Credit Rebuilder On The Way Up - Not Down

Click Here to view this listing on Prosper
Listing Information
Amount: $1,000.00 Status: Loan created
Grade: HR DTI: 13%
Lender Rate: 21% Borrower: magnoliatwin
Time Left: Finished State: LA
Funded: 100% Group: PsychDoc's Group
Loan Information
Loan Status: Default Origination Date: 2006-05-09 EricsCC ROI: -60%
Status History
Jul 12, 2006 Current
Mar 24, 2007 Late
Apr 10, 2007 1 month late
May 10, 2007 2 months late
Jun 11, 2007 3 months late
Jul 10, 2007 4+ months late
Aug 28, 2007 Default
Dear Lenders:

Please let me first say that I will gladly provide any requested, supporting information to my group leader PsychDoc. Please allow him to proof and verify this sensitive information on mine and your behalf so that my personal, financial information remains secure. I am requesting $1,000 at an interest rate of 20.75 percent, which I believe is my state's maximum annual percentage rate. The funds from this loan will be used to buy a sofa and several other, smaller items for my new place. I would, and can, pay cash for this expense. However, I am VERY leary of dipping into my small savings at this point in my credit and financial rebuilding after needing to file bankruptcy last year. I have learned the importance of saving and planning for unforseen circumstances.

I filed bankruptcy last year after moving back home to work in the family-business in Louisiana whilst I finished school. However, the two hurricanes completely annihilated our business and I could not, in good faith, expect my parents to carry those financial burdens for me. I could have moved back to Denver to renew my former career, which paid well, but my family needed(s) me here to help them and I'm very committed to doing so. The worst of financial situation is very much behind me. I have established several credit, trade lines with perfect payment history since that time. And I have since graduated from college with a 3.6 GPA and now work with a major bank with a salary above $50K per year.

Here is a breakdown of my salary and financial obligations:

Salary: $53,400 per annum, $4,450 per month (Gross)
 Trade Lines
 Payments
 1. Student Loans
 None, In Deferment
 2. Capital One Auto Loan
 $559
 3. Auto Insurance
 $147
 4. Merrick Bank, Credit Card, Balance $80
 $15
 5. Target Bank, Charge Card, Balance $40
 $15
 6. Capital One Bank, Credit Card, $0
 $0
 7. HSBC Bank, Credit Card, Balance $114
 $20
 8. Rent
 $650
 9. Electricity/Utility
 $120
 10. Phone
 $60
 11. Mobile Phone
 $53
 12. Cable
 $43
 13. Gas
 $150
 14. Entertainment/Other Expenses
 $150
 Total $1,982



* Leaving $2,468 less taxes from my gross income to pay this loan back. This will allow me to continue to place funds into my savings and help build good trade lines to improve my credit rating.
Borrower's Other Listings
8113 Small Loan to Rebuild After Katrina HR $1,500 @ 14% Apr 25, 2006 Withdrawn
8212 Small Loan to Rebuild After Katrina HR $1,000 @ 20% Apr 25, 2006 Withdrawn

 

Discussion For This Listing
View Recently Discussed Listings »

No Comments Found For This Listing

Post A Comment
You must be logged in to post comments on listings. Not yet a member? register here