Redistribution of Debt / Investing in Prosper
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 20% |
| Lender Rate: | 12% | Borrower: | Infantry_Officer |
| Finished | State: | MI | |
| Funded: | 100% | Group: | Rock Solid Venture Capital |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-02 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Apr 02, 2007 | Current |
| Sep 24, 2008 | Payoff in progress |
| Sep 27, 2008 | Paid |
|
OK now, this is my third try. I went ahead and put my Michigan home address down so that I can offer a higher interest rate since my Virginia home address limited me to the state of Virginia maximum of 10.5....so bid away and make more money! I am a 44 year old divorced male. I am responsible for Sales and Marketing for a large German company based in Virginia. I have worked International sales/marketing and operations for 15 years. My base salary is 120K per year, I also receive Army Reserve pay of roughly 10K per year and executive incentives that include a company car, unlimited bonus potential. I was mobilized for one year until this past June in support of Iraqi Freedom during which time my employer was most supportive. Although I am comfortably paid, my divorce (I retained 30% of our assets and 100% of our debt by my choice) and Reserve activation have hampered some of my financial plans. I currently live in Virginia yet own a home in Michigan as well. I am very solvent and wish to use Prosper as a borrower and then as a lender. I am a huge retirement saver with my whole Army Reserve salary going to the government's 401K plan (TSP). Borrowing Intent: I plan on using these funds to pay off a large portion of my credit card debts at a lower interest and faster amortization rate as well as develop excellent Prosper credit. As you can see from my budget below, I have $925 left over after my two reimbursable expenses and I have $1000 in monthly savings that can be diverted to my Prosper loan. I also plan on investing 2 - 3,000 of this loan back into Prosper to help offset my higher interest cost. Please look at me as being a safe investment in your overall lending strategy. A lender needs a variety of risks and rates of return to ensure protection of your assets. I look forward to borrowing from Prosper and to making my lenders a nice return on their investment. Who knows, you might be borrowing from me this time next year. David PS I researched the current delinquency and it is NOT a current delinquency....it is a 5 year old entry that is not an actual bill and appears every now and then back on my file. I am not past due on any of my accounts nor have I been. The only past dues in the far past were from payments not making it on time due to my travel and/or deployment. For the past few years ALL of my bills get paid automatically through BillPay in order to avoid that happening again. I can assure you I am an EXCELLENT credit risk. Monthly Income: $ 13,000 Taxes (Fed, St, SS) 3,800 Charitable giving 750 Housing (incl utilities) 3,600 Auto 700 Insurance 150 Company car 350 (this is reimbursed by my company) Credit Cards 600 (18%) interest Savings 1000 Entertainment 400 Cell Phone 250 ($125 reimbursed by my company) Clothing 300 Food 400 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 109013 | Real Estate Taxes AND Engagement Ring! | B | $13,000 @ 11% | Mar 09, 2007 | Withdrawn |
| 110891 | Redistribution of debt | B | $15,000 @ 11% | Mar 14, 2007 | Withdrawn |
| 226893 | Redistribution of Debt / Investing in Prosper | B | $12,000 @ 12% | Nov 06, 2007 | Cancelled |
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