Need to lower rates, great payment history (16% actual D:I)
| Listing Information |
| Amount: | $6,000.00 |
Status: | Loan created |
| Grade: | D |
DTI: | 26% |
| Lender Rate: | 14% |
Borrower: |
Bellegal
|
| Time Left: | Finished |
State: | IL |
| Funded: | 100% |
Group: |
(No Group) |
| Loan Information |
| Loan Status:
| Current |
Origination Date:
| 2007-01-31 |
EricsCC ROI:
| 10% |
| Status History |
| Feb 01, 2007 |
Current |
|
Hi and thanks for reading my request. I had some trouble inputting and my debt to income went from 16% to over 20%...argh! A friend told me about this site, and I thought I?d give it a try. I?ll tell you what brought me here. A little over two years ago, I bought my first condo with a great fixed rate thanks to a credit score over 720 (in the A range). I took out a home equity line of credit ? only what I needed ? to do a few updates on my place. I then transferred some credit card balances to a 0% card, which would convert to a 7.9% rate after a year. I knew having one card with a high balance versus several cards carrying less than a 50% balance would impact my credit score, but I didn?t think it would be a big deal at the time. I then traded my SUV in for a more economical (but new) car. I was planning a big vacation, and had put the deposit for the trip on my debit card, in an effort to keep down my overall credit card balances, but told the travel agency I would like to put the rest on my credit card (which had a 9000 limit and an 8% rate), but they ended up charging my debit card for the remainder instead of my credit card. The timing was horrible, as this nearly wiped out my bank account and I had the usual bills to pay AND my property taxes were due. At that time, due to an oversight on my part, I had not updated my online banking and I missed one payment on two credit cards (I have four total). They both increased my rate to over 30%, and the one with the 9000 limit reduced my limit to what I owed on the card. So now the only cards with any available credit had high rates, I owed 3000 in property taxes, was going on an Alaskan Cruise (if I had trip insurance, I would have tried to cancel) and had only cash on hand and a high interest credit card to use. I struggled for a few months, and worked extra weekend hours every weekend for several months, and I?ve been making my bills, but it?s very tight and I?m not making much headway due to the high interest rates. My credit score has plummeted and I have not been able to obtain respectable financing (when trying to refinance my home equity line, I was only offered a refi on my first mortgage which would have cost me an extra 4000 in interest a year). I had set my sights on upgrading to a house in the next year or two, but I can?t even begin to think of it until I get these credit cards paid off. The worst part is, even though I?ve ALWAYS paid on time, a third card increased my rate based on a review of my file. I?m frustrated and just need a break. I?d like to get myself back in good financial shape and my credit score back on track so I can start thinking about that house. I have a great job, and a great payment history overall. I?d appreciate someone considering my situation and not just my credit score. Thanks for reading! |
| Borrower's Other Listings |
| 86976 |
Need to lower rates, great payment history! |
D |
$6,000 @ 17% |
Jan 20, 2007 |
Withdrawn |
| 278009 |
Current on 1st Prosper loan, need to consolidate some CCs |
D |
$6,000 @ 15% |
Feb 10, 2008 |
Expired |
|
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