Eric's Credit Community

About Me: 
    I am a Supervisor with Bimbo Bakeries, USA. We distribute Oroweat Bread, Thomas Bagels & Muffins, Entenmanns Doughnuts & Cakes, and Boboli Pizza to various retail stores for retail purchase. I have been in the Retail Industry for over twenty years. I have been married for 11 years and have two children, ages 3 and 4. I believe that a strong Work Ethic and a qualitative Family Life are important goals for success. I value these both, very much.

Explanation of Credit: 
    My wife and I are in our fourth home, which we own. We both have been in the retail food industry for a combined 40 plus years. We have owned and operated several small businesses, as well. On one such venture, we were involved with a ?not so honest and shady? business partner. It was recommended to us that a BK would be the best option to dissolve our relationship with the partner. This is the reason for the five public records. The BK was discharged in 2000 and the liens have been paid. Otherwise, our credit is flawless.

Purpose of loan: 
    I will use the money to consolidate and pay off my CC?s and pay an IRS Tax Bill from a recent audit. The combined monthly CC payments and the monthly payment on the IRS Tax Bill should be approximately the same amount as the Prosper Loan. However, if the IRS Tax Bill is paid off sooner, penalties will not accrue, and the balance due will be less, which will be cheaper for me in the long run. I can then use this money along with $400 expendable cash from household income to pay the Prosper Loan off sooner than expected.

My financial situation: 
    My wife and I have a combined monthly Net Income of $8,291. We have a monthly expense total of $7,889. The Prosper entry form does not allow you to calculate your spouses income into the debt to income ratio.

My monthly expenses:

• Capital One Credit Cards: $692
• Providian Credit Card: $160
• Victoria Secret Credit Card: $20
• Toyota Financial Services (Auto Loan): $386
• Chase Manhattan Bank (1st Mortgage): $1647
• EMC (2nd Mortgage): $733
• AAA (Auto Insurance): $140
• AAA (Homeowners Insurance): $97
• AT & T (Home Phone): $41
• Home Maintenance: $150
• Cingular Wireless (Cell Phone): $67
• City Utilities (Water, Sewer, Garbage): $75
• Comcast (Internet): $58
• DirecTV (Satellite TV): $110
• PG & E (Natural Gas): $150
• SMUD (Electricity): $75
• Gasoline Charge Cards (Chevron, Shell, Union 76): $320
• Doctor: $255
• Property Taxes: $350
• Preschool: $575
• Magazines, newspapers: $30
• Food, Clothing: $800
• Entertainment: $150
• Church Offertory: $150
• Vehicle Maintenance: $100
• New York Life (Life Insurance): $58
• Retirement Savings, IRA, Roth IRA: $500

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Total monthly net income: $8,291
Total monthly expenses: $7889

Please feel free to contact me with any questions that you have.
Thank you for your time.