Consolidation of a High Interest Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 24% |
| Lender Rate: | 18% | Borrower: | mjhwario2001 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-12-19 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| Dec 18, 2006 | Current |
| Jun 09, 2007 | Paid |
|
Hello and thank you for taking the time to read my request. In December of 2004 I obtained a personal loan in the amount of $10,000 with an interest rate of 39.5%. The reason I took this loan was because I was in the Mortgage Industry at the time and the Real Estate Market went from decent to horrible here in Sacramento, Ca. Credit card debt was growing and being on commission only, I wasn't sure when the next check was going to be here. I made the decision early last year to to search for a career path with a stable position with a good base salary. Today, I am a Sales Manager for an insurance company with a base salary of $57,200 with a monthly bonus potential of $1500-$4000. I have paid down my credit card debt from about $5000 to $1000 in the time I have been in this job. Also, I have been paying down the personal loan and the balance is now $8400 which is good considering almost all of the required payment goes to interest on that loan. My credit cards will be paid off this month and I can focus on paying this loan only. My credit grade with Prosper is currently a "D" but there is a definite reason for that. During the past month, I have paid off quite a bit of credit card debt but it does not reflect yet with the bureaus. Also, Prosper pulls the Experian Report and traditionally that is the lowest score of the three. My FICO with transunion is 650 and that would put me in the "C" grade. But, I respect what Experian says of my credit grade and I know it will only get better. I do not have any current late payments and the last one I had was in December of 2004 due to my error but it should be off now. I had two accounts go into collections years ago in College but I paid those off a long time ago. My expenses as follows: $650/month - Rent $388/month - Car Payment $140/month - Student Loan $75/month - Cable and Utilities $0/month - Gas (my company pays for my gas) $0/month - Cell Phone (company pays for my cell phone) $175/month - Food ( I travel about two weeks a month and my company pays for my food while traveling)$333/month - Personal Loan (will pay this off with the proceeds of the Prosper Loan) $100/month - Car Insurance $50/month - Credit Cards (will be paid off by end of December) $100/month - Misc. and entertainment ------- Total Expenses: $2011 Gross Monthly Income: $4766 + bonus (we are paid bi-weekly, 26 checks/year. divide $57200 by 24 for monthly income) I hope you consider me for this loan as I feel I am an excellent candidate. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 65467 | Consolidation of a High Interest Loan | D | $10,000 @ 20% | Nov 22, 2006 | Withdrawn |
| 67178 | Consolidation of a High Intersest Loan | D | $7,500 @ 22% | Nov 27, 2006 | Withdrawn |
| 150410 | Consolidation of a High Interest Loan | C | $10,500 @ 14% | Jun 11, 2007 | Loan created |
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