Pay off my credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 31% |
| Lender Rate: | 19% | Borrower: | dlaurel |
| Finished | State: | PA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-09 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Sep 07, 2008 | Current |
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Purpose of loan: This loan will be used to consolidate my credit card debt. Due to unforeseen life events and emergencies, my credit card debt has become unwieldy. Some of my interest rates are quite high, so I am looking to get a loan so I can pay off the cards with the highest interest rates right away and then concentrate my efforts on the cards with the lower rates. My financial situation: Although my credit card debt is high, I have never defaulted on a loan or even made a late payment towards one. I strive each month to pay as much as I can over the minimums and have reduced my spending in other areas of my life to compensate. Monthly net income: $1650 Monthly expenses: Housing: $ 0 (I live with my partner and he covers the mortgage payment. In return, I pay the water bill, the electric bill, and purchase food for the two of us.) Insurance: $ 0 (my insurance is through my employer, so it is deducted directly from my paycheck) Car expenses: $ 100 (I own my car outright and it is older, so the insurance payments are low. I also take public transit into work every day, so my car is really only used on the weekends, keeping gas costs low.) Utilities: $ 250 (the electric bill averages $200/month and the water bill averages $40/month) Phone, cable, internet: $ 35 (cell phone) Food, entertainment: $ 500 Clothing, household expenses $ 100 Credit cards and other loans: $ 600 (I try to pay as much as I can toward the cards each month, so it varies) |
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