Eliminate debt & Improve Credit Rating
| Listing Information | |||
|---|---|---|---|
| Amount: | $18,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 29% |
| Lender Rate: | 15% | Borrower: | 4rfamily |
| Finished | State: | AZ | |
| Funded: | 100% | Group: | Computer & IT Professionals |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-03-29 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Mar 29, 2007 | Current |
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I?m relisting under a new group and for a lower amount. I hope there are lenders that will provide us with the chance to get back on track. I promise not to let you down & appreciate your help. Many thanks to those who bid previously and hope you will re-bid once again. ABOUT US: I am 49 years old, married for 24 years to a wonderful person, my best friend, and soul mate. We both are college graduates, her in the health profession and I in Engineering. We have both been in our current professions for over 25 years. I have been with my current employer for twenty-three (23) of those years. We have 3 children ages 15, 20, and 21 as well as an 18 month old grandson. My oldest daughter is a senior at our state university with hopes of completing her degree in bio-medical engineering within a year. I suppose she?s taken a little bit from each of our careers and hopes to help others by focusing on people with physical disabilities. EXPLANATION OF BAD CREDIT: I have always been responsible with my finances and prior to our current situation had carried excellent credit for my entire working life. My wife went back to school a couple of years ago since her current field in radiology had pretty much hit the ceiling for advancement. This was a difficult time for us financially, with two full time students, which put us behind on some of our obligations and a significant factor for our current situation. (Another factor was related to personal tribulations with one of my other children which I prefer not to elaborate on.) However, I still honestly believe that continuing her education was a wise decision which will allow her to ?Prosper? and help our family in the long run. My wife graduated in December with her degree in Ultrasound and recently passed her board certification! She is back to a full-time work status in her new field and in itself places us in a better overall financial position. Obviously the return on investment will not be immediate but the potential for steady advancement is in place and I have all the confidence in the world in her. WHAT I WILL DO WITH THE MONEY LOANED TO ME: This loan would provide a push-start, per se, for catching up on some financial obligations, paying off some debt, and getting back on our feet. This includes some personal debts as well as eliminating some additional back payments on our mortgage which is currently on a repayment plan. There are also some home improvements that are overdue and this will also allow us to look into possibly refinancing our home in the next year or so. This may allow us to pay the prosper loan prior to full term. $ 6,200 (to get mortgage current) $ 5,100 (high % rate loan on vehicle) $ 4,000 (personal/family loans) $ 2,700 (home improvements) HERE ARE MY MONTHLY FINANCIAL DETAILS: Net income after payroll deductions from all sources: $ 7593.00 (Avg from Bi-Weekly $3504.00 pay) Spouse's Income: $ 3900.00 (Avg from Bi-weekly $1800 pay) Total monthly family Income $ 11,493.00 Mortgage/Rent: $ 4115.00 Phone: $45 Electricity & Water: $ 160 Car Loan and Operating Expenses: $ 703.00 ($429.00 to be paid off) Food: $ 350 Insurance: $ 300 Cable/Internet: $ 80 Credit cards and loans that won't be paid off with my Prosper loan: $ 1411 Other: $ 820.00 (mort re-pymt to be eliminated) ----------------------- Total Monthly Expenses : $ 7984.00 I will have $3509.00 left to make the payments on my Prosper loan. However, the payments I will eliminate will be more than enough to cover the Prosper loan. CLOSING REMARKS TO LENDERS: I appreciate your consideration for our loan request. We are confident that with your help we can correct our financial situation and eventually achieve the good credit rating we once had. I hope to someday have the ability |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 110615 | Payoff debt & Improve Credit Rating | B | $23,000 @ 17% | Mar 13, 2007 | Withdrawn |
| 111711 | Re-list with Higher % - Payoff debt/improve credit | B | $23,000 @ 19% | Mar 15, 2007 | Withdrawn |
| 233017 | pay off high% loans | E | $9,500 @ 23% | Nov 17, 2007 | Expired |
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