2nd Try! Former "E" now a "C" & going up. Payoff 23% HELOC!!
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,102.00 | Status: | Loan created |
| Grade: | C | DTI: | 36% |
| Lender Rate: | 23% | Borrower: | chavez35 |
| Finished | State: | OH | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-04 | EricsCC ROI: | 20% |
| Status History | |
|---|---|
| Jan 03, 2008 | Current |
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Purpose of loan: I'm seeking to eliminate my highest interest HELOC with this Prosper loan. Currently, my HELOC balance is $14,500 which is only $500 less than what it was 2 years ago at origination and I haven't even used any of the available credit. This loan is going nowhere fast. This was an aweful mistake I made when I attempted to consolidate my debt in 2005. I'm looking to make up for this mistake with your help in funding this loan. The HELOC APR is at 23% and I currently pay $300/mo, the minimum payment. Knowing that this loan will be eliminated in 3 years or less through Prosper and your help is a great feeling! This would be true even if my loan is funded at the maximum interest rate. What a deal considering I've already had this loan for 2 years paying a little less than what I'd be paying here and I'm only $500 dollars to the better. This loan may seem lateral, but I am willing to make the extra/higher payments to you and have this debt eliminated in 3 years at worst. I will payoff the rest of the HELOC balance with my bonus in March to completely eliminate this bad debt. My financial situation: I'm currently a Prosper loan holder with no negative marks. With Prosper opening the doors to obtaining second loans, I've decided to go forward with this request. The first loan of $3400 was such a success that it boosted my credit score from an E to now a C. This is definitely a step in the right direction!!! I can only image what this second loan may do for me and my family. I am guaranteed a salary increase in January and will be expecting a bonus check sometime in March. My salary increase will provide another $400/mo. Additionally, my bonus is a percentage of my current salary based on company performance and can be anywhere between 5% and 15% or more. I expect it to be somewhere around $5000-6000 this year before taxes. Monthly expenses: Housing: $ 1030 Property Taxes + Homeowners Insurance: $ 280/mo (put into savings and paid semi-annually) Car Insurance: $ 110/mo (put into savings and paid semi-annually) Car expenses (leases): $ 665 Utilities: $ 200 Phone, cable, internet: $ 150 Food, entertainment: $ 300 Clothing, household expenses $ 200 Credit cards and other loans: $ 2900 Other expenses: $ 200 Monthly Net Income: $ 6600 Total Monthly Expenses: $ 6035 Additional Funds Available per Month: $565.00 I am very committed to paying this loan off and take it very seriously, you will have no worries about deliquency here. I would appreciate any help you may be able to provide. FYI, I left my previous Prosper group to go on my own since the rating of the group I was with had drastically dropped, I hope that you will still feel confident in bidding on my loan. Thank you considering my loan request and have a happy holiday! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 96414 | Need help paying off *HIGH INTEREST* Credit Cards | E | $9,000 @ 0% | Feb 09, 2007 | Withdrawn |
| 96434 | Need help paying off *HIGH INTEREST* Credit Cards | E | $9,000 @ 7% | Feb 09, 2007 | Withdrawn |
| 96460 | Need help paying off *HIGH INTEREST* Credit Cards | E | $9,000 @ 7% | Feb 09, 2007 | Withdrawn |
| 97984 | Paying off *HIGH INTEREST* Credit Cards | E | $5,000 @ 6% | Feb 11, 2007 | Withdrawn |
| 136422 | Getting out of debt - Please HELP! Ohio MAX! | E | $10,000 @ 22% | May 12, 2007 | Expired |
| 140062 | Paying off WAMU@31.49%. Please help, Ohio Max. | E | $3,400 @ 18% | May 19, 2007 | Loan created |
| 248800 | Seeking loan to lower high interest HELOC...2nd Prosper Loan | C | $9,999 @ 23% | Dec 11, 2007 | Expired |
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