Debt Consolidation to quickly raise credit score**RATE CAP**
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 6% |
| Lender Rate: | 11% | Borrower: | Hheyther |
| Finished | State: | NY | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-10-18 | EricsCC ROI: | -40% |
| Status History | |
|---|---|
| Oct 18, 2007 | Current |
| Dec 04, 2007 | Late |
| Dec 19, 2007 | 1 month late |
| Jan 19, 2008 | 2 months late |
| Feb 19, 2008 | 3 months late |
| Mar 19, 2008 | 4+ months late |
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Purpose of loan: I want to use this loan from prosper for credit card debt consolidation to improve my credit score quickly! ial situation: My financial situation is very good, but I need my credit score to improve quickly so I will qualify to refinance one of my properties at a great rate. In order for my credit score to improve quickly, I need to consolidate and pay off revolving debt quickly. I have been saving each month for my business to grow (it is necessary for me to have cash reserves). I want to have my high interest credit cards paid off, this will give me and my children a clear path to being financially free. I will repay: Discover @ 23.99% - $7465 Citibank Mastercard @ 19% - $5399 ($2864 from my funds) I have other revolving debt that I will be paying off with my own funds. I am excited to see how this process works and also looking into investing in it after this loan is paid off. I have learned that revolving debt is the worst type of debt you can have and has reflected in my credit score. I take pride in the fact that I have had no DQ's or late payments, therefore I believe that this loan is a low risk for lenders! Monthly net income: $ 18900 Monthly expenses: $ 11406 + $5000/mth savings = $16406 Housing: $ 2365 Insurance: $ 150 Car expenses: $ 880 Utilities: $ 650 Phone, cable, internet: $ 500 Food, entertainment: $ 1500 Clothing, household expenses $ 1500 Credit cards and other loans: $ 800 Other expenses: $ 3061 (mortgages on the income producing properties that I own) Savings: $5000 per month for the last 8 months) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 206471 | Debt Consolidation to raise credit score | B | $25,000 @ 14% | Sep 25, 2007 | Withdrawn |
| 209717 | Debt Consolidation to raise credit score | B | $25,000 @ 14% | Oct 02, 2007 | Withdrawn |
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Discussion For This Listing
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