pay off higher rate credit cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 20% |
| Lender Rate: | 28% | Borrower: | cubfan56 |
| Finished | State: | WI | |
| Funded: | 100% | Group: | High Risks that should not be |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-05-06 | EricsCC ROI: | 25% |
| Status History | |
|---|---|
| May 06, 2008 | Current |
|
Listing: My name is Larry [LAST NAME DELETED]. I am 51 years old and I have a 15 year old son. I have worked at the University of Wisconsin - Madison for nearly 31 years. My current position is a Financial Specialist in the Dept of Economics. What this loan is for: Pay off high rate credit cards: Washington Mutua $2400.00 Applied credit card $1000.00 Walmart credit card $600.00 My credit rating: I went through a divorce in 2000 and I had trouble meeting my financial obligations for a period of time following the divorce. I have made valuable changes and I intend to establish my credit rating which was very good in the past. I also have paid on time for the last year on a prosper loan taken in 2007. My total annual income: My takehome every two weeks is $1014.00 so my equivalent monthly income is 2,190.00 Second job nets an additional $400.00 per month bringing total to $2590.00 Expenses remaining following this loan : • Rent $ 425.00 (includes heating costs) • Child support $560.00 monthly. • Current credit card bills: Outstanding balance of $4,230. with minimum monthly payments of $100.00. • Phone 40.00 monthly • Electric bill $30.00 monthly. • Health insurance and medicines $45.00 monthly. • Food $200.00 monthly • Gasoline $80.00 monthly • Auto / renters insurance $35.00 monthly. Monthly total of remaining expenses $1515.00 Expenses that will go away after this loan : Three credit cards will go away and I will be closer to the finanical ability to save for my sons college education. My ability to pay back this loan: I have a good debt to income ratio and I continue to enhance this with my first proper loan. The bottom line: I have benefitted greatly from my first prosper loan and plan to keep this up with the second loan to enhance my credit rating. Thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 100048 | paying off cash checking stores | D | $5,000 @ 17% | Feb 15, 2007 | Withdrawn |
| 101449 | Paying off payday loans | D | $3,000 @ 17% | Feb 19, 2007 | Loan created |
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