Debt Consolidation - Payoff Car
| Listing Information | |||
|---|---|---|---|
| Amount: | $19,500.00 | Status: | Withdrawn |
| Grade: | D | DTI: | 56% |
| Lender Rate: | 21% | Borrower: | GoIndians |
| Finished | State: | MI | |
| Funded: | 4% | Group: | No Bull Investors - We Invest In Good Borrowers |
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Purpose of loan: My wife and I will be using the money to payoff a few of our high interest rate credit cards and hopefully payoff one of our cars. With the lower rates and payoff, we are hoping to get on track to be out of debt in 3-4 years. At that time, we would like to be able to help other on Prosper that may be in a similar situation that we were in. Our financial situation: I believe that I am a good candidate because in over 7 years, I have never had a payment go over 30 days late. I borrowed $11000 from a friend for college years ago and I was able to pay him off in 4 years. Now I am making more money. My wife and I should both have opportunities by the end of this year to be making more money also. Our monthly budget: Net income $5000 a month Mortgage/rent: $ 1400 Insurance: $ 200 Car 1: $ 350 $3000 still due Will payoff Car 2: $ 200 Utilities: $ 200 Phone, cable, internet: $ 350 Food, entertainment: $ 300 Gas: $ 350 Credit card #1: $ 515 ($ 14300 at 28%) Credit card # 2: $ 150 ($ 4000 at 29.99%) Will payoff Credit card # 3: $ 110 ($4000 at 27.24%) Will payoff Credit card # 4: $ 75 ($2900 at 28%) Will payoff Credit card # 5: $ 65 ($2450 at 24%) Will payoff Credit card # 6: $ 90 ($2400 at 28%) Will payoff Total monthly expenses: $ 4355 Income $5000 - Expenses $ 4355 = $645 By paying off the proposed debts, it will free up another $840 a month that we can use to pay our loan and other debts down. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 121023 | Taking Control - Please Help! | D | $25,000 @ 15% | Apr 09, 2007 | Withdrawn |
| 121107 | Debt Consolidation - Taking Control | D | $25,000 @ 15% | Apr 09, 2007 | Withdrawn |
| 124710 | Consolidating Debt - No Deliquencies | D | $12,500 @ 18% | Apr 17, 2007 | Loan created |
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