Retire higher interest Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,900.00 | Status: | Expired |
| Grade: | B | DTI: | 20% |
| Lender Rate: | 14% | Borrower: | carpediem1 |
| Finished | State: | NY | |
| Funded: | 0% | Group: | (No Group) |
|
Proceeds from this loan will be used to pay off credit card debt I incurred to take advantage of an opportunity to buy products at 50% below wholesale....a no brainer.My Credit Grade dropped from A to B due to this increase in my credit card use, which explains the high bank card utilization.This loan will reduce that card use(cards will be canceled after payoff), and should pop my score back up to "A". Could I pay off the cards over the next 36 months?Sure...but why pay almost 20% if I can get this loan @ 14.28%?BTW, that's the NYS rate cap. I have been in the chemical business for over 20 years.. and started this company 6 years ago.My site, mrochem.com is doing well, along with our sales force of 5 salespeople selling to institutional, municipal & industrial accounts. The company has a D & B paydex of 78(out of 80), and is profitable. Of course, I am personally responsible for this loan.As you can see from my previous history, I have 1 loan outstanding with Prosper, never late.( that loan, BTW, bought servers & software that contributed to my growth, getting my company to the next level...thank you to all those lenders for that.)As a lender myself, I know how important it is to deal with quality borrowers who make their payments on time.The 1 public record I have is for a disputed(aren't they all?) tax lien in 2001which I settled & paid in 2001. I am also the group leader of AAAA Fund America. Mastercard- 6800 Amex Blue- 3000 interest rates on above range from 18-19.9%. I'd rather pay you. Feel free to contact me regarding any aspect of this listing. Thank you for your consideration, Steve |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 1590 | Server & software purchase | A | $20,000 @ 7% | Mar 09, 2006 | Withdrawn |
| 1672 | software & Server purchase | A | $15,000 @ 10% | Mar 10, 2006 | Expired |
| 1758 | software & server purchase | A | $20,000 @ 10% | Mar 11, 2006 | Loan created |
| 237600 | Retire higher interest Debt | B | $14,500 @ 14% | Nov 26, 2007 | Withdrawn |
| 240936 | Retire higher interest Debt | B | $9,900 @ 14% | Nov 30, 2007 | Expired |
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