Win/Win: Not Your Average Listing

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Listing Information
Amount: $4,215.00 Status: Loan created
Grade: D DTI: 44%
Lender Rate: 11% Borrower: YourAverageJane
Time Left: Finished State: NY
Funded: 100% Group: Bald Eagle Loans
Loan Information
Loan Status: Paid Origination Date: 2007-03-02 EricsCC ROI: 11%
Status History
Mar 03, 2007 Current
Oct 03, 2009 Payoff in progress
Oct 08, 2009 Paid
Reason for Loan request
I am requesting a Prosper loan to consolidate 4 of my highest APR cards. By doing this, I will save $651.85 in interest. I will also be reducing time when these cards are paid off. If I make my min. payments on these cards, it will take me over 4 yrs to pay them off. With the Prosper loan, I will have them paid off within 3 yrs. However, I will most likely pay off the Prosper loan within 2 yrs and just being honest about this. Lenders will still receive 2 yrs worth of interest from this loan. I have been a member of Prosper since April 2006.
 
My Prosper discussion forum name is also YourAverageJane. If you review my posts, they reflect my honesty and personality.

Personal/Employment
I am single without children. I work in the student loan business full time(re-hired in Dec 2006. previously worked there 2001-2003) and also work as a pharmacy technician part time(started in 1995). I was full time as a pharmacy tech for 10 of the 12 yrs, 2 yrs has been part time. I went to part time status as a pharmacy tech when I worked in the student loan job 2001-2003, and went back to part time again in December 2006 when I was re-hired at the student loan job. My work ethic at both jobs has always been exceptional & my long term employment shows that. I listed my student loan job as my primary job since its full time and the 2 months employed reflects my rehire date of Dec. 2006.

Inquiries in last 6 months
1. My inquiries in the last 6 months are from: Citibank credit line increase(I asked for it in case I wanted to do a balance transfer to Citi card).
2. I applied for a personal loan with my bank to consolidate my cards, however they said the loan will be approved with a co-signer and I declined the loan due to that I wanted to do it on my own
3. I applied and received an Amazon.com card in October which offered a $30 credit, so I ordered a DVD and got the DVD free due to the credit. I have no balance on this card besides the credit.

DTI
My DTI is higher than what it truly should be due to I used my income before I was rehired at my student loan job, I wanted to use the lower amt for ease of Prosper verification purposes(lower you list your income, the easier it is to verify even if you make more now).

Income
Monthly Full time job: $1457 (after taxes/deductions)
Monthly Part time job: $200 (after taxes/deductions)
=$1657

Before Prosper loan expenses
Rent: $450 (my share of rent/utilities/food-my mother and brother live with me)
Car insurance: $39 (Erie Insurance)
Gas: $45 (Saturn 4 cylinder, great on gas!!)
Cell phone: $45 (Sprint)
DSL: $14.95 (Verizon)
Discover: $91(14.99%) Balance=$4513
Household Bank: $83 (18.9%) Balance=$3289 Will be paid off with Prosper loan
Washington Mutual: $42 (9.99%) Balance=$2,022
Citicard: $36 (14.24%) Balance=$1,557
Avenue: $10 (22.8%) Balance=$210 Will be paid off with Prosper loan
Bank Of America: $15 (19.24%) Balance=$330 Will be paid off with Prosper loan
Capital One: $15 (19.15%) Balance=$310 Will be paid off with Prosper loan
Misc.: $100
Donations/Charity: $50
Prosper Lending: $50
=$1085.95

Income $1657 ? Expenses $1085.95 = $571.05
Of this amount leftover I put $100 in savings/emergency fund

After Prosper Loan expenses
All same but minus cards paid off and extra $25 due to Prosper loan payment
Income $1657 ? Expenses $1110.95 = $546.05
Of this amount leftover I will put $100 in savings/emergency fund
Of this amount I will apply an extra $100 to my highest APR card to rolldown debt

Thank you for your consideration and thanks to
Borrower's Other Listings
7376 Consolidating Cards D $3,000 @ 11% Apr 24, 2006 Withdrawn
51770 Pay off high interest cards E $4,500 @ 15% Oct 22, 2006 Withdrawn

 

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