Paying off my credit cards
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|Loan Status:||Paid||Origination Date:||2008-09-23||EricsCC ROI:||8%|
|Sep 21, 2008||Current|
|Oct 08, 2011||Paid|
Purpose of loan:
This loan will be used to get rid of my Citibank card once and for all! As a teacher, I have been spending more than I should due to budget cuts and high expectations for teacher performance. In order to be a highly qualified/in-demand teacher I felt that I needed to buy supplies for my classroom in order to have a more presentable classroom. Due to the budget cuts in classroom supplies, I have accumulated between $3000 and $5000 worth of debt within the last two months for my classroom supplies. I have learned about Prosper and how it can be a great tool to help reduce interest rates on my current debt.
My financial situation:
I am a good candidate for this loan because I enjoy paying off credit cards and have credit that I have available but choose not to use because they have zero balances. I am striving to adhere to the Dave Ramsey financial approach in that every purchase is based out of necessity and not luxury. I want to purchase items via cash only and not rely on credit cards. That is my ultimate goal in my life. With this loan I am not creating new debt but rather reducing interest rates on current debt so that my DTI can remain in the lower twentieth percentile.
|Borrower's Other Listings|
|605272||Teacher Paying Off Credit Card Debt||B||$11,000 @ 18%||Jun 28, 2012||Cancelled|