Debt Consolidation
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,600.00 | Status: | Loan created |
| Grade: | D | DTI: | 73% |
| Lender Rate: | 18% | Borrower: | TheTradingGap |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-02-20 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Feb 17, 2008 | Current |
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Purpose of loan:pay of a payday loan known as Cashcall originally used to pay for college. Interest rate is at 96% Cashcall: 2500@ 96% i've been paying this off for almost a year, but it barely decreases because of the interest on it.I'll make this short and simple. with some Q&A that a lender would care about. Q: if your cashcall loan is 2500, why are you asking 2600? A: I live in California, where there is an interest rate cap at 2600 and below, so to give the max interest, i up it to 2600. Q: why do you have such a high DTI and low credit score? A: My credit line is extremly new, it dropped down to D while i was in school. i've made a couple mistakes but have been responsible since, i don't have any DQ. I don't make a ton of money, which is why i have a high DTI, but all of my income is disposable that goes to paying off my Paydayloan(mostly all)/CCs since i live at home and most of my other expenses are taken care of. Q: Can you pay back this loan? A: yes, i make enough to pay the min (+more if necessary), i make the monthly payments on the current cashcall and have not missed a single month for the year that i have had it. i do work, even though i don't make a great deal of money right now, I live at home and my family handles all other expenses until i am out of debt. Q: Do you have any other debts? A: yes, although they are all decent interest rates for my credit score and very low amounts between ($100-400) Q: will these other debts get in the way of repayment of Prosper loan? A: no, again i live at home, so all my income is disposable. Q:Will you be filing for bankruptcy? A: no, my debt is not nearly that bad, i am just trying to eliminate some high interest loan. Q: will you ever get another Prosper loan? A: Yes! once, i can prove i am reliable by making payments, i would like to consolidate my other debt and student loans. so i would like to stay around for awhile. Q: How about loaning yourself? A:Yes, i want to start investing myself, but i want to eliminate my debt, and increase my credit score. Monthly net income: $ 950 Monthly expenses: $ 710 (max) <<credit cards + payday loan>> |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 275191 | Paying off extremly high interest credit cards/loans | D | $5,000 @ 32% | Feb 02, 2008 | Withdrawn |
| 275350 | Debt Consolidation | D | $4,900 @ 35% | Feb 03, 2008 | Withdrawn |
| 276790 | Debt Consolidation | D | $3,000 @ 35% | Feb 06, 2008 | Withdrawn |
| 276807 | Debt Consolidation | D | $3,000 @ 35% | Feb 06, 2008 | Withdrawn |
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