Payoff High Interest Rate Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 38% |
| Lender Rate: | 13% | Borrower: | Timely_Payments |
| Finished | State: | FL | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-08-21 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Aug 27, 2007 | Current |
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Purpose of loan: I will be using this loan to pay down my high interest credit card debt. I have listed the 4 cards I will pay off below. My financial situation: Aside from the lease on my apartment, I owe $20,200 in credit card debt. I also have a student loan with deductible interest that costs $30 dollars a month. I do not have a mortgage, car loan, or other expense. I have been steadily employed by a Fortune 500 company for the last 4 1/2 years. Each year, I have earned a raise. I have an MBA, as well as an AS degree in database technology. For the last 15 years, I have made timely payments on a debt that often equaled my income. I have never been in bankruptcy. I recently paid off my first Prosper loan in 1 years time. My credit rating is proof of my shouldering this debt successfully. I do seem to have a bad debt of $26 on my credit report. I charged a shirt on sale ($10) at JC Penny and they never sent me a bill. With so many bills, I forgot about it, until Fidelity sent me to the 26% rate on a debt that was, at the time, over $6000. I paid JC Penny as soon as I found out - was it last December? - and its still sitting there on my credit report. Why let the credit card companies make so much money off of me when you can get a great rate lending to a very responsible borrower? After so many years of making timely payments, I think the risk you take in lending to me is well worth the return. Monthly net income: $ 2250 Monthly expenses: $ Housing: $ 650 Insurance: $ 60 Car expenses: $ 60 Utilities: $ 60 Phone, cable, internet: $ 40 Food, entertainment: $ 300 Clothing, household expenses $50 Credit cards and other loans: $ Fidelity Credit Card bal $4409.43 Monthly $138 Interest Rate 26% - Pay off with this loan $ AT&T Credit Card bal $6393.10 Monthly $186 Interest Rate 20.3% - Pay off with this loan $ Sears Credit Card bal. $4860.64 Monthly $133 Interest Rate 19.67% $ NextCard Credit Card bal. $2489.12 Monthly $50 Interest Rate 22.3% Other expenses: $ 90 credit cards with small balances Free Cash Flow: $427 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 18876 | Pay off 30% credit card | B | $1,000 @ 12% | Jun 10, 2006 | Loan created |
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