Funds for Student Loan and Credit Cards
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,000.00 | Status: | Loan created |
| Grade: | E | DTI: | 14% |
| Lender Rate: | 26% | Borrower: | dclay |
| Finished | State: | MO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-12-08 | EricsCC ROI: | 20% |
| Status History | |
|---|---|
| Dec 08, 2006 | Current |
|
Background My name is Daniel and I am married with one son. I have been working for the federal government for the last 8 years as an inspector. I have a BA, and currently I am in graduate school working to gain more education so I can promote higher. My wife, though getting a late start, completed her degree and is currently looking for employment. About 9 to 10 years we ran into financial hardship due to medical bills, and I lost my job when the company I worked for was purchased by another company and they replaced everyone. Since that time I went to work for the federal government so that I would have financial security. In the last 8 years I have purchased and paid off three newer used cars, which were not reported to the credit agencies. I purchased the cars from a family friend who owns a very small town used car dealership. He never reports to the agencies, so they didn?t help my credit much. I have also paid off a couple of other loans in the past years. This year I paid off my Nissan Sentra, which I purchased new a few years ago. I recently purchased a new Jeep Liberty from Chrysler Financial with an interest rate of 5.9%. Reason for Loan I am requesting a loan to pay off a couple of credit cards and pay off my wife?s remaining student loan, so that I have the balances paid to help with my credit and to have just one payment. The amounts on the credit cards were used to pay for school, but I recently got a scholarship to pay for most of my remaining classes. I don?t plan on using them again until I get any new loans paid, excluding my car payment. We have talked to the bank and can get the funds to purchase a new home next year, but any increased in our credit would help with rates. Prosper.com stated that my debt ration was 11%, which is low, since they state 20% is normal. I haven?t used sick leave in nearly 4 years, so if I were to get ill or hurt, I will still have a pay-check. I also have enough money in my Thrift Savings Plan (the government?s 401) to borrow to pay off my Jeep and any other loans, if something were to happen to me. I also have great health insurance, which eliminates the risk of costly medical bills. My current pay will easily cover the monthly payment of the loan I am requesting. When I my wife starts working, this loan would be the first to pay off completely. I made bad decisions, and had some bad luck when I was younger, but now I am financially secure and just need a little loan to get my credit up a little more and simplify my payments. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 268003 | Pay off Funeral Expenses and Medical Bill | D | $5,000 @ 28% | Jan 19, 2008 | Expired |
| 309852 | Pay off Funeral Expenses and Medical Bill | E | $5,000 @ 35% | Apr 13, 2008 | Expired |
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