No More Pay Day Loans For Me!!
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 35% |
| Lender Rate: | 17% | Borrower: | PositiveCashFlow |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Pay Day Loan Terminators |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2007-03-23 | EricsCC ROI: | -47% |
| Status History | |
|---|---|
| Mar 23, 2007 | Current |
| Mar 10, 2008 | Late |
| Mar 24, 2008 | 1 month late |
| Apr 24, 2008 | 2 months late |
| May 24, 2008 | 3 months late |
| Jun 18, 2008 | 2 months late |
| Jun 28, 2008 | 3 months late |
| Jul 24, 2008 | 4+ months late |
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A Little about me: I am a 41 year old single woman who lives in California. I work for 5 eye surgeons in a busy growing office. I work as a medical biller. I work 40 hours per week at that practice and have been with them 3 years now. I am also a grocery checker at a small store in Lincoln. I have worked at the store 5 years going on 6. I work part time 3 nights a week for the store. I enjoy both jobs. I enjoy helping people. How I got into trouble: I was paying my monthly bills and I started getting behind on my P G & E bill. I figured I could slide a little on my utilities because they don't charge you interest like the credit cards. The main thing I wanted to do was make sure my mortgage, car payment, and credit cards were paid on time because those are the ones that affect your credit. I was given 24 hrs to pay or they would turn off my PG & E. I asked my close friends and they were ?strapped" for money too. I thought I could see about getting a payday loan that was advertised along the road. I didn't realize that I would soon find myself in a tailspin trying to figure out how to pay the high interest loans off. Every payday I had less and less money due to the interest loan charges. The interest is between 285-395%!!! I knew I couldn't work any more hours at the store because I already am working 60+ hours per week between both jobs. My dear friend told me about Prosper.com. I thought I would give it a try. In the original loan request, I had requested to pay off my payday loans of $2550 @ 13.85% interest. That loan did not get funded. Because I had to roll over the payday loans again, I am also requesting to pay off my Cash Call Loan of $5000. I had not wanted to add that originally because I thought I could handle that payment without Prosper. I am offering to pay a much higher rate of 28% due to the high interest on both the payday loans and the 59% on the Cash Call Loan. What will I do with this? : I am going to pay off Cash Call Loan of $5000, and the payday loans of $5500 are as follows: Cash Net $300, Cash2day $280, United Cash Loans $390, Arrowhead Inv $390, A.I.P $300, Payday Loan Yes $520, P.P.G.C. $350, Mesa $390, Advance America $300, AmeriLoan $390, USA Cash $300, CA Check Cashing $300, Loan Shop $390, USA Cash $300, Ace Cash Exp $300 & Loan Mart $300. All of the loans are paid on time and in good standing. Once these are paid off, I can then focus on paying off my Prosper Loan. My current monthly payments: My current net monthly income is $4085. My daughter helps me when she can, but she is a part time student at college and works. Current Net Income $4085 (after deductions): Mortgage $1637 Car Payment $485 Car Insurance $135 Utilities $200 Cash Call Loan $275 IRS Payments $250 (4 more to go) Phone $125 Dentist $23 JC Penny's $20 Sears $10 Macy's $5 Groceries $500 Gas $180 As you can see above, after my monthly expenses, I have $240 left for misc. With my payday loan interest compounding every payday, I am not able to get out from under the tail spin. After the Prosper loan is funded, I will be able to free up my outgoing expenses by an extra $275 per month. That will make my positive cash flow at $515 which will be more than enough to handle the Prosper loan. In Closing: Pay day loans are not the answer. I realize that I have made a pretty big mess of my finances. I would love for the opportunity to be given a fresh start! With your help I can get back on track and be able to sleep at night. If you have been where I am, and know that you were able to turn things around for someone else, please consider bidding on this loan. Thank you again, Laurie -Positive Cash Flow |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 101041 | IRS / Dentist / Sm Credit Card Pay-off | C | $2,550 @ 14% | Feb 18, 2007 | Expired |
| 103078 | No More Pay Day Loans!!! | C | $2,550 @ 14% | Feb 25, 2007 | Expired |
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