Relist, working to be debt free!
| Listing Information | |||
|---|---|---|---|
| Amount: | $17,400.00 | Status: | Loan created |
| Grade: | C | DTI: | 46% |
| Lender Rate: | 24% | Borrower: | msales07 |
| Finished | State: | AL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-05-31 | EricsCC ROI: | -31% |
| Status History | |
|---|---|
| May 31, 2007 | Current |
| Feb 15, 2008 | Late |
| Mar 01, 2008 | 1 month late |
| Apr 01, 2008 | 2 months late |
| May 01, 2008 | 3 months late |
| Jun 05, 2008 | 4+ months late |
|
Explanation of circumstances: Consolidating new business cost and home remodeling cost to pay off cards and loans quickly. Purpose of Loan: The purpose of our loan is to eliminate high interest cards and loans. Our goal is to be debt free within five years. We then hope to do a home addition as our family continues to grow. My wife and I opened a day spa about three years ago. We purchased a home in this historical district about the same time. With any business, we incurred cost of remodeling, as well as equipment cost. Our business has flourished through hard work, and we would like to pay it of in just three short years. Our home needed some updating as well, and we have finished all but the addition. We used a home equity line with a higher interest rate to complete our kitchen. I would like to free up my house with a separate loan, in case we ever wanted to sell. We are willing to pay a bit more interest in order to do this. This prosper loan would allow me to pay that off, and close that account. It would also consolidate our debt, therefore making things more manageable. I have some cards with lower interest rates that I can also flip some higher rate debt to. Then I plan to use the snowball effect to pay everything off. I have been studying Dave Ramsey?s books and have worked towards his goals over the past year. Now we want to put everything into motion and eliminate this debt. We are great candidates for this loan. We pay our bills on time, and pay all of them. We also have plenty of income to support our loan. We want to eliminate our debt as soon as possible. Occupation: sales rep. Length of employment: 13 years w/ PBS images Occupation 2: licensed cosmetologist, salon owner Length of employment: 11 years Current debts: 1) Account: cap one Amount 7400 Current interest rate: 17% 2) Account: HFC Amount 15000 Current interest rate: 22 % 3) Account: cap one Amount 1400 Current interest rate: 22% 4) Account: chase Amount 2000 Current interest rate: 20% 5) Account: direct merch. Amount 3300 Current interest 19%rate: Delinquencies 1) Account: none Present Budget Income: 7000.00 Pay Check: 3600.00 net Wife?s salary: 3400.00 net Expenses Loan Payments 330 Mortgage/ Rent: 1300 Utilities and Gas: 130 Car Notes: 436 Insurance: 106 Credit cards: 650 School Loan Food 150 Household/misc: 100.00 Total Expenses: 3202.00 Left Over: 398.00 Budget after Prosper Loan Prosper Payments: 699 Other Loan payments 50 Mortgage/ Rent: 1300 Utilities and Gas: 130 Car Notes: 436 Insurance: 106 Credit card1 School Loan Food 150 Household/misc: TOTAL EXPENSES: 2971.00 LEFT OVER: 629.00 Savings due to Prosper Loan: 231.00 to apply towards other debts. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 120381 | Goodbye credit cards. Hello home addition! | C | $18,500 @ 18% | Apr 07, 2007 | Withdrawn |
| 138549 | Working towards financial peace | C | $17,500 @ 21% | May 16, 2007 | Withdrawn |
| 140050 | Working towards financial peace | C | $17,500 @ 25% | May 19, 2007 | Withdrawn |
| 140273 | Working to be debt free! | C | $16,500 @ 23% | May 20, 2007 | Withdrawn |
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