RELIST W/LOWER AMOUNT - HELP SMART YOUNG ENTREPRENEUR
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 22% |
| Lender Rate: | 13% | Borrower: | -------_4_life |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-04-16 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Apr 14, 2007 | Current |
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Dear All Potential Prosper Lenders, This is relisting with a lower amount. This is also my last relist. I thank you for your time and bids. God Bless! The reason I am requesting for this loan is because I would like to payoff the remaining balances on my credit cards that I have in Canada that I used when I was going to school there, and two credit cards that I have in the US that have minor balances. I am tired of paying a monthly payment to each company individually. At this rate, it may take much more than three years to payoff all my debts. I would love to just have one payment every month for all my debts, and which would be paid off in three years or less. THIS WOULD JUST BE A LOAD OFF MY SHOULDERS. I really have no payments to make every month. I have excellent credit here and in Canada as well. I have never had a late payment in my life. I purchased a famous franchised shipping and packaging store last June. I currently pay myself a salary because I would like to payoff my business as quickly as possible. We have made significant strides in increasing the revenues of the store over the last 9 months. My franchisees were so impressed with our progress, that they offered me a chance to purchase a second center within 6 months of taking over (we refused the offer). My wife works for the largest cosmetic?s company in the world and is a senior member of their R&D department. Our combined income let?s us live very comfortably. We are very money conscious. MONTHLY P&L: Monthly Net Income: $2200 Mortgage Payment: $0 (Living with my in-laws and would not be moving out anytime soon. This is normal within our culture) Car Payment: $0 (Paid off 2001 fully loaded Acura TL) Car Insurance Payment: $0 ($112 monthly, but it this comes out from my wife?s bank account) Gas for Car: $60 (Live only 2 miles from work) Utilities/Groceries/Internet/Cable/Phone: $0 (In-laws pay for all home expenses; I help shovel the snow in the winter and mow the lawn in the summer. When I have time I might wash their cars. It?s the least I can do for the money my wife and me are saving while living there) Cell Phone: $40 (I am on a Sprint Employee Plan that has a 25% discount) Canadian Credit Card #1: $125 (Balance is $3200 at 18.5%) (Will be paid off with loan) Canadian Credit Card #2: $125 (Balance is $1368 at 11.5%) (Will be paid off with loan) Canadian Credit Card #3: $125 (Balance is $4418 at 11.5%) (Will be paid off with loan) Canadian Student Loan: $125 (Balance is $5447 at 8.5%) (This I will continue to pay monthly, the interest rate is quite low) American Express Platinum: $100 (Balance is $900 at 18.24%) (Will be paid off with loan)(This card has no limit) Citi Premier Pass Platinum: $100 (Total balance is $2000 at 18.24%) (Will be paid off with loan) Food and Entertainment: $250 Total Cash Flow = $1150 ($1000 goes into a high interest rate savings account at the end of the month.) As you can see that a majority of my expenses is credit card and student loan debt. And with the $700 payments I am making, I can easily make towards my Prosper Loan and still have about $1150 leftover. It would make more sense to make that payment to one loan for three years rather than 4-6 different companies which would take longer than three years to pay off. You might also notice that on my credit score, my revolving credit balances are not matching up to the amount on the monthly expense breakdown. That is because I have an American Express Blue credit card with a $15,000 limit for my business. The revolving balance over $2900 is for the AMEX Blue Card for my business which is paid off every month in full. The DTI should be 6%, but it is taking this loan into its calculations. Happy Bidding! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 109622 | Canadian Debt Consolidation | B | $17,500 @ 15% | Mar 11, 2007 | Withdrawn |
| 112877 | CANADIAN WANTS TO BECOME DEBT FREE AND STRESS FREE | B | $17,500 @ 15% | Mar 19, 2007 | Expired |
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