$30,000 Debt Consolidation Loan in Youngstown Ohio
Our latest applicant is looking for a debt consolidation loan in the amount of $30,000. He lives in Youngstown , Ohio and works as an equipment operator on construction sites both as an operator of a grader as well as a back hoe that he owns. He is applying for the loan to consolidate his debts which consist of several credit card balances as well as a small loan that he also wants to consolidate into the mix.
He has an excellent credit rating. He has had debt in the past as well as his current loan and credit cards. These amounts have not been large amounts and he has never missed a payment as far as we can tell, which shows that he has a good record of always paying his bills.
What is interesting about this applicant is that he has the money to repay all of this debt if he wanted to use his emergency fund. He would prefer to take out a low interest loan instead of using his emergency fund. He considers this situation to not be an emergency and therefore he should not touch his savings. We concur with this approach, not just because it means more business, but we feel that everyone should have an emergency fund for emergencies.
This $30,000 debt consolidation loan will likely attract a number of lenders who may be interested in offering loans with competitive interest rates. This client is an excellent client and we expect no problems with his loan approval.
Debt Consolidation Loan Application and Processing Speed (when do you need the funds):: I would prefer to have this loan approved before the end of the month so that I can consolidate everything at that time.
Do you currently have a mortgage? :: No, I rent an apartment
Bank Name and Branch :: Charter One Liberty, Belmont Ave
What City/Town, State and County do you live in? :: Youngstown , Ohio
What is your employment field? :: Construction
Employment Position :: Grader Operator
When are you paid? (monthly/weekly/biweekly):: Weekly
Your credit rating to be – excellent, fair, or bad? :: Excellent as far as I know
How did you find us? :: Searching for debt consolidation loans online
How are you paid? (direct deposit/paper check):: Paper check paid by the CFO of the company
Gross Amount Per Paycheck :: $1050
Do you agree to have this information published online, without your PRIVATE information of course? :: Sure, no problem
Extra information here please (some detail):: I am looking for a $30,000 loan to help consolidate a lot of debt that I have accumulated over the past two years and reduce the interest that I am paying as well as the monthly payments. My debt is mainly credit card debt; however I also have a small loan that I would bring into this as well so that I end up with just one monthly payment and one low interest rate loan.
I have been a little foolish with the credit cards. It started slowly as most things do. I overspent one month and then could not pay the full balance at the end of the month. The next month there were more charges and slowly the balance grew until I was paying more interest than I was paying principle.
I just have to reduce this debt to zero and reduce the interest rate that I am paying on the credit card which as you probably know is very high. With a debt consolidation loan I should be paying a lot more of my principle and a lot less interest. I want to get back to zero debt which is where I was at two years ago and not have to make any monthly payments at all and not pay any interest what so ever.
Note to Lender:: my credit rating should be excellent. I only have two credit cards and I have never missed a payment on anything. I always pay my rent on time as well as my utility bills so If there is something wrong with my credit rating, I would really like to know about it.
Regarding my job, I am an equipment operator and work on construction sites. I have my own tractor with a back hoe and also operate a grader when needed. The grader is provided by the company I work for. When I use the back hoe, I bill them for my time as well as for the rental of the back hoe. I make pretty good money when I am working and also do not have much time off.
Occasionally we get laid off between one project finishing and another one starting, however this does not happen very often. I always pick up odd jobs when this happens and really I am never not working. I have an emergency fund saved up for any time I am out of work for a long time, but so far have not had to use it. I would prefer not to use if for this debt consolidation and would prefer to take out a loan instead. Can you help with this debt consolidation loan?
|Category: Home Mortgage Loan||APR %||APR %||APR %|
|Length of Term||5||10||15|
|Amount to be paid||$32,505.87||$34,606.62||$36,832.28|
|Total interest paid||$2,505.87||$4,606.62||$6,832.28|
|Paid per installment||$534.34||$284.44||$201.82|