Working To Become Debt Free
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 46% |
| Lender Rate: | 13% | Borrower: | DSSS |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-12-31 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Dec 29, 2007 | Current |
| Mar 29, 2008 | Payoff in progress |
| Apr 03, 2008 | Paid |
|
Purpose of loan: This loan will be used to pay off my only 2 credit cards that are currently not at a 0% interest rate. I recently moved a majority of my debt to 0% interest cards (which is the reason for all the inquiries) and I am using a snowball plan to eliminate the debt, but my 2 cards remaining at a 14% rate are slowing me down. This loan would enable me to eliminate this and my other debt within 3 years time. Once our debt is fully paid off, my husband and I plan on expanding our current custom exhaust business. My financial situation: I am a good candidate for this loan because my husband and I have excellent credit. We have never made a late payment. We own our own home and have since our early 20's (we are now in our mid-30's). We have both been employed with the same companies for over 12 years (me since 1994 and my husband since 1996). We have been investing for years and have 401K plans currently worth over $130,000. Both of our fields are solid. I work in the utility business and he works in the automotive field. We lend with Prosper, and we also own some stock as well as mutual funds. A Little Extra Information: My husband is an automotive Master Technician with a large dealership and has recently started his own business doing auto repair at home in addition to creating and installing custom exhaust systems. We have a full sized professional auto lift as well as an exhaust bender (which is how we incurred some of this debt), plus about $60,000 worth of tools. His customer base is growing daily based soley on word of mouth and we feel that in a couple of years we can realize his dream of opening a professional shop. For now, he is doing the work in addition to his regular job and we are putting the money he earns towards garage equipment as well as debt reduction. Some Financial Information: Monthly Income (combined): $6350 (this varies based on my husband's monthly bonuses but this is the minimum) Monthly Side Business Income: $750 (again, this varies) House Payment: $2700 Credit Cards: $233 (this is the minimum, we pay much more) Auto Loans: $790 (we recently bought a truck so my husband could pick up exhaust pipe and other parts) Entertainment: $150 Food and Household Stuff: $500 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 328741 | Investing in Prosper | A | $1,025 @ 9% | May 09, 2008 | Withdrawn |
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