Paying off credit card
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 13% |
| Lender Rate: | 14% | Borrower: | qwerty4189 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-02-13 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Feb 13, 2008 | Current |
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Purpose of loan: This loan will be used to pay off one high-interest credit card. The credit debt was accumulated during a time of some unusual expenses, including buying my parents a house (allowing them to cash out 100% of their home equity for retirement savings). This Prosper loan will pay off the credit card balance more quickly than if I didn't have it, because of the reduced interest rate from it. My financial situation: I am a good candidate for this loan because I have a very stable job / income, a good credit rating, a low debt-to-income ratio, and am conscientious in my overall and financial life. Also, I have some other options for paying off this credit card / Prosper loan, sich as cashing out stock options and reducing my maximum contribution rate to my 401-k. These options are just less attractive to me than getting the Prosper loan. My monthly budget indicates that I am living within my means, so I don't anticipate incurring further credit card debt. Loan details: I plan to pay this loan off over three years, if not sooner. |
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