Pay Day Loans Ruining My Day
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | HR | DTI: | 10% |
| Lender Rate: | 23% | Borrower: | nicnmin01 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Have Money - Will Bid |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Late | Origination Date: | 2007-05-08 | EricsCC ROI: | 17% |
| Status History | |
|---|---|
| May 05, 2007 | Current |
| Nov 23, 2008 | Late |
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Hello and thank you for viewing my listing. My name is Nick, Im 29 years old, married with 1 son and another child on the way. I live in central Illinois and work at a fertilizer plant where I make fertilizer and weed killer for lawns and gardens. We just bought our first house April 8th of last year. I enjoy doing yard work, watching sports and fishing with my family. My credit started getting bad when my wife was hurt in an accident. I had to miss work to be with her and I got behind so I got a couple of payday loans with high interest rates. I also got a credit card thinking it would help me out when I was in a bind. Now I am trying to refinance my house and they told me I have to pay these items off so my credit rating will go back up. When these are paid off my house payment will go down to about 450.00 a month after I refinance. After everything is said and done I can save almost 600.00 a month when all loans and bad credit is paid off. Unfortunately, since I got into Pay Day Loans, I now need help to get out of them. I would use the Prosper Loan to pay off the following Pay Day Loans and Credit Cards. 450- Sun Loan 900 - Tower Loans 3400- Castle Credit 250 - First Premier Bank Card. ------- $5000- Total amount of Debt to pay off I work at Lebanon Seaboard. We make fertilizer and weed killers called Preen for lawns, gardens and golf courses. I've been at my job for 5 ½ years. I like my job but it can get pretty dirty at times. I make 16.35 an hour and get $ .47 raises every December 16th. My current monthly net income is $1844 Here's my monthly budget with the prosper loan in place: Mortgage/rent: $674.00 Insurance: $ 40.00 Car expenses: $ 80.00 Utilities: $ 200.00 Phone, cable, internet: $ 110.00 Food, entertainment: $ 75.00 Clothing, household expenses $ 50.00 Credit cards and other loan payments: $ 262.00 Other expenses: $ 0 --------------------------------------- Total monthly expenses: $1491 As you can see, I have over $353 left over to be used, not only for my Prosper Payment, but for savings and emergencies so that I never get into this situation again. I can begin to live a normal life free from the stress caused by Pay Day Loans. I have learned my lesson. I promise that my payments to Prosper will be my top priority each month. In fact, I am going to have Prosper automatically withdraw my payments each month so that everyone, including myself, knows that my payment will be made on time, every time. I'm not about to make a mistake with this opportunity to start rebuilding my credit. Thank you again for viewing my listing, and God bless. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 126719 | paying off all debt to refinance house | HR | $5,000 @ 17% | Apr 21, 2007 | Withdrawn |
| 127770 | "starting over fresh" | HR | $5,000 @ 27% | Apr 23, 2007 | Withdrawn |
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