Debt consolidation

Borrower Member Loan 908948 | Lending Club Prospectus

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Amount Requested
Loan Purpose Debt consolidation
Loan Grade E5
Interest Rate 20.30%
Loan Length 5 years (60 payments)
Monthly Payment $485.24 / month
Funding Received $18,200 (100.00% funded)
Investors 338 people funded this loan
Note issued on 10/21/11 2:24 AM
Note Status Charged Off
Loan Submitted on 10/8/11 12:09 PM

Borrower Profile

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Loan Description

Borrower added on 10/12/11 > This is to pay off credit cards and 2 other high interest loans
Borrower added on 10/12/11 > sunbelt credit, 29%, i owe about 1200.00, citi financial 30%, I owe 4200.00, citicard, 15.6% i owe 6200, applied card bank 23% i owe 1900. creditone bank, i owe 1000. ford credit i owe 9000.00
Borrower added on 10/15/11 > I plan on closing all credit card accounts except for one to keep for emergency situations

Questions & Answers

Q: What are your current debt balances, interest rates, and monthly payments by type (credit cards, student loans, mortgages, lines of credit, etc)?
A: (10/12/2011-08:17) - sunbelt credit 125/mo., citifinancial, 167/mo. citi card 300/mo, applied card bank 150/mo., creditone bank 100/mo, ford credit 498/ mo.

Q: What are your current monthly expenses (rent, transportation, utilities, phone, insurance, food, etc)?
A: (10/18/2011-17:23) - Hi, my rent is 450/mo. utitlities are around 150/mo, phone is 84/mo, insurance 43/ mo, food 75/wk, truck payment is 497/mo. If my loan is fully funded, I want to pay 4000 to ford credit leaving me with a balance of 4500 and allowing me to pay it off within the next 10 months.

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"The interest rate on my loan through Lending Club is a third less than what I was paying before, and it’s very satisfying to know that there is an end date for being done with my debt."