Tring to get Ahead

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Listing Information
Amount: $13,100.00 Status: Loan created
Grade: D DTI: 31%
Lender Rate: 18% Borrower: needabreak20
Time Left: Finished State: CA
Funded: 100% Group: No Bull Investors - We Invest In Good Borrowers
Loan Information
Loan Status: 4+ months late Origination Date: 2007-04-06 EricsCC ROI: -38%
Status History
Apr 06, 2007 Current
Sep 21, 2007 Late
Oct 07, 2007 1 month late
Nov 07, 2007 2 months late
Dec 07, 2007 3 months late
Jan 07, 2008 4+ months late
I am a good hearted, hard working person that has made some poor financial decisions in life. I was divorced a while ago and unfortunately left with quite a bit of debt baggage and have been trying to get ahead ever since. My intention here is to clear up my financial picture so I can one day buy a home, raise a family, or just live w/ less stress. As a single person, I make pretty good money, but have nothing to show for it as I am saddled with bills that seem to never get smaller.

Monthly Financial Details
Monthly Net Income - $3708 (I am paid every two weeks @ 70K/yr)
Monthly Expenses
Auto ? $500
Rent - $1000
Car Insurance - $115
Electric - $140
Home Phone/Internet- $55
Water - $115
Gas - $200
Food - $400
Personal Loan - $140 (total owed: $3500.00....will pay off with this loan)
Credit Cards - $350 (total owed: $9580.00 on 7 cards....will pay off with this loan)
Total Bills: $ 3015
Free Cash Flow After Bills: $693 (+ 2 months w/ extra paycheck)

Use of Funds
$13,080 will allow me to pay off all my credit card and loan debt and have one easy monthly payment. Although the payment I would owe is relatively close to what I pay now, I will be able to have a zero balance in just 3 short years. As it stands now, with some of the cards having really high interest rates, I will be paying on them a lot longer than that, if I am unable to get this loan.

Closing Statement
Although my debt ratio is high, I have always paid my bills and paid them on time, and will continue to do so. I feel confident that I can reach my debt free goal with help through Prosper. Making 1 payment a month will be a lot less stressful than making several. I have painfully learned from my financial mistakes and I just want the chance to start fresh.
Borrower's Other Listings
111034 Pay It All Off D $10,000 @ 21% Mar 14, 2007 Withdrawn

 

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