Newly Married Couple Wants to Consolidate Credit Card Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 19% |
| Lender Rate: | 13% | Borrower: | dalty52 |
| Finished | State: | NY | |
| Funded: | 100% | Group: | New Day Rising Loans |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-01-07 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Jan 05, 2008 | Current |
| Jul 12, 2008 | Payoff in progress |
| Jul 17, 2008 | Paid |
|
This loan will be used to consolidate high interest credit card debt: My wife and I have some high interest credit card debt that we accumulated during college. We were in a long distance relationship for four years, and we used a lot of credit to travel to see each other. We are now settled and have good jobs that we enjoy, and we are ready to tackle this debt within the next year and a half to two years. We want to get the debt off of our shoulders so we can start building a solid financial future! Here is a breakdown of our credit card debt: Visa - 26.99% - $6893 HSBC LOC(this is store CC) - 22.9% - $1220.18 MC - 19.49% - $5845 Visa - 16.49% - $3566 Total - 17524.18 Average APR - 21.47% My goal is to use $6893 to pay off the high interest Visa card and the rest to pay on the HSBC, which is the next highest interest rate. I will pay the minimum on the Prosper loan until I pay off the other credit cards. Once those are paid in full, I will increase payments on the Prosper loan until it is paid in full. Our financial situation: We pay all of our bills on time and we do not have any delinquent or defaulted accounts. We are currently paying much more than the minimum on our credit cards, so we will have no problem making the payments on a loan from Prosper, as we will be transferring the balance. We are on track to pay the cards off within the next couple of years, however, we would like to save some money in the process by finding a lower interest rate. Our Combined Monthly net income: $5361(will be around $5861 starting Jan. 1st) Our Monthly expenses: $4136 Housing: $1300 Insurance: $44 Car expenses: $120 Utilities: $200 Phone, cable, internet: $175 Food, entertainment: $500 Clothing, household expenses $500 Credit cards and other loans: $985 Other expenses: $312 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 233618 | Newly Married Couple Wants to Consolidate Credit Card Debt | C | $13,000 @ 14% | Nov 18, 2007 | Expired |
| 247279 | Newly Married Couple Wants to Consolidate Credit Card Debt | C | $5,000 @ 14% | Dec 08, 2007 | Withdrawn |
| 252545 | Newly Married Couple Wants to Consolidate Credit Card Debt | C | $8,000 @ 14% | Dec 18, 2007 | Expired |
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