13 year debt to my Wife -Owe her a promised dream honeymoon
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,600.00 | Status: | Loan created |
| Grade: | D | DTI: | 16% |
| Lender Rate: | 18% | Borrower: | smithe1 |
| Finished | State: | IL | |
| Funded: | 100% | Group: | Government Employees |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2007-07-03 | EricsCC ROI: | -32% |
| Status History | |
|---|---|
| Jul 03, 2007 | Current |
| Aug 19, 2008 | Late |
| Aug 30, 2008 | Current |
| Sep 19, 2008 | Late |
| Oct 04, 2008 | 1 month late |
| Nov 04, 2008 | 2 months late |
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Purpose of the loan: Need help funding the honeymoon that we could not afford when we first married & pay off a few credit accounts to increase monthly cash flow. In Fall 06, we made a personal commitment to make this trip happen in July 07. We planned to use funds from our Thrift Savings (sort of like a 401K) to cover it. Already made the non-refundable deposit on a 1 week all-inclusive to Nassau, Bahamas. Since that time higher priority commitments took precedent. Long story short, instead of putting funds on the trip, we took approx $20K out to cover down payment & closing costs on our home purchase, thinking (incorrectly) that we would be able to pull the instant equity back out. Explaination of any bad credit: My wife and I separated (with the intent of divorcing) early in our marriage. We barely held our heads above water living together and it was impossible trying to maintain 2 separate households. After reconciling, we committed to making Education our number one priority for our future. I worked full time and took classes towards my degree. She attended classes full time. The end result was a few DQs on the credit reports because of a few accounts that we consciously chose to let slip. Since that time, I've advanced significantly from my starting $23K salary to my current annual salary of $61.7K. My wife is currently working full time for a local Dentist as a Hygienist with a gross of $27 per hour. The days of our past financial indiscretions are over. We will be able to prove ourselves worthy to the traditional institutions one day. Monthly net household income: $2.8K (my salary alone). My spouse brings home an additional $3K in her own right . Additional income (if applicable): approx $400 per month from my Air Guard "weekend warrior" drill pay Total amount of all expenses: $2,500 (we split the monthly expenses between us) Recurring Monthly payment (credit cards & other loans): $650 Recurring monthly bills (mortgage & escrow, cable, phone, electric, etc.): $1850 Repayment Plan: Total Net monthly Income: $3.2K Less my part of monthly expenses: -$2.5K Less auto draft to Thrift Savings account: -$350 Plus freed up monthly with debt payoff $134 Sub total: -$2.7K Remaining monthly bal to pay on prosper loan: $500 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 260140 | ?HR? grade in error ? Seeking Funding for a Man Safe Haven | HR | $18,500 @ 24% | Jan 04, 2008 | Withdrawn |
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