Paying off 401 K loan, and helping son out
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 24% |
| Lender Rate: | 10% | Borrower: | Rockford |
| Finished | State: | WA | |
| Funded: | 100% | Group: | Brighter Financial Future |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-09-28 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Sep 29, 2007 | Current |
| May 24, 2008 | Payoff in progress |
| May 28, 2008 | Paid |
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Purpose of loan: Thank for taking the time to check out my loan request. I am requesting a loan to pay off a 401 K loan that was orginally 40,000 and now is only 11,000 left on it. The remainder of the loan is going to be used for a used car for my son, and his insurance. He will be adding some of his money to it as well. My financial situation: I am a great canidate for this loan because I have wonderful credit (AA), and I have the means to pay back the loan request. By paying off the 401 K loan it will save me about $700 per month, and the Prosper loan is much less then that amount. It will give me a little extra cash to help my son with a vehicle and insurance. Monthly net income: $ 5,400 Monthly expenses: $ 2,600 Housing: $ 600 Insurance: $ 280 Car expenses: $ 300 Utilities: $ 75 Phone, cable, internet: $ 70 Food, entertainment: $ 250 Clothing, household expenses $ 120 Credit cards and other loans: $ 780 (700 will come off when I get this loan from Prosper) Other expenses: $ 100 |
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