The Rock Solid Sure Thing You're Looking For
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 183% |
| Lender Rate: | 17% | Borrower: | neonnurse |
| Finished | State: | CO | |
| Funded: | 100% | Group: | Progressive Values |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-16 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jan 17, 2008 | Current |
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This will be my second Prosper loan. Since I got the first one six months ago, we have made a huge amount of progress in paying down our debt. When I took out that loan we didn't know for sure what my partner's employment situation would be this year, so we figured it conservatively. She has since retired but luckily was hired on for one 'carryover' year, so for this year we have had essentially a third income source. (When she fully retires next year we will both be working full time in our online business.) So basically our already fairly good income situation has improved even more. With the first loan, we got rid of four small but very high interest credit cards, as promised. Shortly before I applied for the Prosper loan, I did a 'roll-over' of some debt onto 2 special offer 0% cards. One of those is already paid now, and the other (still carrying about $800) will be paid before the special 0% offer expires in 4 months. This has saved me TONS in interest that I was then able to redirect to debt! We owe less than $5K on our house mortgage (3 br on 3 acres) and will pay that off THIS YEAR (6 years early). There is a $17 second mortgage on that, but at a decent rate (9.9%, payment $227.69 monthly) so I have not been hurrying to pay that one early. Also, both cars are paid for and in good working order. Besides the first Prosper loan (about $4K now) we have two large balance credit cards with medium (16.9% or so) interest rates which we are concentrating most of our extra money on. Those are the biggest money hogs for interest. We have not, however, ADDED TO any CC balance we have since June. All cards are now either paid off or significantly lowered, and we plan to keep on that way. THIS LOAN will let us pay off the last two high interest cards. One is BoA and the other is Metris and they are at or over 23.9%. I have been paying a minimum of $300 each on these every month. That $600 will more than cover this loan, and give me a bit over to apply to the other debts. Please feel free to ask me any questions you like. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 140069 | Tired of being the CC Companies' Fool! | B | $5,000 @ 15% | May 19, 2007 | Withdrawn |
| 141358 | Tired of being the CC Companies' Fool! | B | $5,000 @ 13% | May 22, 2007 | Loan created |
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