Save Us from the Payday Loan Monsters!

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Listing Information
Amount: $3,600.00 Status: Loan created
Grade: HR DTI: 14%
Lender Rate: 21% Borrower: ks1998
Time Left: Finished State: TX
Funded: 100% Group: Have Money - Will Bid
Loan Information
Loan Status: 4+ months late Origination Date: 2007-04-02 EricsCC ROI: -59%
Status History
Mar 30, 2007 Current
Jan 18, 2008 Late
Feb 04, 2008 1 month late
Mar 03, 2008 2 months late
Apr 03, 2008 3 months late
May 03, 2008 4+ months late
Hello and thank you for viewing my listing:

I am a hardworking husband and father. My wife and I have been married for 9 years and have two young boys ages 6 and 7. I have been employed with the same Mortgage company in a salaried position for 10 years.

I made the mistake of picking a more affordable Health insurance from my employer in 2000 to try and save money. As luck would have it, this would be the year we seemed to have the kids at the Doctors office constantly. After trying to keep our heads above water for several years, we made the decision to file bankruptcy in September of 2005. We were discharged in December of 2005 from the bankruptcy.

Last summer on our road to recovery from our bankruptcy, I made the mistake of obtaining a payday loan which led to another, thanks to the 400%+ interest.

Unfortunately, now that I am paying into Pay Day Loans, I need help to get out of them.

I would use the Prosper Loan to pay off the following Pay Day Loans and Credit Cards:

Cashnet USA.com- $650.00
Cashnet500.com- $300.00
Payday-Loan-Yes.com- $300.00

HSBC $450.00
Merrick Bank $750.00
HSBC $400.00
Capital One $700.00


$3550.00 total

As I stated earlier, I am an Underwriter and have maintained a stable position with the same Mortgage company for 10 years. My current monthly net income is $3125.

Here is my monthly budget with the Prosper loan in place:

Rent: $1250
Van: $350
Electric: $150
City: $50
Phone: $87
Insurance: $110
Food: $400
Conns Credit: $64
-------------------------
$2461 ? Total monthly expenditures

As you can see, with just a little help, I have over $600 left over, not only for my Prosper payment, but also to be used for savings and emergencies so that I never get into this situation again. I can begin to live a normal life free from the stress caused by Pay Day Loans. I have learned my lesson.

I promise that my payments to Prosper will be my top priority each month. In fact, I am going to have Prosper automatically withdraw my payments each month so that everyone, including myself knows that my payment will be made on time, every time. I?m not about to make a mistake with this opportunity to start rebuilding my credit.

Thank you for taking the time to read my listing.
Borrower's Other Listings
112128 Save us from the Payday loan Monsters! HR $3,500 @ 24% Mar 16, 2007 Withdrawn

 

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