Eric's Credit Community

Background

This loan is my second attempt ? so I increased the interest rate to the 19.26% Colorado Max (please bid it down), changed groups, raised my credit score, and provided more information below. I am a 760+ credit score - Prosper AA.  I am a professional financial consultant in my late-30s (I know how money works) and have been employed with the same firm for the last 10 years. I don?t like the idea of posting my photo ? so I posted one of Stonewall Jackson. He is more interesting and better looking than me anyway.

$15,000 Loan Request

I seek $15,000 to (1) consolidate credit card accounts and (2) reinvest in Prosper over time - to leverage my rate against an average 16% rate on AA-C rated loans.

Income / Expenses

Monthly salary is $9,200 plus incentive comp (still working to achieve Cornell?s alumni average of $150K). Monthly take home is ~$6,000 after taxes, retirement, insurance, medical, etc.

Monthly expenses:

Mortgage & taxes (5/1 ARM, 4.75% fixed): $1,691
HELOC (8.75% variable): $242
Food & supplies: $980
Credit card loan payments: $690 (5 cards, from 4.99% to 6.99%, all fixed)
Daycare (part time): $390
Car expenses (gas, maintenance): $125
Utilities (gas, electric, phone, water, cable, internet, garbage): $310
Other living expenses (clothes, home improvements, etc.): $125
Student Loan: $118 (3.75% fixed!!!)
Insurance (homeowners, life, disability, and auto): $210
Out of pocket medical (co-pays): $40

Total monthly expenses: $4,921

Monthly Cash Remaining: $1,079

Conclusion

There ~$1,000+ monthly income remaining to service this loan AND this excludes my wife?s part-time income and my incentive comp. We are stable, careful, conservative, responsible, and live within our means. We don?t own boats, motorcycles, SUVs, pool, big-screen TV, or other frivolous depreciating assets (i.e., ?toys?). My car is 9 years old, and my wife?s is 7 years old; both paid for and running great!