Duke grad w/ stable job: seeking to pay off high % crdt card
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 16% |
| Lender Rate: | 13% | Borrower: | raleighdave |
| Finished | State: | NC | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-10-20 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Dec 04, 2006 | Current |
| Dec 05, 2006 | Paid |
|
I am a sincere, responsible man, and all I can
offer is my honest story. My intent was to seek out a larger loan
with a higher rate, but I am limited by my state's lending laws, thus
the 15%. I graduated from Duke University awhile back with a tremendous amount of credit card debt. I received a lot of financial aid to attend Duke, and I dug myself into a hole by applying for every credit card I could so that I could pay for basic expenses. I made mistakes, certainly. I did not embark on a lucractive career path, but I used my computer science minor to get reasonable-paying jobs in the IT field. I made the mistake of not making the paying off of my debts a high priority, and a result, the debts only grew. I was never an extravagant spender, but I counted on continued growth in the IT field to enable me to dig myself out eventually. But eventually didn't come. I lost a contract job in 2001, and I could not find a new job due to a highly specialized skillset. I took a job making about 30% of what I had once been making, figuring it was best to just start over. But not even credit counseling could help at this point, so I had to file for bankruptcy. So I have a bankruptcy on my record from 2002. Four years later, after struggling for awhile to find a solid job in my field, I have a very stable job in the IT department at a university. I make $60,000 a year, and I don't have a family to support, other than three pets. When rebuilding credit after bankruptcy, one's only options are accounts with very high interest rates, of which I have a few. I do not have any problems making my payments on these cards, but I would like to be rid of at least one card, starting with the one with an APR of 29%. You may wonder how someone who went through bankruptcy managed to start racking of credit card debt again. Like I said, it was a struggle to find permanent employment, and I was unemployed for awhile, during which time I used credit to survive rather than ask friends or family for help. My FICO score was in the high 500s a couple of years ago, and now it is at 628. I understand that rebuilding my credit and improving my financial situation is a slow process, but I am hoping that Prosper can help. There is one active delinquency on my report; this is an unsettled hospital bill from 2003. There was a protracted dispute over insurance claims, and I'm working on paying it off now. It is awkward for me to try to sell myself as a business opportunity. All I can say is that in the past four years, I have made 48 car payments and 48 rent payments and all of my credit card payments, and there is no reason that I will not fulfull the terms of any Prosper loan I receive. Thank you for your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 43178 | Duke grad, stable job, to pay off high % credit card | D | $1,400 @ 14% | Sep 29, 2006 | Expired |
| 71478 | 1st loan paid off; seek 2nd to continue rebuilding credit | D | $4,300 @ 12% | Dec 07, 2006 | Loan created |
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