Eric's Credit Community

Why am I here:

In the past I was faced with the situation with my mother being diagnosed with cancer. During the time my mother needed my help while she was going through treatments and recovery at the UVA Medical Center. She was out of work and had medical expenses and other bills that needed to be paid. I felt an obligation to help.

While I was helping my mother I found myself in a situation that was causing me to fall behind on some of my own bills. I am now here to rectify my own delinquencies and re-start my financial life.

I want to consolidate some debt and pay-off my delinquent accounts, so that I can lower payments and with my new career I can pay on time and have savings, as well.

Budget:
Current:

Yearly Income:
$75,000- paid bi-weekly
Net income per month:
$3,719.18 (Only have included months where I am paid twice a month.  Does not take into account the 2 months during the year where I am paid 3 times a month.  Net income for those 2 months will be $5,578.77).

Have a potential to earn an annual bonus of 6%- 18% of my current salary with my current employer.

Current Monthly Expenses:
Wells Fargo Auto= $710
Auto Insurance(Paid Feb thru Oct) = $109
Power(Thermostat currently set on a timer)= $75
Water/Sewage= $15
Student loan 1- currently going through consolidation process= $155
Student loan 2- currently going through consolidation process= $127
Student loan 3- currently going through consolidation process= $362
Phone= $55
Cell Phone= $75
Mortgage= $867
Capital One= $10
Merrick Bank (delinquent, setting up on payment plan)= $50
Portfolio Recovery (delinquent, setting up on payment plan)= $50
Groceries= $160
Gas= $120 Lunch=(estimate based on the fact that I do take in leftovers at times)= $120
Entertainment= $140
Savings= $150

Total= $3350

Monthly Expenses with Proper and student loan consolidation:
Wells Fargo Auto= $710
Auto Insurance(Paid Feb thru Oct) = $109
Power(Thermostat currently set on a timer)= $75
Water/Sewage= $15
Student loans- currently going through consolidation process- after consolidation= $479
Phone= $55
Cell Phone= $75
Mortgage= $867
Capital One= $10
Merrick Bank (delinquent, setting up on payment plan)= $50
Groceries= $160
Gas= $120
Lunch=(estimate based on the fact that I do take in leftovers at times)= $120
Entertainment= $140
Savings= $150
Future Prosper credit= $159

Total= $3294

Credit that will be paid off:
First Savings= $388

Current Delinquents to be paid off:
Arrow Financial= $999
Arrow Financial= $1,125
Pinnacle Collection= $1,063
Portfolio Recovery= $990

Other Items of Note:

I completed my MBA in August 2005 and recently started a new position earning a higher income than I was at the time.

I am currently in the process of having my Undergrad and MBA student loans consolidated into one lower payment.

I have been a homeowner since 2002 and all mortgage and auto loan payments I have were paid on time. If anyone has any questions please feel free to let me know.

I really appreciate the help and definitely will be looking to help others in the future.