Transfering Personal Loan to Prosper
| Listing Information | |||
|---|---|---|---|
| Amount: | $14,500.00 | Status: | Withdrawn |
| Grade: | B | DTI: | 34% |
| Lender Rate: | 20% | Borrower: | moneyman95 |
| Finished | State: | OK | |
| Funded: | 0% | Group: | (No Group) |
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I withdrew my last listing as I learned that I would have to wait 9 months to get a second loan on here so I decided that it would be better to apply for a personal first on here before any business transactions so I could understand Prosper and the processes borrowers go through better. Purpose of loan:This loan will be used to refinance a Capital One personal loan I have. I took this loan out to pay for some of the expenses involving my divorce. The loan is at 24.99% and I have the payments automatically drafted from my account so I am current and have never missed a payment on the note. Looking to lower the interest rate. My financial situation:I am a good candidate for this loan as I have the cash flow to pay for it and am in the process of paying down my debt. My income is set up where I get a small salary and a large quarterly bonus so hence the current debt. Current debt showing up on the credit referenced above: Citicard $8,000 (10.99%) Capital One- $14,500 (24.99%) ?Prosper Loan will replace Monthly net income: $ 7,500 ( includes qtrly income amounts spread over monthly amounts) (Please note I used gross income on old lisiting, this is the net) Planned Monthly expenses: $ 5,004 Housing: $ 1850 (including insurance and taxes) Auto Insurance: $ 116 Car expenses: $ 350 (gas) Utilities: $ 300 Phone, cable, internet: $ 160 Food, entertainment: $ 500 Clothing, household expenses $ 100 Credit cards: $ 500 Auto loan: $549 Personal Loan $479 (Prosper will replace and be somewhat higher) Other expenses: $ 100 (two spoiled dogs) Other information of note: Public record- was a judgement that has long been paid on a home I was a co-signer for a friend on. Mistakes we make when we are younger that we learn from. Goes away in May of 2009. · Length of note- I will most likely pay off with in 2 years. I am building my cash reserve up, getting my retirement contributions maxed out and then will work on debt. Given the likelihood of rate on this and my discretionary income my estimate is to pay off with in the 22-24 month term. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 351219 | Recently divorced and paying off her debt | B | $25,000 @ 35% | Jun 16, 2008 | Withdrawn |
| 351282 | Recently divorced and paying off her debt | B | $15,000 @ 15% | Jun 16, 2008 | Withdrawn |
| 351682 | Investment Series 21-Take a look | B | $1,000 @ 20% | Jun 16, 2008 | Withdrawn |
| 353112 | Investment Series 21-Take a look | B | $5,000 @ 16% | Jun 19, 2008 | Withdrawn |
| 357076 | Transferring Personal Loan to Prosper | B | $14,500 @ 17% | Jun 25, 2008 | Loan created |
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