CLEANING UP OUR DEBT
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,500.00 | Status: | Loan created |
| Grade: | A | DTI: | 41% |
| Lender Rate: | 12% | Borrower: | 3timesblessed |
| Finished | State: | OH | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2008-03-25 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Mar 25, 2008 | Current |
| Mar 29, 2011 | Payoff in progress |
| Apr 27, 2011 | Paid |
|
CONSOLIDATION REQUEST Our financial situation: Since August 2007, we have been snowballing our consumer debt and have happily applied over $11,000 toward the goal of becoming debt free!!!! This loan will consolidate two Chase accounts, a Lowe's account and a Best Buy account, with interest rates ranging from 21% to 29%. My wife & I are determined to be out of debt by mid- 2010 (at which time, we will have three kids in college!). We are determined to do this - the hard way - and are not interested in any easy ways out. We realize our past behavior of spending far too freely was completely out of line with the Christ-centered lives we are trying to live. We feel convicted to "clean up our act" and find financial peace. We have been selling off things we don't use (kids sports equipment, piano, Trek road bikes) in order to simplify our lives and free up cash for debt reduction. Our goal to be debt-free will be moved along quicker if I am able to obtain this money at a more reasonable interest rate. I am currently paying a total of $629.00 toward these four accounts and when these particular debts are consolidated, that same monthly amount will be used fto pay this Prosper loan & worked back into the debt snowball. We would much rather pay individuals a very nice return than have the same amount sent to large, impersonal financial corporations. MONTHLY HOUSEHOLD INCOME: $7550.00 DETAILED MONTHLY EXPENSES: Mortgage - $1,250.00 Home & auto insurance - $406.00 (3 teenagers driving!!!) Savings/Escrow for real estate taxes- $200.00 Tithe - $200.00 (sometimes more....) Vehicle #1 - $359.00 Vehicle #2 - $324.00 Vehicle #3 - $ 0.00 Utilities - $460.00 Life Insurance - $100.00 Savings - $200.00 Food/Groceries - $450.00 Gasoline - $250.00 (travel by car for my career - reimbursements received for mileage, which we apply to gasoline costs) Debt reduction/snowballing - $2,300.00 I look forward to getting involved in the Prosper community! |
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