Lender becoming Borrower! I'd rather pay interest to you :)
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|Loan Status:||Paid||Origination Date:||2008-05-28||EricsCC ROI:||5%|
|May 28, 2008||Current|
|Jun 03, 2011||Payoff in progress|
|Jun 07, 2011||Paid|
Purpose of loan:
This loan will be used to? pay off a credit card that I'm carrying a balance on. I have one Bank of America card with a balance close to $4,000 with an interest rate of 13.9%. Although the interest rate is not an extremely high rate, I would prefer to lower it a bit and, of course, pay interest to people rather than the credit card company! I bought my two sons some bedroom furniture a few months ago. I used my B of A/US Airways credit card to get the "miles" and now am paying for those miles at 13% interest. Not really worth it. :)
My financial situation:
I am a good candidate for this loan because? I am responsible and pay my obligations. I have close to $100,000 equity in my house (the value based on current sales in the area) and my car is paid for. I have a stable job as a staff attorney, and it provides me opportunities to earn extra money if I put in extra hours. About a month ago, I found Prosper and have made several loans since then. I just recieved my first payment today. After seeing how easy the whole process at Prosper is, I thought, why not take out a loan and knock out that one credit card you have? So here I am!
The picture I have posted is of one of my sons and I from about a year ago. He is now almost two years old and is a sweetie pie!