Paying off High Interest Loans
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,500.00 | Status: | Loan created |
| Grade: | E | DTI: | 21% |
| Lender Rate: | 24% | Borrower: | la_liona |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Everyday People |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-12-19 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Dec 19, 2006 | Current |
| Mar 05, 2008 | Late |
| Mar 12, 2008 | Current |
| Apr 03, 2008 | Late |
| Apr 10, 2008 | Current |
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About Me I graduated from Eastern Illinois University in May 2005 as an older student...after working full-time plus two part-time jobs while in school. Currently I work for a non-profit organization as an Admin Assistant. I am a Navy Veteran with a downgraded secret security clearance, as well as a former U.S. Government employee. About my Credit I am a E with ScoreX . I owe the following: $1800 for various payday loans I traded down to a much cheaper car and am saving about $320.00 a month I have a $1,000 loan to a personal friend Medical bills totalling $1368 I need two new front tires for my car $120 My careful budget is now destroyed from the high interest loans! The good news is that I have been fully employed for a year and managed to move and keep up with my current bills. With a Prosper Loan I will save $322 in interest every MONTH! Student loans$ 73 Utilities $ 120 Rent $ 1354 Auto Ins $ 76 Car Payment $ 298 Food $ 150 Misc (includes cell phone) $ 100 Total $2171 My Solution With this loan, I would like to simplify things by making only one payment that would be paid off in full in under 3 years. My plans for this loan are: Pay off the medical bills, payday loans and purchase tires (above) as well as repay the loan to my friend. I have requested a forbearance on the rest of my student loans for 6 months. I intend to apply $322 per month to start a savings, and I have suggested beginning at 29% APR because I realize that lenders deserve a competitive interest rate. I hope to see my rate bid down! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 69406 | Help for the weary! | E | $7,500 @ 20% | Dec 02, 2006 | Withdrawn |
| 70375 | MAKE MONEY OFF OF ME! STICK IT TO THE BANKS | E | $5,500 @ 24% | Dec 04, 2006 | Withdrawn |
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