Eric's Credit Community

Thank you for considering my loan. I am an attorney and practice employment and worker?s compensation law. Before working for my firm I had a private practice. I worked full-time while I attended law school and was a Human Resource professional for 10 years. I graduated from law school in May of 2004 and passed the bar in the fall of 2004. My wife works from home and is the Director of Marketing for a non-profit organization, and sells jewelry for a Direct Sales company. We have been married for 17 years. We have 5 children whose ages are 13,11,9, and twins-19 months old. Our children attend a private school. We would like to use the loan for:

My last request did not receive complete funding. However, due to receiving a settlement for a client I do not need as much funding as I initially thought. Due to this settlement I will be paying off all of the delinquencies listed. We have also received a grant for our adoption expenses. This leaves us with just a few old credit cards that we would like to pay off. It also decreases our DTI significantly.

Credit Card: $5458.00 ? old credit cards we would like to pay off. We do not have any credit cards now, and pay cash for everything.

Car Payment - $542.00 ? this will allow us to be one month ahead on our payments and pay off our loan more quickly (we have a very high interest rate on our car loan)

This Prosper loan will have a lower interest rates than the credit cards we have, and we will be able to pay our loan off more quickly than we would have the individual cards. There are 3 cards we have to pay off.

Our Budget:

Mortgage: $2400.00 ? this is for 2 homes ? one is presently for sale. Mortgage will be $1000 once house is sold.
Car: $ 656.00
All Insurance: $ 200.00
Tuition: $ 968.00 - will decrease to $600 for 2007/2008
Utilities: $1000.00- includes both homes
Groceries: $1000.00 ?
Charitable Giving: $600.00 ? includes our church and a non-profit organization

Total: $5456.00

Income: All amounts are net.
Mine:
$4600 ? base salary
$1200 ? travel allowance
_____
$5800

Wife:
$ 700 ? non profit job
$1500 ? sales ? this is the amount made for the last 4 months
_____

$2200

After expenses: $2544.00 left. We became delinquent with payments when I was laid off from my job in May of 2005. I began my practice when this happened. We began to fall behind. I was offered a job with my present firm and took it in March of 2006. Since that time, we have had some family emergencies which necessitated relocating my family to be closer to my parents so my wife could care for them. We are selling one home and once that is sold, we will have an additional $1380.00 a month. This loan will allow us to be current with all bills and stay that way.

We have long term financial goals for the future that we are happy to share if you would like that information.