College debt consolidation - escaping high interest rate
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 24% |
| Lender Rate: | 10% | Borrower: | Cascada |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-08-21 | EricsCC ROI: | -66% |
| Status History | |
|---|---|
| Aug 27, 2007 | Current |
| Aug 06, 2008 | Late |
| Aug 22, 2008 | 1 month late |
| Sep 22, 2008 | 2 months late |
| Oct 22, 2008 | 3 months late |
| Nov 22, 2008 | 4+ months late |
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Purpose of loan: I have several loans left to pay off after graduating from the University of Illinois, and they all have pretty high interest rates. I'd like to consolidate them so that I have one loan to pay off through Prosper, hopefully with a lower interest rate. My financial situation: Now that I have graduated with my Bachelor's Degree, I am a full-time employee at one of the biggest insurance companies in the country. I am in a position to pay off my credit card loans without using them any longer, which has been my goal for a long time. Monthly net income: $2,540 Monthly expenses: $1,855 Housing: $655 Insurance: $120 Car expenses: $350 Utilities: $100 Phone, cable, internet: $60 Food, entertainment: $200 Clothing, household expenses $150 Credit cards and other loans: $120 Other expenses: $100 (for medical purposes) My monthly expenses leave me with about $500 monthly, which will be enough for me to pay my Prosper bill reliably. I also take on occasional freelance work, which provides financial cushion and will hopefully begin to be more of an opportunity to start saving instead of pouring towards the high interest credit cards. I will be very grateful for any help that I can find on Prosper. Thank you in advance. |
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