Borrowing now and Lending later
Click Here to view this listing on Prosper
|Funded:||100%||Group:||BORROWERS - LARGEST GROUP|
|Loan Status:||Paid||Origination Date:||2007-05-22||EricsCC ROI:||14%|
|May 22, 2007||Current|
|Jul 12, 2009||Late|
|Jul 16, 2009||Current|
|Aug 06, 2009||Late|
|Aug 25, 2009||1 month late|
|Aug 27, 2009||Current|
|Sep 06, 2009||Late|
|Sep 24, 2009||1 month late|
|Oct 03, 2009||Current|
|Oct 08, 2009||Late|
|Dec 01, 2009||Current|
|Dec 07, 2009||Late|
|Dec 23, 2009||1 month late|
|Dec 31, 2009||Current|
|Jan 06, 2010||Late|
|Jan 23, 2010||1 month late|
|Feb 02, 2010||Current|
|Jun 08, 2010||Late|
|Jun 24, 2010||1 month late|
|Jul 04, 2010||Payoff in progress|
|Jul 11, 2010||Paid|
I have been employed full-time for 18 years. My salary increases 4% in mid-July with a COLA. Until recently, my husband and I had credit scores of 700+ and were proud of the fact that we did not have late payments on our records. I believe my high DTI and lowered credit score may be attributed in part to: 1) expenses for college educations for my son and me; 2) we took out an advance on a credit card to pay off our older son's high interest loan before his overseas deployment (I have access to his checking account while he is gone and use his funds to make that payment); 3) my husband works for a company that offers medical benefits but does not compensate for sick leave. He has always been healthy individual, but a "freak" accident caused him to take time off. This caused us to dip into our emergency funds, and led to two late mortgage payments, the first late payments we have had. I contacted our mortgage company immediately to let them know the payments would be late.
We have since re-organized our budget and cut back on unnecessary expenses such as canceling our cell phones, and we are rebuilding our emergency funds. I am requesting assistance from the Prosper community to help pay off our highest interest bearing debts in 3 years or less. The interest rates jumped recently, due to the late payments, I'm sure. In doing so, we hope to see our credit scores rise again, which will help during home refinancing next year.
We have regained our senses. At some point, I would like to participate as a Prosper lender to assist others in the same situation. We want to be free of debt (other than our mortgage) within 5 years. Thank for you allowing me to explain what we did to bring ourselves down and what we plan to do to boost ourselves back up!
The money I am loaned will be disbursed this way: $7,162 for Mastercard (23.65%); $2,358 for HSBC (22.65%). My current net income = $2,112. My younger son lives with us - pays no rent, but covers gas/electricity, cable, and Internet. My brother also lives with us and pays $600 rent. Additionally, we receive $800 from a trust established my late grandmother-in-law (ends in 2010). We have 401(k) plans ($40,000) but do not want to touch them. Monthly bills: phone - $38; sewer/trash/water - 69; food - 450; car insurance - 204 (home insurance paid from mortgage impound account); other credit cards/loans - 772;my share of mortgage - 1,300. This leaves me $679 to pay Prosper.
|Borrower's Other Listings|
|121129||pay off credit card debt and get back on road to saving||B||$20,000 @ 18%||Apr 09, 2007||Expired|
|130261||Borrower now, Lender later||B||$18,600 @ 20%||Apr 29, 2007||Expired|