Eric's Credit Community

      A little bit about us. We are a young couple (27 and 28) with no children and two mischievous  Soft Coated Wheaten Terriers that think they are children.  With a little help from both sets of our folks we were able to close on our first home last May. In order to get into a larger home we have to get my wife's credit history back on track. She helped put me through law school on her then teacher's salary and now we need to rectify that situation now that we are actually making some money.

       I am an attorney (don't hold that against me) practicing in a two man firm in .  My wife is a center director at a   We are both graduates of the , and I went on to their law school.  I opened my own firm after passing the bar in the spring of 2004 on a graduation gift from my parents.  The phone rang quicker than anticipated and less than three years later, I have a support staff, a law partner and we will be looking for larger space when the lease runs up in July.  In other words, things are taking off. 

     Personality wise, it is killing me to have this debt hanging over our heads. I am a Microsoft Money addict and am extremely organized when it comes to our personal finances.

About our Finances

            We racked up some pretty good credit card bills in my wife?s name when I was in law school.  These include:

Chase $3000 @ 29% to be paid off with loan

Target $4000 @ 19% to be paid off with loan

Capital One $1500 @ 15% to be paid off with loan and tax refund

This is the totality of our revolving debt. 

Bills and expenses include:  Utility $30, Student Loans $700, Mortgage $1600, Credit Card Bills $400 (this loan will eliminate $300 of this amount), Home Owner's Association $200, Car payment $175, Cable and Internet $140, Car Insurance $60.  I am also covered for 80 percent of my income under a lawyer-specific disability plan, so there is a reduced risk of financial catastrophe upon an illness or disability, god forbid. 
Additionally, we have $6,000 in various savings and investment accounts.  

I am looking forward to paying the Prosper loan with a smile each month as we waive goodbye to our high interest revolving debt. Thanks for bidding, and I trust that your investment in our future pays off dividends for us both.