Payoff high interest card
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 24% |
| Lender Rate: | 14% | Borrower: | cul8rv8 |
| Finished | State: | NV | |
| Funded: | 100% | Group: | Sigma Phi Epsilon |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-10 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Jun 10, 2008 | Current |
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Purpose of loan: This loan will be used to pay off my high interest credit card. The interest rate was jacked sky high (~26%) on this particular card back when I was in college and didn't realize the importance of maintaining good credit. I have since gotten my credit back in order, but due to unforseen circumstances (that cost me roughly $7000), I needed to use this card again. Now the high balance and high interest on this one card is holding me back from getting my credit where I want it. The lease on my car is up in a year, so I am starting now to try to get my credit back in good, strong order so that I will be able to buy my next car rather than another expensive lease. The current balance on the card in question is $7799.36. I have another card with a lower interest rate (14%) that I am not including in this loan request, as the balance for this account is manageable for me at roughly $3000. My financial situation: I work as a Network Engineer for a major telephone wholesale carrier. As such, my internet, home phone, and cell phone bills are paid for by my company. I have been a lender on Prosper for a while, and would like to expand my usage of the site to also help others. With this loan I will be able to lower my monthly payments on my debt so that I can save more money towards future unforseen circumstances, as well as allow me to invest further in the Prosper community. I purchased my home just over a year ago, so a home equity loan is not in the picture currently. Monthly net income: $ 3700 Monthly expenses: $ 3400 Housing: $ 1620 Insurance: $ 200 Car expenses: $ 420 Utilities: $ 200 Phone, cable, internet: $ 60 Food, entertainment: $ 300 Clothing, household expenses $ 200 Credit cards and other loans: $ 400 |
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