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|Loan Status:||Paid||Origination Date:||2007-02-23||EricsCC ROI:||14%|
|Feb 22, 2007||Current|
|Feb 14, 2010||Payoff in progress|
|Feb 20, 2010||Paid|
Monthly Average Income: $2300 Employment, $320 Non-Taxable Child Support, Variable/Seasonal Hobby Horse Business
DW Mobile Home Paid For, Monthly Lot Rent and Utilities: $550
Monthly Car Payment and Insurance: $338
Groceries and Gas: $560
Current Credit Card Payments: $600
Free Cash Flow: $572
With Loan, Debt Payments: $290 + $175 = $465
With Loan, Free Cash Flow: $700
My income varies according to a 32-40 hour work week. Figure above is average monthly. The child support I receive is for years past. There is still a $40,000 balance owing on it and I have no reason to believe it won't continue.
The $8000 will pay off most of my credit card debt with the remaining balance transferred at very little or no interest. My DTI will not increase as every dime of this loan will be used to discharge debt.
My credit reports list a $4500 Discover Card balance which is not my own. I am the authorized user in order to assist my neighbor with errands. While my DTI remains high, please consider this. As far as I know, there is no record of late payments and I have asked to be removed from this account.
Your consideration of a loan will enable me to pay off this consumer debt at a lower rate of interest and far more quickly than I can otherwise do. I would like to be able to adequately plan for retirement. I do not have a matching 401K but am dedicated to the patients and staff I work with. The 401K has not performed well and I would like to explore other options-I qualify for catch up contributions now. I would also like to be in a position to more generously provide care for my aging parents as the need arises.
I have provided a home and support for my oldest daughter and her 3 children for the last 5 years. That has very gladly recently resolved and my resources are not so overtaxed. I also provide a home for my mildly disabled younger daughter who now has her own small income and insurance. Now that I am no longer the primary caretaker of so many, I can assume a 2d job and I have 5 applications pending. The after Christmas slow hiring season should end in a few weeks.
I maintain disability insurance as well as a life insurance policy. I have maintained the same bank account for 15 years. My earnings are directly credited to my account and I anticipate repayment of this loan to be directly debited every two weeks. I purchased a 5 year old SUV, necessary for winter driving in this area, at a 7% interest rate in May 2006 through my bank. I like to think the rate is indicative of my accountability despite my credit rating. My employer reimburses usage of my car enough to cover my car insurance monthly.
I live simply. I have learned to say no to my adult children. I will assume a suitable 2d job. I am healthy and have stable full time employment. I wear medical scrubs or jeans and cowboy boots and so have no maven tendencies to oeverspending on wardrobe. I have learned a great deal these last few years about my own personal limitations. While I was not responsible about creating this debt, I have been responsible in honoring it.
My thanks for your consideration of my application.
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|97178||Resource Consolidation||C||$6,500 @ 14%||Feb 10, 2007||Withdrawn|