Debt Consolidation Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $22,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 20% |
| Lender Rate: | 10% | Borrower: | 22807 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-03-26 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Mar 24, 2007 | Current |
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After some very helpful advice from Prosper-ites, I have decided to re-list this loan request. Thanks to all those who offered advice! One of the suggestions was adding a picture. Well, at least one of my co-workers knows about Prosper - and I just don't like co-workers knowing all my business - I hope you can understand. But I've included a picture here that captures my ambition: to squirrel away enough money to ensure a stable financial future. I've also increased the initial interest rate I can live with. And here are the interest rates and payment amounts on my current debt which totals about $21,000: BofA Visa: 21% = $450 Amex Blue: 14% = $100 US Bank Visa: 19% = $200 I pay more mow than the Prosper loan's minimum payment would be and I've never been late on a payment. My monthly payments have been more than the minimums in order to pay off as soon as possible. But Prosper's 3-year repayment schedule is a much better choice and gets me in the black much sooner. Finally, I've worked at my current job for 10 years with no plans to leave. My April job review should increase my pay by at least CPI plus one so I'll have even more funds available to continue making regular payments on this loan. That's about all I have. Below is some of the language for the loan I originally listed. Everything there is still valid. Thanks again for all the help with this listing! Original listing starts here: As I write this, my heart is pounding out of my chest because I'm a little embarrassed to be here. See, I have not been through the hardships that other Prosper-ites have had to endure. Some of the stories here bring tears to my eyes. People are pulling themselves up from terrible places, doing things I'm not sure I have the courage or strength to do! All I've know for the past couple of decades since I graduated from college is how to keep my head down and work every day. Through hard work and good luck I've managed to land a good job, a beautiful wife, a wonderful son and there are only a few things that sit in the back of my head at night. One of them is my debt. I've got far more debt than I'm happy with (and I take full responsibility for getting myself here). None of the expenses were frivolous (helping pay for a wedding, my parent's bills, in-vitro costs that resulted in our son). But every bit accumulates. And that's what I want to stave off for the future, more accumulation. If I pay the monthly minimum, I'll make credit card payments for many more years than if I take a leap of faith with the Prosper community (and hope they'll do the same with me). With a Prosper loan, I can pay everything off sooner and start re-routing some leftover income to other areas of my life. Like more funding for my son's education, putting more into savings and helping pay for more of my parent's health care. All my card payments are manageable at this time, but I can foresee a time when living expenses and those little surprises (that some people on Prosper have already been hit with) create an environment where manageable debt suddenly becomes a burden. All of us have things we would do differently if we could do them over. But few of us get the chance to avoid them in the first place. I'm trying to create the opportunity to head something off at the pass. That's all I've got. I'm just your average guy (with a better than average run of luck) whose trying to keep it that way. Thank you fo |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 104598 | Debt Consolidation Loan | AA | $22,000 @ 9% | Feb 28, 2007 | Withdrawn |
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