Eric's Credit Community

Who I am:
I am a 33 year old mother of 3 children currently going through a divorce. My husband left abruptly and I am trying to make all of my payments on time, thus the Payday Loans. I hold a Bachelor of Arts Degree and I am currently working on my Master of Science in Real Estate degree at Roosevelt University. I am employed full time, averaging 45-50 hours a week.

Purpose of the loan:
To pay off high interest payday loans. I am currently paying $1,166 a month for payday loans. This payment is only for the interest. I will pay off all the of the payday loans and have an extra $900 per month since my Prosper loans payment will be $194.

Current credit rating:
I filed for bankruptcy in 2005 after my father lost his job and I had to make the $2,500 mortgage payment alone. We have since sold the property and I am currently living with my parents in a rented house and my portion of the rent is $400 a month. I have tried to reestablish my credit through credit cards which were supposed to be paid off within the next six months as planned by myself and my husband but the situation has obviously changed. With my husband leaving my monthly budget is now $2,400 short. All of my payments are current as I am trying to improve my credit rating. I do not agree with my current credit rating of 580 by Experian; my credit score was 629 when I purchased my vehicle 6 months ago.

Debt to Income:
The divorce is not going to be contested by either party. I will be receiving child support of at least $400 a month plus an agreed upon amount to pay the debts. Our attorney estimates the divorce to be finalized within the next two months.

Why you can be assured I will pay you back:
I have been desperately trying to improve my credit score. I hope to purchase a home within the next 2 years and consolidating my debt will help me accomplish this.

My Current Budget:
Payday Loans 4@ $ 4,400          payment of $1,166 per mo. This will be paid off
Credit Cards 15@ $10,600          payment of $ 575 per mo.             Car&Ins: $380         Rent: $400
Personal Loan 1 @ $ 2,100         payment of $ 120 per mo.             Groceries: $300
Prosper Loan Payment: $194
Total Debt: $17,100     Payments: $2,941     Net Income: $3,214     Cash Left: $273
After Prosper Loan:     Payments: $1,969     Net Income: $3,214     Cash Left: $1,245 AFTER LOAN PAYMENT

Thank you for considering my loan request. I have a more detailed spreadsheet of my debts which will not fit here but I can email it to a prospective lender at your request. GOD BLESS!!