Consolidating debt to pay off my bills even faster!
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 26% |
| Lender Rate: | 16% | Borrower: | Songbird |
| Finished | State: | MA | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-20 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Aug 20, 2008 | Current |
|
Purpose of loan: 1) Pay off higher interest credit cards & lingering medical bill My financial situation: The single most important thing I want to say here is that this monthly loan payment will equal what I am currently paying on all the items I wish to consolidate. In other words, I will be trading higher interest rates and endless monthly credit card payments for this loan without over-extending myself one bit. One of the items I plan to cover with this loan will be paid in full, thereby increasing my take-home income by approx. $120/month. As you can see, this makes me a very low risk to you as a lender. Yeah! I have a stable job, plus a little extra income from other sources that I have not included in my financials below. My living expenses are low, and my partner shares the burden of these. I am in a very good position right now to take this big step towards wiping out my debt. A little history... approximately 6 years ago, I had a very short period of financial troubles. As a result, my credit was severely damaged. I have worked my tail off to correct it (and pay my debts) since then, and have made great strides in doing so. In fact, just this week, I had two more items corrected on my reports, so my current credit grade is probably even better than Prosper says it is! However, I am still having trouble getting my credit card lenders to lower my rates to a reasonable level and pay-off will take me forever if I can't get those rates down. My first Prosper loan helped me a great deal and I would much rather my hard-earned money go back into the pockets of the wonderful lenders here than those big greedy banks! Just so you know... My first loan helped me pay down credit cards as well--they are only run up again because we had a string of bad luck...we moved into a family home after a sudden death in the family last fall, needed to upgrade electrical, fix a furnace, buy a new stove right at the outset (ack!) then my partner suffered a serious injury and couldn't work for 6 weeks AND my car flat out died the same week, in the dead of winter! BUT, I'm happy to report we're doing fine now... I lucked out and inherited a car, life is back to normal, and we never defaulted on ANYTHING. Phew! I use cash almost exclusively, so don't worry, I'm not a habitual credit card user! Monthly net income: $ 1718 (plus another $120/month soon!) Monthly expenses: $ 1530 +/- Housing: $ 200 Insurance: $ 60 Car expenses: $ 100 Utilities, Phone, cable, internet: $ 150 Food, entertainment, clothing: $ 100-200 Groceries, household expenses $ 200 Credit cards, student loan and other loans: $ 620 (INCLUDES the payment for this loan, since it is basically an equal exchange for what I'm currently paying) Thanks for considering me!! :-) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 89623 | Need a little boost: apartment deposit & debt consolidation | D | $6,500 @ 19% | Jan 27, 2007 | Expired |
| 98746 | 2nd try. State min./higher interest! Debt cons./apt. deposit | D | $6,500 @ 21% | Feb 12, 2007 | Expired |
| 102446 | Min. loan/ highest int. for my state; apart. deposit & debt | D | $6,001 @ 17% | Feb 22, 2007 | Loan created |
| 239517 | Trading our rent payments for home improvement loan! | D | $12,000 @ 18% | Nov 28, 2007 | Expired |
| 274651 | Need a car!! Please read profile; less risky than I appear! | D | $5,000 @ 9% | Feb 01, 2008 | Withdrawn |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|