Tranfer balance from Chase Credit Card
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,500.00 | Status: | Loan created |
| Grade: | B | DTI: | 19% |
| Lender Rate: | 14% | Borrower: | Tico_75 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-01 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Sep 30, 2008 | Current |
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Purpose of loan: After closing this Chase credit card, my apr increased astronomically. Therefore, I want to increase my monthly payments and pay it faster. I have a budget of $450 per month to repay this loan and my goal is pay it in about a year. For instance, a 10% apr loan will be repaid in 1.08 years at $449.48 per month. Just like many Americans, I made some mistakes, but I learned from them and I am eager to become debt free in 2.5 years. In the past, I closed my credit accounts (Big mistake) and didn't have a well balanced budget. Today, I carry an updated spreadsheet where I track all my income and expenses religiously. Also, my 401k is getting a 8% montly contribution plus company match. I am achieving my goals and I am moving forward. My financial situation: I am a project engineer with 7 years of experience in consulting engineering (MEP) and 3 years at my present position. We specialize on healthcare and commercial projects throughout the USA. Also, I volunteer at our local engineering chapter and I am a member of the board of directors (4 years). Needless to say, I have a stable position. Monthly net income: $ 3,400 after taxes and deductions (It includes life insurance- 2x my salary plus 50k, BCBS PPO insurance and pre tax transportation) This amount doesn't include 4% of yearly salary in bonuses. Monthly expenses: Housing: $ 850 *** Car Insurance: $120 (great coverage) *** Cell: $50 *** Cooking Gas (Heat is included): $20 Electricity: $25 *** Groceries/Food: $400 (varies) *** Public Transportation: Deducted monthly on pre-tax program *** Gasoline: $100 (I live in a urban area and barely seldom drive it) Sub-total: $1,465, no kids or dependants. Entertainment and clothing vary depending on the occasions. I work hard for my money and I take care of myself and my family as required, so this amount varies. Call it $400 to $600 Present loans and credit: Total $865 Chase: $200, this will be paid with this loan. US Bank: $100 BoA: $350 BoA #2: $200 I hope to do business with you, please contact me if you have any questions, Thank you, |
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