Questionable credit card practice
| Listing Information |
| Amount: | $10,250.00 |
Status: | Loan created |
| Grade: | AA |
DTI: | 39% |
| Lender Rate: | 10% |
Borrower: |
jujbc
|
| Time Left: | Finished |
State: | WY |
| Funded: | 100% |
Group: |
(No Group) |
| Loan Information |
| Loan Status:
| Current |
Origination Date:
| 2006-12-27 |
EricsCC ROI:
| 7% |
| Status History |
| Dec 24, 2006 |
Current |
|
I am requesting this amount to pay off and close a credit card I have had since 1990. My wife was listed as a co-user on this card. A year and a half ago she co-signed for an auto loan with my son. Due to two misdirected payments, her credit report is now showing a 60 day delinquency. As soon as we were contacted the loan was brought up to date by debiting the amount from our checking account. Due to this delinquency, the issuing bank has raised my interest from 12% to 30%. I have paid on this card diligently and have never had a late payment. When contacted, they were steadfast in this questionable practice. I work three jobs. One full-time job that I have 20 years of service in. One salaried part-time job that I have been working for 18 years, and an hourly paying job that I have worked for 14 months. My income is steady. Rather than transfer this balance, financially it makes more sense to assume a loan and have this debt paid off in three years. If I receive this loan, my debt ratio will not change as I will be applying it directly to remove an existing debt. Thank you for your consideration. |
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