**Paying off High Interest Card** Saving $$$ **
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 16% |
| Lender Rate: | 13% | Borrower: | JEMMA |
| Finished | State: | FL | |
| Funded: | 100% | Group: | Apple User Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-12-28 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Dec 28, 2006 | Current |
|
About Me I have been researching Prosper, because I am interested in obtaining a loan to pay off one high interest credit card. I have been employed in the insurance industry for the past 10 years and have been with my current company for over 3 years. After college, I made mistakes with my credit, but have been working hard to correct and pay off past debts. Last year, I was able to purchase my first home. The mortgage is a 30 year FIXED RATE. The property has been under renovation for the past year, and the renovations are now complete. I currently have approximately $30,000 in equity in the property. My Goal In an effort to get the renovation job completed within my set time frame, I did put some of the final renovations on my credit card. I now owe approx $11500.00 @ 30% interest on a Visa Card. I would like to obtain a lower interest loan to pay off this card as quickly as possible. My goal is to be debt free. Why Prosper? I have recently inquired about getting a home equity loan, but decided against it due to the closing costs, and the fact that I did not need the amount of money that was being offered. Prosper offers a great alternative for my specific needs. I will be able to pay off this debt in 3 years or less at a much lower interest rate! Credit Report Explanation Inquiries over the past year are related to: 1) AMEX, Corporate Credit Card, the limit was raised from $5000 to unlimited by the company, 2)VISA, I increased the limit by $2500.00 for home repairs 3) Mortgage Company I do not have any current delinquencies. I am dedicated to keeping all of my accounts current. My Current Finances and Budget My current Gross Income is $5503.00 per month and my net income is $4100.00 per month. (I have 7% pre-tax income going toward 401k.) My job requires that I travel 21 days per month, so I also get a daily $40 day per diem for food and dry cleaning. All other related travel expenses are paid directly by the company. My car, gas, insurance and cell phone are also paid for by the company. The per diem is not taxable and is deposited directly into my account on a bi-weekly basis. The per diem amount totals $840/month. Total Income: $4100.00 + $840.00 = $4940.00 Expenses $2100.00 Housing (Includes mortgage, tax & insurance) $ 75.00 Utilities & Cable $ 180.00 Student Loan $ 400.00 VISA Credit Card* ($11500 balance, will be paid with Prosper Loan*) $ 350.00 Food $ 150.00 Misc Expenses (Dry Cleaning, Entertainment) $3255.00 Net Expenses $4940.00 (Income) - $3255.00 (Expenses) = $1685.00 (Remaining) Thank you for the consideration. I will make timely monthly payments that will be automatically deducted from my bank account. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 268984 | **Paying off High Interest Loan** Saving $$$ ** | B | $10,000 @ 16% | Jan 22, 2008 | Expired |
| 287367 | **Paying Taxes**** | B | $2,500 @ 11% | Mar 03, 2008 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|