Furniture/Appliance
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 26% |
| Lender Rate: | 15% | Borrower: | RightDirection |
| Finished | State: | GA | |
| Funded: | 100% | Group: | Vets helping Vets |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-04-12 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Apr 11, 2007 | Current |
|
The purpose of this loan request is to get out from under a high interest rate loan that I took out to buy furniture. A brief history/summary follows: I separated from active duty Air Force after serving ten years. All of my service time was spent overseas, so my wife and I had base loaner furniture and appliances. After I got out, we went a little crazy and bought all brand new furniture/appliances on one of those 3-year, no interest plans. Unfortunately, I never paid the balance off and am now stuck with a 24% interest rate on the balance of the loan ($9000). One might not think you could do much growing up in three years, but that experience taught me a lot and I?m bound and determined to get this loan paid off and not get myself sucked into something so stupid, ever again. At the time I bought the furniture, I was making $57K/year. My wife and I bought a house (in Texas) and thought we had our budget figured out until I figured in property taxes and lots of other small bills that seemed to pile up (including gas and fuel costs). Suddenly, we were wracking up debt. I ended up taking a job in Iraq and paid off most of the debt we had accumulated. I am left with the furniture/appliance loan and a credit card. I am also now making $80K/year (about $4400/month after taxes). We also have moved and now have renters in our home, with the monthly rent equaling the mortgage payment. Our monthly bills include: -$800 ? apartment rent and utilities -$270 ? credit card minimum -$550 ? truck payment -$400 ? minimum payment on furniture/appliance loan (Citifinancial loan to be replaced by prosper loan) As you can see, my credit rating is still ?C?, but we are in a much better position now than we were just less than a year ago. I would have no problem making payments on this loan? in fact, I would hope to pay it off rather quickly. I can still do the same on the loan as it stands now, but I absolutely hate knowing that I?m sitting at a ridiculous 24% interest rate. I appreciate your consideration and welcome any questions. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 106858 | Furniture | C | $9,000 @ 13% | Mar 05, 2007 | Withdrawn |
| 107183 | Furniture | C | $8,000 @ 15% | Mar 06, 2007 | Withdrawn |
| 109021 | Furniture | C | $8,000 @ 17% | Mar 09, 2007 | Expired |
| 233555 | Credit Card | D | $10,000 @ 8% | Nov 18, 2007 | Withdrawn |
| 233860 | Credit Card loan xfer to prosper | D | $10,000 @ 8% | Nov 18, 2007 | Withdrawn |
| 278564 | High-interest loan xfer to prosper | D | $3,000 @ 8% | Feb 11, 2008 | Expired |
| 346895 | High-interest loan xfer to prosper | D | $10,000 @ 9% | Jun 08, 2008 | Expired |
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