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My reason for this loan is to pay off a high interest credit card. The rate I am paying now is 29.99%. I have been able to make the payments, but am trying to get a better rate. I owe $6112.41. The loan would be used to pay off this card. My credit report has a few errors, some accounts have been closed for a few years and some are listed as joint accounts from a previous marriage. I can explain these in detail if necessary. The report also shows my Chase account in good standing, but I have been late with payment in the last year, which is why my rate is at 29.99%. I have tried to get it reduced but they say I have to wait. My Credit report shows my payment history is pretty good, but I have a lot credit card debt. I am an Independent Insurance Agent and took out some line of credit loans to purchase some equipment and also do some advertising and purchase leads. I am trying to repay these loans by working a full job as a Route Manager, delivering food to homes and businesses, and also building my insurance agency. Monthly Budget Expenses Rent 700.00 Life Insurance 164.00 Auto/Home Insurance 66.00 Boat Payment 184.00 Gas 129.00 Electric 67.00 Home Phone 100.00 Cell Phone 89.00 Garbage Pickup 30.00 Office Equipment Payment 85.00 Gas for car 140.00 Bally Health Club 12.00 Food 150.00 Entertainment 50.00 $1966.00 Balance Interest Rate National City Bank 50.00 $1837.32 12.75 US Bank 141.00 5626.94 16.25 Chase 214.00 6112.41 29.99 Sears 32.00 1047.83 25.40 American Express 66.00 3298.88 18.24 Capital One 75.00 2527.79 12.18 MBNA 330.00 14781.05 11.99 $ 908.00 $35232.22 Income Schwan's Commission Year to date $27,105.50 Insurance Independent Agent Commission 4,464.00 $31,569.50 I have recently left Schwan's to focus on my Insurance Agency. My reason for this was the potential income is much greater in the Insurance than in home delivery. The reason the income is greater from Schwan's is because I was working 12 to 14 hours a day, and had little time to work the insurance. |
