A new loan funded (Financial Freedom / Credit Card Consolidation – $25,000 at 11.44%).  I participated via my standing order RL Overlooked.  The borrower had AA credit, a 37% DTI.  As a reminder my standing orders (and manual bids) 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 $5,047.15 in principal across 79 loans ($63.89 per loan) with an weighted average interest rate of 17.59% and an account value of $5,387.82. Each loan on average is 1.2% of my portfolio with a maximum in any one loan being 3.7%.

Here is the listing:

For the readers that believe in reading the actual description without modification:

Purpose of loan:
Hello, Prosper Lenders,   I am re-listing and providing more information this time around.  I’m putting it all out there.  I’m a hard-working, dedicated teacher, a mother of 3 (one married), and a responsible tax-paying citizen.  Like many, I have over-extended myself with credit card debt and a credit union loan.  I made the loan to buy our daughter a car.  I make my monthly payments on time every month, but don’t seem to be getting anywhere with the credit cards.  I’m hoping to combine the credit union loan I have, pay off some smaller bills listed, and pay off the large credit card debt once and for all!

My financial situation:
I have a AA credit score, earn a good living and have never missed a payment on anything!  Like many, I’ve managed to get too much debt on my credit cards and have other outstanding loans that make it hard to see progress.  I want to end the frustrations of high interest and stress in my life and build a better, financially sound future for my family. 

Monthly Salary (after deductions):  $3300

My monthly budget:
Mortgage/rent: $0 (My husband pays our mortgage – $700 monthly)
Insurance: $320
Car expenses: $489
Utilities: $140
Phone, cable, internet: $170
Food, entertainment: $400
Clothing, household expenses $150
Credit card #1- $500 (will pay off with loan)
Furniture store loan- $120 (will pay off with loan)
Medical Bills- $100 (will pay off with loan)
Credit Union Loan- $417 (will pay off with loan)
Gas Cards $120
—————————————
Total monthly expenses: $2926

Current Extra Cash Flow: $300

Cash Flow w/Prosper Loan to Consolidate:  $650

I appreciate your help and your time!

Respectfully yours,
Dedicated Teacher

Here is a graph of all loans on Prosper with A credit and a DTI of < 13% and Loan Amount $15,000 +/-$5,000 funded in the last 100 days:  

Number of Loans	Average Amount Borrowed	Weighted Average	Standard Deviation
68	$20,770.59	11.25%	2.80%

The weighted average is 11.25%. This loan is 0.19% above the mean.  I love standing orders, but I have since revised this standing order upwards…  Iam also thinking of splitting into 2 standing orders based on loan size.

What do you think?

 

Related posts:

• New Loan Funded — Debt Consolidation and New Inventory — $5,000 at 22.5% — C Credit — DTI 175% A new loan funded (Debt Consolidation and New Inventory — $5,000 at 22.5%).  I participated via a standing order Low Amt (...
• New Loan Funded — Clearing a personal credit card used for business purchases — $9,500 at 18% — A Credit — DTI 46% A new loan funded (Clearing a personal credit card used for business purchases — $9,500 at 18%).  I participated via an automatic bid Low AMT...
• New Loan Funded — Paying – Bills — $15,000 at 15% — A Credit — DTI 13% A new loan funded (Paying – Bills – $15,000 at 15%).  I participated via my standing order High Amt(>=15K) — Low DTI (...
• New Loan Funded — At wit’s END — $15,000 at 18.5% — B Credit — DTI 72% A new loan funded (At wit’s END – $15,000 at 18.5%).  I participated via a manual bid the loan was Autofunding.  The borrower had B credit, a 72%...
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