Consolidating Installment Loans
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 47% |
| Lender Rate: | 17% | Borrower: | amelzak |
| Finished | State: | MO | |
| Funded: | 100% | Group: | College Graduates Under 30 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-10 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Jul 10, 2008 | Current |
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I have two installment loans with high interest rates that I would like to pay off. These loans resulted from a recent relocation for my job and the expenses that came along with that. Here is a summary of the two loans: 1. Citi Financial, current balance: $12,250, interest rate: 21% ($338 minimum monthly payment, 58 months left) 2. Beneficial, current balance: $7880, interest rate: 29.88% ($258 minimum monthly payment, 58 months left) With my loan approval, I would pay off the Beneficial loan and pay down the Citi Financial loan, as the Beneficial loan has a much higher interest rate. I have a bachelors and masters degree from the University of Michigan. I currently work full-time for Pfizer and have been employed by Pfizer for the last 4 and a half years since graduating. I have a long history of on-time payments (including 13 months of on-time payments on my first Prosper loan) and am very responsible when it comes to monthly bills. My monthly finances and proposition for loan repayment can be seen below: $3940 net job income (myself) $1650 net job income (wife) $1263 Mortgage $500 Car payment $200 Gas $90 Car insurance $95 Student loan $700 Consolidated credit $100 Energy bill $100 Internet/TV $50 Phone $200 Food $235 First Prosper Loan Which leaves $2057 for loan repayment. Whatever is left over after the 2nd Prosper loan payment will go into savings in order to build up our safety net. Thanks in advance for taking the time to look at my list and I appreciate your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 116961 | Preparing for Marriage | C | $7,000 @ 16% | Mar 29, 2007 | Withdrawn |
| 117005 | Preparing for Marriage | C | $7,000 @ 19% | Mar 29, 2007 | Withdrawn |
| 117039 | Preparing for marriage | C | $7,000 @ 13% | Mar 29, 2007 | Loan created |
| 345204 | Consolidating Installment Loans | B | $15,000 @ 22% | Jun 05, 2008 | Expired |
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