Relist: Consolidating Debt Before Settling Down
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,215.00 | Status: | Loan created |
| Grade: | C | DTI: | 33% |
| Lender Rate: | 17% | Borrower: | paulh858 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-11-08 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Nov 08, 2007 | Current |
| Jul 24, 2008 | Late |
| Aug 08, 2008 | Current |
| Aug 24, 2008 | Late |
| Sep 04, 2008 | Current |
|
**Decided to end my 1st listing early after considering feedback from lenders who advised me to re-list for a lower loan amount** Purpose of loan: Consolidation of high interest credit card debt: American Express: $7800 - 29.74% HSBC: $2315 - 25.7% My financial situation: My financial situation is healthy and improving by the day. I recently moved in with my girlfriend of 2.5 years, we live in a small condo in midtown Atlanta that she purchased before we met. We plan on getting engaged within the next 10 months; however, before taking that step I am committed to paying off some debts. I work in the supply chain / logistics industry for a large US retailer. My current gross annual salary is $47,250 plus bi-annual bonuses equivalent to 3% of my salary. Since entering this industry after college my income has steadily risen and I feel my career prospects are very bright. I fully expect my annual salary to reach $60,000 within 24 months. How did I get in to all this debt? How do I explain the DQs on my credit history? Simply put, I was young & irresponsible. During my college years I used credit cards to finance the things I wanted to do, but couldn't afford. I earned enough at my part-time job delivering pizza to pay my rent + the minimum payments on my credit cards. After finishing college I moved back to my hometown of Atlanta into a house with some college friends. This is the point where the wheels fell off (Fall 2004), it took far longer than I had hoped to find a "real job" and I simply wasn't making enough money. When faced with the choice of paying rent or minimum payments on my credit cards, I chose to pay the rent, then the late fees / overlimit fees started to accrue. It took until January 2005 to find a "real job", from that point forth I haven't had a late payment on any account. ALL DQs occurred in a 4 month span in Sept '04 - Jan '05. I've spent hours reviewing other listings and honestly feel that I am a worthy borrower to invest in for two reasons. Firstly, I have a solid & reliable source of income. Secondly, I know that due to the past blemishes on my credit report I will have to pay a higher interest rate to attract lenders. Although I have less than an optimal credit grade, I feel it's important to emphasize that all DQs occurred more than 2 years ago. Monthly net income: $ 2700 Monthly expenses: $2400 Housing: $400 (I live w/ girlfriend. Payment of $400 to her includes rent, utilities, insurance, etc) Car expenses: $660 (Payment: $429 + Insurance: $131 + Gas: $100) Cell phone: $40 Food, entertainment: $300 Clothing, other expenses $150 Credit card payments: $255 (Discover, Bank of America & Tires Plus cards) Student Loan: $130 401K Loan: $71 (paid off March, 2008) Prosper loan payment: $395 (assuming loan funds at 23.10%) Monthly left after all expenses: $300 In closing, thanks again for taking the time to review my listing. I hope you consider my loan request to be a worthwhile & solid investment. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 220463 | Consolidating Debt Before Settling Down | C | $22,500 @ 25% | Oct 24, 2007 | Withdrawn |
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