Relist with a Higher % Rate!
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,000.00 | Status: | Loan created |
| Grade: | E | DTI: | 43% |
| Lender Rate: | 19% | Borrower: | LendAHand24 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Borrowers 2 Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-11 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Apr 10, 2007 | Current |
| Sep 05, 2008 | Payoff in progress |
| Sep 11, 2008 | Paid |
|
Hello and thank you for taking the time to look at our listing. My name is Erin. I am currently working as a Newspaper Carrier so that I can be a Stay at Home mom during the day with our 8 month old daughter. My husband and I are looking to consolidate our debt so we can wipe our slate clean and be able to buy a house within the next year. Before my job as a Newspaper Carrier I was a Preschool Teacher. I have an AS in Early Childhood Education. When I became pregnant I decided that I wanted to stay home and raise our daughter. My husband Marty has been working for the same job for the past year and a half as a Sales Trainer. His income was not listed with Prosper so that?s why the DTI may seem high. Also, when we found out that I was pregnant neither he or I had health insurance so we were forced to use our credit cards to start paying for Prenatal Care. This caused my credit score to drop drastically. The one delinquency is now taken care of, but said it would take at least 30 days for it to show on any report. What we will do with the loan: This listing is a relist. We previously wanted to consolidate all of our debt which included the Hospital Bills into one payment, but after great advice from the Prosper nation we decided to just go for the credit cards with the highest interest rates. This credit card debt is in my husband?s name, so it will not show up on my debt in the reports. I have paid off all of my credit card debt. I am tired of banks making all of the money off our payments and would prefer you to make the money! This listing was listed with a higher interest rate of 25% instead of 24% with our old listing. We hope that it will be bid down, but are more than fine with having it stay at 25%. To be honest, it probably won't take us all 3 years to pay off this loan. This is what we owe... $2281.25 - Wells Fargo CC @ 32.99% $3686.25 - United CC @ 29.99% (Which was negotiated down to 13% thanks to Prosper advice) $1584.89 - Washington Mutual CC @ 28.99% $4700 - Hospital Bills We will use the $4,000 to pay off the Wells Fargo CC and the Washington Mutual CC. We will then take care of the United CC and the Hospital Bills with the money left over from our monthly income. Our Monthly Expenses: I make at least $1600/month and sometimes more because of bonuses. My husband makes at least $2400/month and sometimes more because of bonuses. This is all net. Total Monthly Income - $4000 Rent: $0 (We live with my mom) Utilities: $100 Car: $450 Car Insurance: $115 Cell Phone: $95 Gas: $300 (I drive 40 miles a day) Food: $300 United Credit Card: $1000 Hospital Bills: $1000 Total: $3360 Total Leftover Each Month = $640 In closing I would like to say thanks again for taking the time to look at our listing. As you can see we have $640 left over each month so this will definitely be enough to cover the $160 monthly payment on this Prosper Loan. Keep in mind that we are paying $1,000 on our other credit card and hospital bills each month. In a few months those will be erased and then the money that we have left over we will save so that we can purchase a house sometime next year. Even though we may have a low credit score, we hope that you will take a leap of good faith to help a young couple do right for their new family. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 112173 | Consolidate and Start Fresh | E | $13,000 @ 24% | Mar 17, 2007 | Expired |
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