Consolidating debt and buying a used car
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 31% |
| Lender Rate: | 13% | Borrower: | TWGator |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-09-16 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Sep 16, 2008 | Current |
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Purpose of loan: We are looking to completely pay off three of our higher interest rate cards and consolidate these payments into one. We also plan on taking $4000 of this money and, after selling both of our cars, buying a late-model, solid used car. Our cars are a combined 19 years old and, while they've been really great transportation, the maintenance costs are getting to be too much. In addition, now that my wife is a stay-at-home mommy, and I work nights, we really can't justify having two cars anymore. My financial situation: We are very responsible and pay our bills on time. While we've gotten into some trouble in the past with overextending credit (especially when we first got married...dumb!), we've worked very hard at making sure we are paying down our debts as much as we possibly can and, most importantly, paying on time. We've also established an emergency fund in savings, so any emergency situations are paid for with that rather than our credit cards. Besides my "paycheck" job, I also run a home business that we are working hard at, and my wife does odd jobs (data entry, administrative work) from home for cash. Monthly net income: $ 2200 Monthly expenses: $ Housing: $ 800 Insurance: $ 110 Car expenses: $ 150 Utilities: $ 175 Phone, cable, internet: $ 110 Food, entertainment: $ 200 Clothing, household expenses $ 50 Credit cards and other loans: $500 Other expenses: $ 100 |
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