Operation: Elimination
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 22% |
| Lender Rate: | 18% | Borrower: | mmjcarr |
| Finished | State: | MN | |
| Funded: | 100% | Group: | Have Money - Will Bid |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-06-08 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Jun 09, 2007 | Current |
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Hello and thank you for viewing my listing. We are a young family that hopes to start working towards our goal of home ownership. The first step in reaching our goals is to pay-off and eliminate high interest credit cards and a credit line. My husband and I are well educated, professional and career oriented with the passion to succeed. We accumulated a large balance on our Citibank card 2 years ago when we chose to relocate our family from Northern California to Minnesota. We chose to leave California because of the high cost of living and wanted to raise our son in a more positive environment. We don?t feel that are credit is necessarily ?bad? we just need to eliminate our credit card and installment loan debts as they are all pretty close to their limits. I only have one delinquency on my entire credit profile which is currently in dispute with Pacific Gas & Electric in California. I would use the Prosper Loan to pay off the following credit cards and line of credit: Citibank Mastercard: $5,513.98 Capital One: $920.44 Direct Merchants Bank: $689.57 Wal-Mart: $240.61 Sam?s Club: $703.28 Bill Me Later: $1,166.47 Dell: $452.55 Washington Mutual Bank: $485.76 Total Debt Eliminated: $10,172.66 I?m an Executive Assistant with a local property management company and my husband is a project manager at a large financial institution. We both have been in our current positions for almost two years (since we?ve been in Minnesota) and prior to that we both had a long employment history with Washington Mutual Bank in California. Our current monthly net income is $5,200.00 (Approx) Here's my monthly budget with the prosper loan in place: $956.00 - Rent $0.00 - Electricity (included in rent) $150.00 - Telephone, Internet, Cable $578.00 - Car Payment (two cars) $130.00 - Insurance $300.00 - Gas (two cars, monthly) $0.00 - Other Credit Cards Not paid off with loan (we will be debt free other than this Prosper loan) $200.00 - Groceries $250.00 - Recreation $780.00 ? Child Care (this will be reduced by $410.00 this September) $431.56 ? Prosper Loan ($11,000.00 @ 24.00 % Interest for 36 Months) $3,775.56 - total monthly expenditures As you can see, we have over $1,400.00 left over to be used, not only for my Prosper Payment, but for savings and emergencies so that we never get into this situation again. We can start to build a stronger financial situation for our family. This will also allow lead us down the path of achieving our goal by eliminating our unnecessary debt and saving some money along the way. We have learned our lessons and promise that our payments to Prosper will be our top priority each month. In fact, I am going to have Prosper automatically withdraw my payments each month so that everyone knows that our payment will be made on time, every time. I'm not about to make a mistake with this opportunity and we have learned our lessons. Thanks again for viewing my listing! |
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