"A" Rating ~ Consolidating Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 47% |
| Lender Rate: | 13% | Borrower: | jake89 |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-11-13 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Nov 09, 2007 | Current |
| Aug 20, 2008 | Payoff in progress |
| Aug 26, 2008 | Paid |
|
Purpose of loan: I refinanced much of my debt before my credit rating went up to an 'A'. So I have a loan with BankofAmerica for $9000 at 16.99% , and a credit card with 12,000 at 1.9% which converts to 9.9% in October 2008. This loan will be used to pay off the loan, leaving me to focus on paying off the lower rate Prosper loan and my remaining cc debt. My financial situation: In January, I started working full time at a decent paying job(40hrs/week $14/hr) as a vendor at 7 home improvement stores.Even during this slow period, I am guaranteed 40 hours/week. Refiancing with this loan we help me to have all debt paid off within 2 years. I have zero delinquencies since my first car loan in 1992. 15+ years of paying back on time. I know how important it is to have and keep good credit. My financial plan: I live with my parents until I can get my debts paid off and finish college. I go to college part-time for a BS in Computer Science. I will be graduating in May 2008. I'm actively working to pay off my debts and get my interest rates reduced . I recently paid off my visa card and my chase CC. I received a $10000 loan from BankOfAmerica for 16.99% which I used to pay off most of credit cards , leaving the Discover Card.I transfered the DiscoverCard to a new card @ 1.9% Monthly gross income:$2426 monthly taxes: $399 Med Fsa : $227 Medical,Vision,Dental:$49 Disability Ins.(short ,long):29 Monthly net income: $ 1722 + $84 for mileage = 1806 Monthly expenses: $ 972 ( 1562 with the extra payments I've been making to the cc debt) Housing: $ 0 (parents) Utilities : $ 0 (parents) Car Insurance: $ 89 Car gas and maintenance: $ 75 Cell Phone: $10 Land line Phone: $18 Food, groceries: $ 200 Clothing :$ 20 Credit cards and other loans: $ 391 (min) BofA Loan : $169 (min) Extra Payments on CC: $590 After Prosper Funding: Housing: $ 0 (parents) Utilities : $ 0 (parents) Car Insurance: $ 89 Car gas and maintenance: $ 75 Cell Phone: $10 Land line Phone: $18 Food, groceries: $ 200 Clothing :$ 20 Credit card: $391 BofA loan: paid off with prosper loan Prosper: $308 Extra Payments to Debt: $451 This 3yr loan will pay off my BankOfAmerica 5yr loan. As you can see from my income and expenses that I can handle the higher payments per month for a quicker payoff and lower interest rate. Thank you for taking the time to look at my loan request. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 158036 | Consolidating Credit Card Debt | D | $17,000 @ 14% | Jun 25, 2007 | Expired |
| 163800 | Need Help With High APR CC Dept , State Max | D | $5,000 @ 14% | Jul 05, 2007 | Expired |
| 176290 | New B looking to refinance CC debt | B | $6,000 @ 14% | Jul 25, 2007 | Expired |
| 192537 | New B looking to refinance CC debt | B | $8,000 @ 14% | Aug 24, 2007 | Expired |
| 362456 | Consolidating Debt | B | $5,000 @ 14% | Jul 09, 2008 | Withdrawn |
| 367090 | Consolidating Debt | B | $5,500 @ 14% | Jul 14, 2008 | Loan created |
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