Help me help you! (State Max APR, 0 Delinquencies)
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,001.00 | Status: | Loan created |
| Grade: | B | DTI: | 39% |
| Lender Rate: | 14% | Borrower: | dswa |
| Finished | State: | MA | |
| Funded: | 100% | Group: | BuildingTree |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-24 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Jan 24, 2008 | Current |
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Purpose of loan: I will be using this loan to pay off one of my high interest credit cards. I have accumulated much of the debt on the credit card from being a full time college student. On top of being a full time student I also work full time in retail. This loan is to also help improve my current credit score as it is suffering from my high interest cards. I plan on taking the prosper loan and making a couple of large payments on the card to help increase my credit rating. When I graduate I am going to need a good credit rating to be able to consolidate any student loans at low interest rates. With this loan, you as the lender, will get the interest rather than the credit card company. My current balance is $5,820.63, APR is 21.24%, minimum payment is $160.00 If i were to keep paying $160.00 each month it would take me 4.9 years to pay off the balance and I would have paid $3,596 in interest. With Prosper the loan is set at 3 years and I would only be paying approximately $1,916.00 in interest or less. Plus the minimum payment is only $219.00. THE APR ON THIS LOAN IS SET TO THE STATE MAX. My financial situation: I am a good candidate for this loan because I consistently pay all of my debts on time. I know that my credit score is suffering from my debt to income ratio, as well as the balances compared to credit limits but upon graduating in May of 2008, I plan on getting a corporate job in my field of study that will greatly increase my monthly salary; at which point I will be able to pay off this loan much faster. As you can also see in my credit profile that I have had 0 delinquencies on my credit report. I will be able to pay the loan with money freed up from this card. I also will not be using my other credit cards that I am paying off and plan to be using cash for most of my financial needs. Again the loan will be used to pay off the following credit card: Citicard Visa $5,820.63 (21.74% APR) Monthly net income: $ 1,400 (this will increase after graduating) Monthly expenses: $ Housing: $ 0 (I live with my parents.) Insurance: $ 240 Car expenses: $ 300 (gas) Utilities: $ 0 Phone, cable, internet: $ 55 Food, entertainment: $ 150 Credit cards and other loans: $ 470 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 214946 | GOODBYE OUTRAGEOUS CREDIT CARD RATES! (STATE MAX APR) | D | $18,500 @ 18% | Oct 12, 2007 | Expired |
| 233060 | GOODBYE OUTRAGEOUS INTEREST RATES! (STATE MAX APR) | D | $6,050 @ 18% | Nov 16, 2007 | Expired |
| 252425 | GOODBYE CREDIT CARD RATES! (State max APR, NO delinquencies) | D | $7,160 @ 18% | Dec 17, 2007 | Expired |
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