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Credit History
- Lived off credit cards in college, tarnishing my credit.
- Made some late payments, but always got caught back up.
- No bankruptcy, charge offs, defaults, or any such thing.
- Realized I was in over my head, closed the credit card accounts, and have
been repaying the balances for the last few years.
- Last month made my final payment, clearing me of all credit card debt.
- I do not have a horrible credit history, but bad enough to teach me a lesson
about credit....it will never again be taken for granted, and never again be
late.
Credit Present
- I have a great job (in fact just got a raise) from which I bring home (net)
almost $2600 per month.
- My current bills are under $1200 per month.
- I rent an apartment (rent included in the $1200 per
month).
- My car is paid off and reliable. (perfect payment history when I did have a
loan on it)
- My only outstanding debt is a student loan (payment included in the $1200 per
month). It is current and always paid on time.
- My credit is being negatively impacted due to not having enough CURRENT
credit (because I closed all those cards back in college).
Credit Future
- I will use the funds from this loan to procure a secured credit card which
will add points to my credit score.
- The main reason for this is that Prosper only reports to Experian, but a
secured credit card will build good history at all three.
- This secured card will not carry a balance (will be paid off every month
since it's only purpose is to build credit.
- The late credit card payments from college will fall off my credit report
next year.
- With the good payment history on this secured card as well as this Prosper
loan, I will build a high enough score by the end of the 36 months that I will
be able to procure a mortgage at a reasonable rate.
- I WILL build impeccable credit and maintain it the rest of my life.
- I WILL be able to buy a house in three years.
Hopefully this has convinced you of the low-risk nature of this loan. If not,
feel free to message me any questions you may have. |
