Proven Borrower - 1 Step Closer to Debt Free! RELIST
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,796.00 | Status: | Loan created |
| Grade: | A | DTI: | 45% |
| Lender Rate: | 16% | Borrower: | jray52 |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-25 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jun 28, 2008 | Current |
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I am a resident of Texas and Texas CAPS my interest rate at 17% otherwise I would offer more. I am hoping to get this loan so I can pay off a Chase credit card that was used in the latest move and expansion of my wife's tax practice. The card now has a balance of 13,796.00 and an interest rate of 14%. I only have this Chase account, a personal loan that will be paid off on August 11, a truck payment that will be paid off by December 15th and my mortgage that I hope to have paid off Dec 31, 2010. Thank you Dave Ramsey! This will be my third loan. I just paid off loan #2. I used that money to pay off a credit card and have been working diligently to improve my credit score. In fact, my credit score has improved from B to A and I'm determined to get to AA before another year passes. My wife recently took out a Prosper Loan to pay off her Countrywide VISA (Formerly Chase) in the amount of $19,749.24. The payment was made and posted to the account on May 30th. We also used my Chase card for the business move and now want to get it on a fixed term loan. The interest rate from Chase is lower than what I expect to get from Prosper, but in the long run it will cost less. On my last listing I was questioned about the fact that my revolving credit balance has not dropped significantly, which is understandable because I am using Prosper Loans to replace credit cards/loans. I?m not getting rid of debt with these loans, just changing the debt to fixed term/fixed interest debt through Prosper. I have however reduced our revolving debt since my first Proper loan by almost $30K, Bankcard Utilization by almost 30% and DTI by over 30% so I definitely am making progress! See listing number 111966. My own personal verifiable income is just under $74,000.00 per year. Her income, unverifiable by Prosper's methods, is well over $65,000.00 for a combined total just under $139,000.00 per year. On my earlier loan, I didn't include my retirement income from the Navy, just a mental lapse. Also, I got a raise at work. These two added together make up the difference in income between the last two listings. I am a Lender on Prosper and currently have over $10,000.00 out in 142 loans. Everything that gets paid back to me in principal and interest I am rolling right back out as loans. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 111966 | Credit Card Elimination | B | $2,400 @ 13% | Mar 16, 2007 | Loan created |
| 223519 | Credit Card Elimination | A | $15,000 @ 8% | Oct 30, 2007 | Withdrawn |
| 236646 | Help Son-In-Law Business Startup | A | $2,500 @ 10% | Nov 24, 2007 | Loan created |
| 347955 | 1 Step Closer to Debt Free!! | A | $14,200 @ 17% | Jun 10, 2008 | Expired |
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