Clean C 0/0/0 - State Max Interest - Graduate Student
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 24% |
| Lender Rate: | 12% | Borrower: | Plutomaniac |
| Finished | State: | NY | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-02-02 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Feb 01, 2007 | Current |
|
Who I Am I am a fully supported PhD Engineering Student. I have no delinquencies, and I pay all of my credit cards and bills on time. Before opening an account with Prosper.com, I thought I had perfect credit. Now I see that there is more to a credit score than just paying all your bills on time. Thus this loan will do two things: Allow me to improve my credit score, and help me consolidate some credit card debt (~$5500) at a lower rate. I accumulated the debt at the end of the summer moving into my new apartment for graduate school, when I had to pay my security deposit and rent and buy furniture and groceries all before I started receiving my stipend. Budget As a graduate student on a fellowship, I receive a monthly stipend of $1950 (after taxes, for the next 3+ years). My monthly expenses average about $1000, which covers rent, food, and utilities. This leaves ~$950/mo, which I will use to repay my Prosper loan and perhaps also invest in Prosper. I plan on paying back this loan in less than two years. I take my credit seriously, and if you look at my credit history you can see I have never made a late payment. In summary: Income:$1950/mo Rent:$708/mo Utilities:$50/mo (my share, I have a roommate) Food:$150/mo (my share) Other living expenses: $60/mo (laundry, transportation, school supplies, etc) Budgeting $250 for entertainment, this leaves ~$750 to pay my Prosper loan. I feel I am a very low risk investment as I am a PhD student with a bright future who understands the importance of good credit. I have a stable monthly income and I am paying down my balances every month, but a Prosper loan will allow me to pay everything off much faster and pay less in interest. Since I have no delinquencies I hope my credit score will drastically increase when I pay off the balance on my credit cards. I also plan on looking into getting a secured credit card as suggested elsewhere in the forums. Thanks for looking! Please contact me if you have any questions. Ask me questions in the forum. Note: Since I am using this loan to pay off credit card debt, the DTI Prosper calculates is much higher than it should be as it includes this loan. Before listing, Prosper reported my DTI to be 15%. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 83218 | Consolidate Credit Card Debt | C | $6,000 @ 12% | Jan 09, 2007 | Withdrawn |
| 84110 | Consolidation Loan - Steady income! | C | $6,000 @ 14% | Jan 11, 2007 | Expired |
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