Eric's Credit Community

ABOUT  ME:

I am 39 years old and single.  Currently, I am writing my doctoral dissertation in Biomedical Engineering AT The University of Iowa and expect to finish by December, 2007.  I will obtain an adequately-paying postdoctoral position after that.  Although I was born disabled, I have become completely independent and on my own.  Unfortunately, I do not have family who can help me financially I have always been responsible with my finances but over the past three years, my credit scores slipped to 630 because my graduate education was not fully funded and I had to pay tuition with credit from Bank of America.  I have no delinquencies.

I'm asking for a chance to prove myself and to get my credit scores back up to where they should be. If you bid on my listing I promise that I will make my payments on time.

WHAT I WILL DO WITH THE MONEY LOANED TO ME:

$13,000 will pay off Bank of America.

HERE ARE MY MONTHLY FINANCIAL DETAILS:

Income Sources per month:

The : $1500  (wages)
Social Security (SSI):     $  600  (disability income)
HUD Section 8:              $  400  (rental assistance which goes directly to my landlord.Net income after payroll deductions from all sources: $2500

Mortgage/Rent: $450
Phone: $20
Gas: $35
Electricity & Water: $35
Car Loan and Operating Expenses: $0
Food: $300
Insurance: $0
Cable/Internet: $20
Clothing, recreation, etc. $300
Credit cards and loans that won't be paid off with my Prosper loan: $100
Other  (Care expenses): $400

Total Monthly Expenses: $1660

I will have $840 left to make the payments on my Prosper loan.

PLAN FOR PAYMENT:

My payment will come from my wages. For a backup plan, I would use my SSI money as the loan payment.  Once I make Postdoc, my income will increase substantially.  It will be up around $3500/month, per NIH Guidelines.

CLOSING REMARKS TO LENDERS: As you can see, I have worked hard to get to where I am in life.  If I can get this loan funded, the way to financial freedom will be open for me.