Consolidating Debt - No Deliquencies
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 49% |
| Lender Rate: | 18% | Borrower: | GoIndians |
| Finished | State: | MI | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-05-02 | EricsCC ROI: | -62% |
| Status History | |
|---|---|
| May 04, 2007 | Current |
| Aug 17, 2007 | Late |
| Sep 03, 2007 | 1 month late |
| Oct 03, 2007 | 2 months late |
| Nov 03, 2007 | 3 months late |
| Dec 04, 2007 | 4+ months late |
| Jul 24, 2009 | Default |
|
Hi, My name is Dave. I am a casino host and have been employed by my current company for over 6 years. I have a college degree in business management. My wife works at the casino and she is also a singer. We will both have opportunites before the end of this year to be making more money at our jobs. We have been married for 3 1/2 years. We have one son. Like many newlyweds, we used our credit cards to purchase appliances, furniture, and other accessories for our house. We both had some debt before getting married. 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.We make decent money but many months, we don't have much to show for it because we are paying out so much in interest. We are looking to consolidate our debts to reduce our number of payments and get a better rate. In the last year, both of our cars broke down and we have since had to purchase some newer ones which in turn has taken away some of the money we were using to pay off our bills. We have sat down recently and created a new budget and plan so we can eliminate our credit card debts within 3-4 years. I am a man of very high morals and standards and I believe in keeping my word if I commit to something. I had borrowed $11000 when I was in college from a friend. I was able to pay him off in 4 years, which was the term of our agreement. I have never had any deliquent payments on my credit cards, car loans, or mortgage. 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 MBNA #1: $ 515 ($ 14300 at 28%) Will paydown Discover # 2: $ 150 ($ 4000 at 29.99%) Will payoff Chase # 3: $ 110 ($4000 at 27.24%) Will payoff Best Buy # 4: $ 75 ($2900 at 28%) National City # 5: $ 65 ($2450 at 24%) Chase # 6: $ 90 ($2400 at 28%) Total monthly expenses: $ 4355 Income $5000 - Expenses $ 4355 = $645 + we will be able to free up over $650 dollars from the Prosper loan to make our payment. Thanks for your support! |
| 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 |
| 123338 | Debt Consolidation - Payoff Car | D | $19,500 @ 21% | Apr 13, 2007 | Withdrawn |
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