Eric's Credit Community

Purpose of loan:

I am 63 years old and I realize that I am about ready for retirement, I really don't feel like having an enormous amount of debt going into it and with the interest rate on my cards it feels ever hopeless of paying it off before I kick the bucket. So the bulk of this loan would be going toward paying off my one enormous high interest credit card. The other small portion is being used to buy my grandson a gently used car. I haven?t seen him since he was 13 and before that 4 yrs old. His father and I had a rocky past and his divorce from my daughter made it near impossible to see him or my granddaughter. He has finally come around and I want to get him something to make up for all those birthdays and Christmas?s we?ve been apart. And to show him that I have always loved him, and will always.

My financial situation:

I have always been frugal with money and have been at my job for well over 30 years. As the ?s Assistant and with the tenure I have established, it will be my choice when to retire and until then I will always have my job available to me. So in other words I will always have a steady income. As my mother told me it is useless to amass a lot of property that you will never use. So I own very few things and as such have no really big expenses. I would have no problem paying off this loan and then retiring in 5 or 6 years at ease without my finances burdening my enjoyment of retirement.

Monthly net income: $2400

Monthly expenses: $2000

  Housing: $ 300
  Insurance: $ 280
  Car expenses: $ 100
  Utilities: $ 30
  Phone, cable, internet: $ 60
  Food, entertainment: $ 100
  Clothing, household expenses $ 100
  Credit cards and other loans: $ 600
  Prosper Loan: $ 430