Rather pay you than credit card companies.
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 11% |
| Lender Rate: | 13% | Borrower: | TheMcNasty |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-12-21 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Dec 20, 2006 | Current |
| Apr 10, 2007 | Payoff in progress |
| Apr 14, 2007 | Paid |
|
This is try #3 to get funded (almost made it last time) with a new higher rate! I took too long finding a job out of school and ran out of money, even with a sugar momma letting me stay at her place rent free, I couldn't come up with enough money to pay my minimums on my student loans and credit cards and considering my options I decided to pay the loans and miss the card payments. My credit cards salivated at the chance to turn that 0%APR into 30% and have been draining me ever since. I'm no irresponsible idiot, I was jetting all over the country interviewing and could not get a regular job during that time and had no outside source of funds. I traded a signing bonus for a higher salary because I'm planning on staying at this company for several years. I'd like to get this loan to quickly wipe out the high penalty APRs on these cards. I have just started a career that pays very well and I've been sinking a grand or so a month into the cards and they will be gone by next summer, but I'd rather pay you, the wonderful people of prosper, my hard earned money and not capital one or chase. Yes, my credit score says C and a few months ago it was even as low as D, but that doesn't mean anything more than I have 3 credit cards and 2 loans and missed a month of payments last summer on two of those cards. Just prior I had maintained an AA rating for 4 years and my credit is on the rise (hence C from D and likely reaching B shortly as I just killed off one loan and a card). This loan will go directly to paying off the credit cards, putting both remaining to 0 balance. My financial plan is to pay the bare minimum on my federal loans until they are gone since they are at a rate below inflation. Any debt above 3.5% will be paid off aggressively; starting with the highest APR while paying minimums on the lower APR loans until they are all gone (this loan would fall into this category). Based on my current income, debt and expenses I will be debt free in about a year and a half. If I buy a house or car it will likely be after my credit score is back up to A or AA. My current debt to income is moderate, but the vast majority of the debt is federal student loans at very low interest. Once I have no outstanding debt above 5% I will start putting excess capital into prosper! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 42864 | Lost intro period on credit cards. Im good for it, read desc | D | $12,000 @ 15% | Sep 28, 2006 | Expired |
| 72319 | Took too long job hunting, credit cards killing me. | C | $5,000 @ 10% | Dec 08, 2006 | Withdrawn |
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