Just Married - Time to consolidate my debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,800.00 | Status: | Loan created |
| Grade: | D | DTI: | 17% |
| Lender Rate: | 18% | Borrower: | carpin28 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-30 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Oct 31, 2007 | Current |
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First of all, thanks for viewing my loan listing! Purpose of loan: I am going to use this loan to fully consolidate my 3 high interest rate credit cards and pay off the remainder of my auto loan. My financial situation: I believe I am a great candidate for this loan because I have a very good job (going on 3.5 years) in the automotive industry doing economic forecasting. My wife and I just got married one month ago so a lot of my credit card debt came from wedding costs and some remaining expenses from 2 years ago when my car broke down and needed repairs. I currently have 3 credit cards with interest rates around 27-29% and my monthly payments haven't been making a dent beyond the interest. The only late payment I've ever made was 3 years ago when I was traveling abroad and had my wallet stolen. I had to cancel all my cards and in doing so my online accounts to pay my credit card bills were suspended. This left me with no way to pay my monthly bills until I returned home 2 months later. The main reason why I have a "D" credit score is that my revolving balances are all very high. Our goal is to own our own home by 2011 and this will be the first step towards rebuilding my credit and having enough financial freedom to start saving towards a down payment. Once all my credit cards are paid off I will be leaving the accounts open but I won't spend any more on them. Monthly net income: $3400 Monthly expenses: $2580 Housing: $1150 Insurance: $90 Car expenses: $410 ($260 car payment and $150 for gas) Utilities: $120 Phone, cable, internet: $100 Food, entertainment: $200 Clothing, household expenses: $125 Credit cards: $360 Other expenses: $25 (health club) This prosper loan payment will replace $620 in credit card and auto loan payments Monthly left before Prosper Loan: $820 Monthly left after Prosper Loan (assuming a monthly payment of around $390): $1050 |
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