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I have been happily married for 29 years with two grown children and one grandchild. Helping my two children out as they moved out on their own this past year has put us in a financial bind and we would like to pay off the debt we have incurred to assist them. We currently have $13,000 in credit card debt that was used to fund college expenses for our son, who graduated this month, and the interest rate on these cards is 22%. We also have $10,000 in personal loans taken out to get our daughter and grandchild relocated to Houston for a new job; these are at 21% interest rate. All of the above debt will be repaid with this loan, allowing us to make one payment and begin saving again for our future. I have been employed with a construction company for 10+ years and make $75,000 - $80,000 annually, bringing home at least $900 per week before overtime after taxes. Expenses are mortgage $782, utilities $250, cable/phones $200, insurance $350, car notes $617 and groceries $300. We are fully able to make the payments on this requested loan and hope to wipe out all the debt we have accrued. We recently refinanced our home at a lower interest rate so there are more than the usual number of inquiries on our credit report due to this re-fi. We look forward to working with a lender who can help us improve our current financial state. |
