Combining my credit card debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,200.00 | Status: | Loan created |
| Grade: | HR | DTI: | 46% |
| Lender Rate: | 16% | Borrower: | princess64 |
| Finished | State: | FL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-24 | EricsCC ROI: | 14% |
| Status History | |
|---|---|
| Jul 23, 2008 | Current |
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Purpose of loan: I have been working over the past two years in establishing my credit, and obtaining credit card accounts to help put my life together. I now have a full-time job, a reliable automobile, and am able to help myself and to help others. I can pay my bills but having multiple bills has become hard for me to deal with in my mind. I would prefer to have a single loan that I could pay, with a fixed amount due each month. This loan will be used to combine multiple credit cards into a single monthly payment. My financial situation: I am a good candidate for this loan because I have a full-time job, and I work night shift and weekends to earn extra money from shift differential and overtime pay. I have low living expenses because a share a house with my friend, who is also going to bid on the loan. I could borrow money from my friends, but as part of establishing my credit I want to use PROSPER so the loan and payments will contribute to my credit record. Monthly net income: $ 1705 Monthly expenses: $ 1580 Housing: $ 0 Insurance: $ 90 Car expenses: $ 570 Utilities: $ 135 Phone, cable, internet: $ 35 Food, entertainment: $ 100 Clothing, household expenses: $ 150 Credit cards and other loans: $ 500 Other expenses: $ 125 discretionary The change in expenses after the loan will be: Prosper Loan: $ 250, Credit cards not consolidated: $ 250 to pay them as soon as possible (about 9 months). I will use direct debit from my bank account to pay the Prosper Loan. My credit card total debt is about $8,000 and I also have the car loan (which payment is included in Car expenses). |
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