Debt consolidation of small loans
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,300.00 | Status: | Loan created |
| Grade: | C | DTI: | 13% |
| Lender Rate: | 11% | Borrower: | TXpreneur |
| Finished | State: | TX | |
| Funded: | 100% | Group: | Harvard University Alumni & Students |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-12-18 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Dec 16, 2006 | Current |
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Thank you for reading my ad!I'd like this loan to consolidate a few high interest rate credit cards and eliminate some credit lines. Specifically,Sears: $2020 @ 24.6% interest CapitalOne: $495 @ 14.9% interest Lowe's: $785 @ 24% interest I opened the Sears card as part of a "one-day" promotion at their store on April 1st. In exchange for opening the card, I was supposed to receive a 20% refund on any items that were over $400. I was shopping for appliances so this sounded like a good idea. The deal also included 6 months interest free. Well, I submitted my rebates, certified mail, return receipt requested and never received the $250 from Sears that I was supposed to receive (not all of the $2000 was eligible for the 20% discount). Their response was to resubmit the forms, since they had no record of receiving them. (I have heard it is common practice to try to cheat people out of mail-in rebates, but I never imagined Sears would engage in the practice.) During the six month interest free period there was a death in my family in NC requiring me to travel from Houston on short notice (the cost of travel and helping my family cost more than $2000). Normally, I would have more in savings, but I bought my house, a fixer-upper, in Nov. 2005 and I've spent almost $10,000 on upgrades and improvements to it. To make a long story short now that the six months have expired, I find myself with this new high rate card. Now, I could probably pay it off over the next six months, but it irks me to pay any interest at all to Sears. I really like the concept of Prosper, and I'm also a lender on here (though I haven't funded anything yet). So, I thought, "why not try this?" I want to get rid of these other small cards to simplify my life and number of bills that I have to track. My income is solid; after paying bills, mortgage, etc. I usually have about $1600-$1800 left over each month. I've worked at the same company for 5 years in management. I have a bachelor's and graduate degrees. The past delinquencies on my account were from when I first finished from grad school. I have always repaid my debts and this one will be no exception. Thanks again. |
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