A new loan funded (really want to get out of debt — $25,000 at 25.00%). I participated via my standing order: Any DTI — AF. Which is this loan was funded as a any debt to income ratio and was an auto-funding loan. The borrow had C credit and 131% DTI. As a reminder my standing orders only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7 years, and 2 or less public records in the last 10.
With this loan I have $3,300 across 53 loans ($62.26 per loan) with an weighted average interest rate of 16.00% and an account value of $3,445.31. Each loan on average is 1.8% of my portfolio.
Here is the listing:
For the readers that believe in reading the actual description without modification:
Hello,
My new goal in life is to get out of debt, and to have an AA credit rating within the next 5 years. Alot[sic] has happened to me and my family this past year, Things that made me realize how important it is to have GREAT CREDIT and be able to get funds when needed and how stupid it is to carry so much debt. I never want to be in this sitution[sic] again. How embararrsing[sic] it is to just realize at the age of 40 how imporant[sic] it is to be finacialy[sic] stable.
I would like you to know this about me, I am a very hard worker and I do NOT pay my bills late. I would like to say thanks for your loan in advance. You will have all your payments in full and on time,
There is only one other loan at Prosper with C Credit, DTI > 60% for $15,000-$25,000. It had an interest rate of 24%.
This loan makes me nervous. I like to have hope, but if this loan falls delinquent I may removed my Any DTI standing orders.
Good luck to me!!!
What do you think?
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