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Listing Information
Amount: $25,000.00 Status: Loan created
Grade: C DTI: 29%
Lender Rate: 25% Borrower: bocajr9
Time Left: Finished State: CA
Funded: 100% Group: (No Group)
Loan Information
Loan Status: Default Origination Date: 2007-07-02 EricsCC ROI: -57%
Status History
Jun 30, 2007 Current
Nov 23, 2007 Late
Dec 05, 2007 1 month late
Jan 03, 2008 2 months late
Feb 04, 2008 3 months late
Mar 03, 2008 4+ months late
Oct 03, 2008 Default
Purpose of loan: The purpose of the loan is to pay off most of my debt. Looking to invest in a deli shop and would like to have my credit score increase just in case I need a loan.

My financial situation: I am a great candidate because I always pay off my debt on time. I'm a serious business man and take my responsibility very seriously.
(explain why you are a good candidate for paying back this loan)

Monthly net income: $ My monthly income is from 115k to 130k 

Monthly expenses: $
  Housing: $
  Insurance: $ 150.00
  Car expenses: $       
  Utilities: $ 150.00     
  Phone, cable, internet: $ 50.00     
  Food, entertainment: $ 200.00     
  Clothing, household expenses $ 0     
  Credit cards and other loans: $
  Other expenses: $ 0
Discussion For This Listing
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Sun, January 13, 2008
I wonder if they are teaching their kid it's ok to steal $25,000?
Sat, January 26, 2008
Nearly every one of my defaults was for $25,000. I have lowered my search to $15,000 to see if it helps. I hate to be that way, as we borrowed $25,000 and are paying it back faithfully. But I am thinking that maybe those who borrow the max actually are deeper in trouble than $25,000 can bail out? It is just all they could get. I am baffled and disappointed.

Peacock
Sat, February 2, 2008
I agree, I limit my searches to 12,000 and under. less risky.

First if someone asks for $25,000 that usually means they would ask for more but can't. And I have to wonder how bad their financial situation is that they would need so much money.

Second, their monthly payments become huge. If they miss a payment for $1000 it becomes very hard to catch up. But if the loan is small, the borrower should be able to make up a missed payment of $100.

Looking at this particular loan, i noticed the occupation listed is realtor. Could be the the current market effected their income.
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