little risk (paying back this loan will have top priority for me), and feel good about investing in...watch my profile for updates!