Credit card consolidation
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|Loan Status:||Paid||Origination Date:||2010-03-29||EricsCC ROI:||19%|
|Mar 27, 2010||Current|
|Apr 10, 2010||Payoff in progress|
|Apr 17, 2010||Paid|
Purpose of loan:
I've worked in television and film for my whole career. I recently took a new job as an Account Manager at Rule Boston Camera which is the largest rental house in New England and has been in business for over 20 years. My salary is just under $40,000 and I make 10% commission on sales. I sell television, video and film equipment to television stations, video production companies, advertising agencies and filmmakers. Rule Boston Camera recently expanded its sales division, so I was hired to get out there and bring in business. I'm currently the project manager on the design and installation of television stations in the Boston area. My job is secure and I'll be growing my income through 2010-11.
In addition to working at Rule, I also own 2 rental properties located on my primary residence. These 2 rentals create an additional $1800/mo. income. In 2007-08 I used a home equity loan to fund the construction of these rental properties and I have an interest rate which is very low (currently %2.7!). The payment is $325/mo., yet my income from it is $1800/mo. with the rentals...so about $1500/mo. cash flow.
My goal is to consolidate credit card debt which I acquired when doing the construction. My hobby is studying finance, so in the past 2 years I've spent a lot of free time learning about assets and debt. I understand your role and mine in this loan. Thank you for your consideration.
My financial situation:
I'm very responsible, have paid every bill I've ever had since I was 16 years old (I'm 37) and try to learn from my mistakes.
Monthly net income: $
Between my day job and rental income I bring home roughly $3500/mo. without any commissions.
Monthly expenses: $
Housing: $ 1060 ($735/1st mortgage plus $325/equity loan)
Insurance: $ 55 (car insurance)
Car expenses: $ 0 (I own my car)
Utilities: $ 75 (give or take)
Phone, cable, internet: $ 55 (my job pays for my cell)
Food, entertainment: $ 375 (I'm a vegan and frugal)
Clothing, household expenses $ 50 (roughly)
Credit cards and other loans: $ 275 (roughly)
Other expenses: $ 100 (roughly)
|Borrower's Other Listings|
|447511||Credit card consolidation||C||$15,000 @ 26%||Feb 22, 2010||Expired|
|448738||Credit card consolidation||C||$9,500 @ 28%||Mar 03, 2010||Expired|