Consolidate Debts with a lower interest rate
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 14% |
| Lender Rate: | 11% | Borrower: | BusMan83086 |
| Finished | State: | MA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-12-14 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Dec 14, 2007 | Current |
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Purpose of loan:I am seeking this loan to combine a few debts that I incurred in college with a lower interest rate. I have about $9500 in credit card debt that I am looking to get rid of. How did I amount that much debt u ask? I will break it down; $5000 is from paying extra tuition at college for intersession courses that I took over winter break in order to get ahead. $1800 is from purchasing a new laptop. $2000 is from books and other school supplies. $700 is from misc things and interest charges. My financial situation:I have a great credit rating. I am a very responsible person. I have never missed or been late on a payment. I own two cars which are both paid off a 2001 Jeep Grand Cherokee and a 2004 Jeep Rubicon. I co-own/manage a transportation company that operates over 40 vehicles on a daily basis. I am responsible for all of our automobile loan payments. We always take 2 year loans and usually pay them off in a year or less. I manage over 40 employees and almost 2 million dollars yearly in contracts. The company has been around for almost 50 years and the founder and my current partner has decided to retire. He is grooming me to take over the business. Right now we run it 50/50 but within 2 years it will be all mine. We are currently under contract for the next 5 years, so my income is guaranteed atleast that long. I am 99% sure with the reputation and track record of this company that all contracts will be renewed and additional contracts will be added. I have 15k in savings and 3k in an IRA to fall back on. I am a great investment and your money is safe with me. I will never miss or be late with a payment. All payments will be automatically withdrawn from my checking account. Please help me out!! You will not regret it!! Please ask any questions. Monthly net income: $2310 (Should increase in the next 6 months. I do not get paid for all of the hours that I work. I am "working-off" what the current owner is selling me the business for) Monthly expenses: $ 2120 ($1370 with prosper loan) Housing: $ 400(Still living at home to save for my own home) Insurance: $business expense Car expenses: $business expense Utilities: $ included in rent Phone, cable, internet: $120 cell phone Food, entertainment: $ 250 Clothing, household expenses $ 200 Credit cards: $ 750 (ELIMINATED WITH PROSPER LOAN) Other expenses: I contribute $400/mo to an IRA Leaves $940/mo to pay the Prosper Loan!! Almost 3 times the monthly payment!! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 241885 | Combine debts with a lower interest rate | A | $10,000 @ 12% | Dec 01, 2007 | Withdrawn |
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