Consolidating credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $17,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 67% |
| Lender Rate: | 26% | Borrower: | Saulite |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Furry |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-12-18 | EricsCC ROI: | 22% |
| Status History | |
|---|---|
| Dec 16, 2007 | Current |
|
Purpose of loan: This loan will be used to consolidate higher interest rates credit cards and debts as follows: Discover card: $7578.74 @ 22.4% United Mileage: $5086.78 @ 29.49% Wells Fargo: $4029.85 @ 19.5% My financial situation: I work as an accountant for First Insurance Funding corp. in Northbrook, IL for over 8 years in a row; my husband works for Wayatt Austin Jewelers, in Schaumburg, IL for about 3 years. We own two condos, one in uptown Chicago and one in Vernon Hills, IL. The Chicago one is nearly paid off; we rent out the one in Vernon Hills for $1200/mo. Our real estate agent recently advised that we "short sell" it because of the real estate market slump, and we followed her advice; she said that we should stop paying the mortgage on that property, and so we did -- and that's where 2 delinquencies came from. We also own two cars (Nissan Altima 1998 and Nissan Centra 2001) which are completely paid off. Monthly net income: $ 4500 My salary: $ 2000 (gross) / $ 1400 (net) My husband's salary: $ 3000 (gross) / $ 2200 (net) 2nd condo rent: $ 1200 (gross) / $ 900 (net) Monthly expenses: $ 3860 Housing: $ 440/mo (assessment + mortgage combined, payable through our condo association) Insurance: $ 150/mo Car expenses: $ 300/mo Utilities: $ 80/mo Phone, cable, internet: $ 240/mo Food, entertainment: $ 400/mo Clothing, household expenses $ 200/mo Other expenses: $ 200/mo Credit cards and other loans: $ 1850/mo (see breakout below:) Discover card: $500/mo United Mileage: $500/mo Wells Fargo: $200/mo ABT store: $300/mo Credit One: $200/mo Charter One: $50/mo Wells Fargo #1: $50/mo Wells Fargo #2: $50/mo 1st condo mortgage: (included on the "Housing" line above) 2nd condo mortgage: $0 (see "my financial situation" above for explanation) As you see, by closing the top three cards, I will save $1200 a month while paying, in worst case scenario (if the rate isn't bid down any) $720/mo, with clear end in sight. Why my account shows as unverified: this is my very first listing on Prosper, and it claims that my account cannot be verified till the listing is at least 5% funded. I will verify my account as soon as I will be allowed to do so. |
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