Paying off remaining credit card debt.
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,900.00 | Status: | Loan created |
| Grade: | B | DTI: | 54% |
| Lender Rate: | 14% | Borrower: | jd100 |
| Finished | State: | NC | |
| Funded: | 100% | Group: | Wolfbranch |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-22 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Aug 21, 2008 | Current |
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Purpose of loan: This loan will be used to pay off remaining credit card debt. My financial situation: I am a good candidate for this loan because I have never made a late payment on any credit card account, car loan, mortgage payment, etc. I would like to consolidate my debt so that I can get rid of the cards with high interest rates and save money. My wife and I both work and we take great pride in our credit. We will have no problem making the monthly payments in full and in a timely manner. We have recently paid down our credit card debt by over $6800.00 over the past 3 months, so we feel we have made some very good progress in this direction. With this loan we will continue to work towards our goal of living a debt free lifestyle. We have and will continue to cease use of credit cards. Monthly net income: Myself $27,486 + $18,000 Total = $45,486 My Wife $11,241 + $500 Total = $11,741 Total household income = $57,227 ($4,768.92/month) Monthly expenses: Mortgage, Insurance, Car Payments, Utilities, Groceries = $2,900/month Gas for cars $200/month (however $100 is reimbursed by work) Our monthly payments on the Credit Cards are currently $925/month Credit Cards: A $12,600 @ 13.99%; B $1,295 @ 15.99%; C $1,745 @ 18.99% Credit Card Total = $15,640 Total monthly expenses CURRENTLY = $3,925.00 Expenses with Prosper loan = approx. $3,530.00 (as you can see assuming the rate gets bid down, this will reduce our monthly expenses by almost $400.00/month with a more reasonable interest rate.) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 351895 | Paying off my credit cards. | A | $25,000 @ 12% | Jun 17, 2008 | Expired |
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