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I am in the process of consolidating some higher interest debt on some cards I no longer carry. I have "A" credit but did have some blemishes 5 years ago. I have not had a late pay or any problems in 5 years. 5 years ago my wife was diagnosed with bi-polar. After 3 attempted suicides she left her job and we went through some financial difficulties. She is now permanently and totally disabled and we do fine on just one income. 5 years ago it was a bit different to have the household income cut by 40%, it was not something I was prepared for. Since that time I have opened my own business and after 3 years have more than 1 million dollars in annual written premium. We will not have difficulties again as I have covered myself with long term disability, short term disability, life and long term care insurance (it helps that I am an insurance agent!). I will use this loan to pay off three higher rate cards which will not only save me the interest but also give me a lower monthly payment than I have now with the three cards. You will see a number of inquiries this year, we refinanced our home and one of the mortgage brokers took it upon himself to pull our credit every few days. Once I became aware of the situation I switched to another broker. Thank you for your consideration! |
