Looking to Consolidate High Interest Cards 0/0/0
| Listing Information | |||
|---|---|---|---|
| Amount: | $9,500.00 | Status: | Loan created |
| Grade: | D | DTI: | 52% |
| Lender Rate: | 19% | Borrower: | BlondeAmbition |
| Finished | State: | IL | |
| Funded: | 100% | Group: | MONEY DIES |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-02-05 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Feb 03, 2007 | Current |
| Nov 13, 2008 | Payoff in progress |
| Nov 19, 2008 | Paid |
|
Hello Lenders! After joining a group and spending additional time reading and learning, I'm taking another stab at this. I am a 25 y/o professional looking to consolidate 4 high interest credit cards into one lower interest rate loan. You will see that my credit record has no delinquencies, and dates back to 2000. My higher DTI is due to the fact that I have two automobiles on my credit. I only pay for one of these, and can document this if needed. I do, however, make sure that I have enough left over in my budget and enough in savings that I am covered if something were to happen that would require me to pay for it. My bank account is verified, and my identity and income have been vetted by my GL. I hold a Bachelor's, work full time in marketing, and have been in the same industry since I graduated college in 2005. I make 48k per year (not including bonuses, which are not guaranteed) and also hold a second job on weekends working with animals making 300-500 per month, depending on how many hours I choose to work. I also have a savings account and a modest 401(k). I would like to consolidate the following credit cards: Card: Balance: Min. Payment: Rate: Months to Pay at Min. Citi Student 2950.00 104.00 32% 53 Citibank 1266.50 38.00 32% 80 Zales 3511.00 113.00 26% 50 Chase 1450.00 50.00 29% 50 I pay 375.00 per month on these 4 cards (I usually pay more than min. on the ones with 32% rate) Pre-Prosper Loan Monthly budget: Net Monthly income: $2800 to $3000 Rent: $502 Student loan: $106.52 Utilities: $75 Food: $100 Gas $100 Car Payment: $381 Credit card payments: $800 Savings $200 Total Debts: 2264.52 After Prosper Loan: Credit card min. payments: $800 - $375.00 = $425.00 + Prosper Loan $367.74 = $792.74 By getting this Prosper loan, I will be reduce my total monthly debt by approx $7.26/mo & will be able to pay all these cards off in 3 years, rather than 4, 6, 4 and 4 years respectively. Net Monthly income: $2800 to $3000 Minus Debts: - $2257.26 =$542.74 to $742.74 leftover each mo. As you can see, I have comfortable room in my budget to pay this Prosper loan. If you are interested in seeing a link to my previous RML thread/vetting thread, it can be found here: http://forums.prosp |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 85470 | Need to raise credit score and consolidate cards! | D | $12,000 @ 20% | Jan 16, 2007 | Withdrawn |
| 85509 | Help me consolidate my evil, high interest cards! | D | $12,000 @ 20% | Jan 16, 2007 | Withdrawn |
| 257010 | Proven borrower needs loan for wedding expenses | E | $5,000 @ 29% | Dec 29, 2007 | Expired |
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