Tapping into my own money in my 401K
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,800.00 | Status: | Loan created |
| Grade: | E | DTI: | 34% |
| Lender Rate: | 35% | Borrower: | Plan2Save |
| Finished | State: | OH | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-18 | EricsCC ROI: | 34% |
| Status History | |
|---|---|
| Aug 16, 2008 | Current |
|
Purpose of loan: This loan will be used to? pay off my current 401K loan so that I may tap into the increased earnings My financial situation: I am a good candidate for this loan because? once I pay off my current 401K loan, I may once again borrow from my account which has grown considerably. My plan only allows one loan at a time so I need to pay the current one off before borrowing again. I am paying myself back at a low interest rate. The funds will be used to pay off entirely, 3 very high interest rate credit cards as well as my Prosper loan. Before joining I acknowledged the need for people to earn money. In my case, I could easily pay off my Prosper loan in less than a month. Thirty-five per cent! OUCH! I intend to keep my loan account open for a minimal period of six months as an enticement to lenders. It may not be the gusher oil well everyone looks for but will provide some earnings for gracious lenders. I have worked hard to keep my credit free of blemishes as much as possible. I cannot deny a very large debt which hurts my standing considerably. I intend to do as much as possible to keep my credit secure, pay off debt and begin a determined effort to save. I hope you will see a good investment in my account and a few extra dollars in your pocket to invest. Thanks for your consideration. I have likened my efforts to get to living in a savings mode to a race. I am only starting out but each step will take me closer to the finish line. The pictured runner is at the starting line and I am here at Prosper. Please help to get me off to a good start while putting a few extra dollars in your pocket. Monthly net income: $ 2200 Monthly expenses: $ 1565 Housing: $ 200 Insurance: $ 50 Car expenses: $ 300 Utilities: $ Phone, cable, internet: $ 20 Food, entertainment: $ 55 Clothing, household expenses $ 30 Credit cards and other loans: $ 900 Other expenses: $ 10 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 373486 | Tapping into my own money in my 401K | E | $5,000 @ 35% | Jul 26, 2008 | Expired |
| 376894 | Tapping into my own money in my 401K | E | $5,000 @ 35% | Aug 02, 2008 | Expired |
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