Paying off my high interest credit card
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,950.00 | Status: | Loan created |
| Grade: | B | DTI: | 26% |
| Lender Rate: | 16% | Borrower: | moola-advocator |
| Finished | State: | WA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-07 | EricsCC ROI: | 15% |
| Status History | |
|---|---|
| Oct 06, 2008 | Current |
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Purpose of loan: The purpose of this loan is to pay off a credit card that I have, which carries a high interest rate of 28.99%. I want to bring down the interest rate so I may actually apply more of my money towards the principal owed and get this account paid off sooner rather than later. My financial situation: I am a good candidate because I'm a responsible individual that makes timely payments (in fact, about 85% of my monthly bills are paid via "automatic withdrawal" from my checking account to keep my credit in good standing). Unfortunately, I incurred additional debt when the economy shifted and my real estate career began to suffer. Fortunately, I was able to re-establish myself in the corporate world with steady income. I am trying to pay off this high interest credit card and that is why I am applying for a low interest loan. Thank you for your time and consideration. Monthly net income: $ 5375 Monthly expenses: $ 4695 Housing: $ 2360 Insurance: $ 210 Car expenses: $ 140 Utilities: $ 150 Phone, cable, internet: $ 150 Food, entertainment: $ 200 Clothing, household expenses $ 75 Credit cards and other loans: $ 1210 Other expenses: $ 200 Funds Available to Pay Prosper Loan: $680 |
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