Medical Debt Consolidation & Wedding

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Listing Information
Amount: $8,000.00 Status: Loan created
Grade: HR DTI: 23%
Lender Rate: 21% Borrower: Ashara
Time Left: Finished State: CA
Funded: 100% Group: MONEY DIES
Loan Information
Loan Status: Paid Origination Date: 2007-01-16 EricsCC ROI: 20%
Status History
Jan 13, 2007 Current
Feb 05, 2009 Payoff in progress
Feb 10, 2009 Paid
I am engaged to be married in August.  I have two credit cards with high balances that I would like to pay off so I?m not just paying interest without ever seeing the principle go down.  My DTI is 9.  My current debts, income, and plan to repay Prosper will be explained in the following paragraph, as well as how getting a loan through Prosper will be an extreme benefit to me

Four months ago, I was hospitalized with what was suspected to be appendicitis.  Two days later, the doctors agreed I?d had three ovarian cysts rupture, each about the size of a large orange.  Then I had a reaction to one of the anti-inflammatory drugs they sent me home with, so I was back in the ER the following night.  I was off work for two weeks, heavily dosed on Vicadin to deal with the pain.  I took vacation pay for the time missed, but that didn?t even make a dent in the $8,000 in medical bills I accrued (2 nights in emergency, 1 night in the hospital, several cat scans, blood work, and x-rays).  I?d already had a debt of nearly three thousand preparing for the wedding, but was completely unprepared for this additional and unexpected debt

My current debts are as follows:

Chase Credit Card: 6100 (29.99% interest ? looking to pay off)
Discover Credit Card: 4200 (22.45% interest ? looking to reduce)
Macy?s Credit Card: 250 (looking to pay off)
Orchard Bank Credit Card: 400 (looking to pay off)
Family Loan: 10,000 (included money for college and a medical debt

After taxes, I take home between $1,950 ? 2,140.  I get paid twice a month, the first working day after the 15th, and the first working day after the last day of the month.  I have lived at my residence for three years and never been late or missed a payment.  I have also held the same job working as a secretary/bookkeeper for an automotive shop ever since I graduate from Modesto Junior College with a double major in bookkeeping and English three years ago

My current monthly payments are as follows:
Rent/Utilities/Cable: 600
Food: 150
Sprint: 40
Gas: 60
Insurance: 81
Family Loan: 250
Chase: 250
Disc: 200
Macy?s: 20
Orchard: 20

This leaves me $279 ? 469 left over each month for savings and miscellaneous incurred expenses (replacing tires, changing oil, driveline repair, etc).

If I were to continue to pay off my debts on my own, I would have around $4,200 to pay off the Discover card balance in 19 months.  It would take another 2 months to pay off the Macy?s & Orchard Bank cards.  It would take 41 months to pay off the Chase credit card at its current APR.

If I were to receive a loan through Prosper, I would pay off the Chase, Macy?s, and Orchard Bank credit cards, plus put the remainder towards my Discover Card bill (leaving a $3,800 balance ? paid off in 13 months).  This would be extremely helpful, because then I could actually pay off my debt instead of just the interest that accrues each month.  My payments would then look like this:

Rent/Utilities/Cable: 600
Food: 150
Sprint: 40
Gas: 60
Insurance: 81
Family Loan: 250
Discover: 125
PROSPER: 340

If I paid off my credit cards as shown above, that would be $740 in monthly payments I wouldn?t have to make, which leaves me plenty of money to repay the Prosper loan and put aside a little in savings for the wedding.

Thank you in advance for you consideration.
Borrower's Other Listings
78464 Wedding & Credit Card Payment HR $13,000 @ 12% Dec 27, 2006 Withdrawn
389085 Paying off High Interest Credit Cards to Get Back on Track E $13,000 @ 35% Aug 27, 2008 Expired

 

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