Salary increase put to good use
| Listing Information | |||
|---|---|---|---|
| Amount: | $6,000.00 | Status: | Loan created |
| Grade: | HR | DTI: | 19% |
| Lender Rate: | 27% | Borrower: | adkins969 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | Psalms 1:1-3 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-03-27 | EricsCC ROI: | 21% |
| Status History | |
|---|---|
| Mar 25, 2007 | Current |
|
About me- My husband and I will be relocating to NYC from Atlanta, GA with my company of ten years transferring me. I want to make this transfer a fresh start with my first step being to clear up some past due debt, this being possible because I received a promotion/pay raise with my company. My lease in Atlanta is ending 3/31 so I owe nothing there and my rent in NY is listed in the budget below. My credit rating- My husband was laid off from his twelve year job in Atlanta and our ability to pay on our debt became impossible. Our credit score in turn took a nose dive due to late or non-payments. I am trying hard to avoid bankruptcy because I believe I can pay our debts with my increase in salary. What this loan is used for- I would like to offer my creditors a lump sum payment in return for a release of the debt. Some of the debt is so past due that I believe most of the creditors will accept a payment of 50% of the balance owed. I have $13,000.00 in unsecured debt that I would like to offer creditors .50 cents on the dollar payment which would be the $6,500 prosper loan. My income- I am in a salaried position with semi-monthly payroll. Total take home pay is $3,380 after tax. I am also trying to sell my auto since I don't need it in NYC. I owe $9,000 and the 2004 Pontiac Vibe is worth around $9,500 so I hope to sell it soon and have that payment and the car insurance removed from the below budget. My expenses- Prosper loan $261 Rent/Utilities $1695 Car $294 Food $160 Subway $50 Car Insurance $100 Total $2560 Total Monthly Income $3380 - Total Monthly Expenses $2560 Remaining $820 (Selling the car would free up an additional $394 leaving $1214) Paying off loan- After paying the prosper loan and my monthly expenses I will have around $820 in disposable income to pay creditors on a payment plan who do not except a reduced payoff. I sincerely thank you for taking the time to read about me and my situation and appreciate your consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 107334 | Get current on past dues! | HR | $4,000 @ 15% | Mar 06, 2007 | Expired |
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