Consolidating Credit Card Debt

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Listing Information
Amount: $3,001.00 Status: Loan created
Grade: E DTI: 14%
Lender Rate: 24% Borrower: bamagirl2382
Time Left: Finished State: GA
Funded: 100% Group: PsychDoc's Group
Loan Information
Loan Status: Default Origination Date: 2006-05-10 EricsCC ROI: -77%
Status History
Jul 12, 2006 Current
Nov 25, 2006 Late
Dec 05, 2006 Current
Dec 05, 2006 Late
Dec 12, 2006 1 month late
Jan 12, 2007 2 months late
Feb 15, 2007 3+ months late
Jun 01, 2007 Default
    Hello everyone! My name is Stacey and I live just outside of Atlanta with my husband and 7 year old son. I included a picture of my family at my recent college graduation in which I obtained my Bachelors of Science degree in Event Management. After graduation, I took a little time to find the right company/employer to work for because I wanted to find the right "fit" since I planned on being with them for a very long time. I now work for a great event management company in Atlanta that has been around planning major events in Atlanta since 1968. 

    I  am looking for a loan to pay off my 3 credit cards in order to lower my utilization on my revolving cards. I really believe that an installment loan is the best way to go since I know that it will be paid off within a defined time period. I do not like to carry a balance on my credit cards usually but I ended up having to use them a little more than I prefer to during the time I was finishing my course work while in college. Now that I have obtained my degree and a great job, I am ready to obtain a loan to pay them off. 

    I can say that I have a great family, my college degree, and a fabulous job. However, there are reasons why my credit score has the rating it does and I take responsibility for it. My situation started 5 years ago when I went through a very bad marriage that ended in divorce and lost my job due to the company that I worked for going out of business. After my ex-husband left, I had to figure out a way to pay the mortgage, car payments, household bills, and credit cards on my own. It took a little time to find a new job and I had to accept that it did not pay as well as my previous job did. I paid what I could but I soon realized that I was in over my head and could not afford everything that I was obligated to pay. I learned my first tough lesson about credit responsibility at that point. I realized that I made a major mistake by obtaining a lot of credit in my name only during my former marriage since I was the one that was solely responsible for it in the long run even. My credit cards, car payments, and other obligations started to fall behind and I had to make a decision about what to do. As much as I loved owning my own home, I realized that I could not afford it on my own. I do admit that I was devastated when I sold my home. However, I knew that if I was going to climb out of the hole that I got myself in, then I had to make some responsible decisions including selling the house. I continued on to raise my son as a single mom, work full-time, and went to college at night until I received my degree. I eventually met a great person and the rest is history. 

    I believe that I am a good candidate for this loan because I have learned the hard lessons about using credit loosely and I will never allow myself to do that again. I have gained a lot of great knowledge the hard way but I can say that it stays with me every time I make a financial decision. I have worked to raise my credit scores up and I still understand that I have a long way to go. I believe that paying off my 3 credit cards and making payments on an installment loan until it is paid off, will definitely help my scores in the future. 

    I pledge that all loan payments would be made on time because I would set the payments up to be withdrawn automatically every month out of my bank account by Prosper. I know that second chances are hard to come by and I would take this one to heart.
Borrower's Other Listings
7559 Bill Consolidation E $3,001 @ 24% Apr 25, 2006 Withdrawn
10165 I Want to Consolidate Credit Cards E $3,001 @ 23% May 01, 2006 Withdrawn

 

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