p2p lending at lending club
Pay off School Loan..New Baby..Pay You Instead of the Bank

Click Here to view this listing on Prosper
Listing Information
Amount: $9,999.00 Status: Loan created
Grade: C DTI: 29%
Lender Rate: 15% Borrower: LifeChangersInvestments
Time Left: Finished State: MD
Funded: 100% Group: Rosebud Opportunities
Loan Information
Loan Status: 4+ months late Origination Date: 2007-09-11 EricsCC ROI: -46%
Status History
Sep 11, 2007 Current
Nov 27, 2007 Late
Dec 13, 2007 1 month late
Jan 12, 2008 2 months late
Feb 12, 2008 3 months late
Mar 12, 2008 4+ months late

Purpose of loan:
Basically I need to pay off a school loan, credit cards, and a  down payment for a car for me and my daugher Sydney. I want to pay all my debts off and pay you guys the intrest rather than the bank. Don't they have enough money? :)
My financial situation:
I work for the Police Department, and get raises every 6 months. I previously worked for the Sheriff's office for three years and I just came to the Police Department because they pay more money. My financial situation is great; I just need to knock out this student loan, be debt free, and get a vehicle. 
I am a honest person and pay all my bills on time.  Plus, I do background checks at the Police Department so I know how important it is to get to know somebody, and with that said, If you have any questions please feel free to ask!
Monthly net income: $
3,400

Monthly expenses: $
Housing: $ 815.00
Insurance: $ 80.00
Car expenses: $ I NEED ONE
Utilities: $ 100.00
Phone, cable, internet: $ 150.00
Food, entertainment: $ 300.00
Clothing, household expenses $ 100.00
Credit cards and other loans: $ 3,000 intrest rate 24.99%
Other expenses: $ 1,200 (Student loan. Pay $50 Month, Owe $1,200)

 

Borrower's Other Listings
187102 SINGLE MOTHER IN NEED OF A CAR AND TO PAY OFF BILLS C $8,000 @ 10% Aug 14, 2007 Expired
192291 I NEED A CAR/PAY OFF BILLS C $13,000 @ 22% Aug 24, 2007 Withdrawn

 

Discussion For This Listing
Tue, December 11, 2007
This borrower made one payment. And is now one month late on their second payment. This one was a surprise becuase the borrower has good credit (or at least they did). Also from her description she has a steady job.

The other thing I don't understand is how she would not have any money in her account to make a payment, when she just had 10K posted to her account one month ago. I guess the borrow spent the entire loan in one month and now can not make the 2nd months payment. Too bad.

I wonder if i can/should make an inquiry with the group leader.
Tue, December 18, 2007
Erics CC ROI on this loan is currently -71.01%. Considering this person has made one payment and is now late. That would really make the ROI as -99%.
Wed, January 16, 2008
I contacted the group leader and here was his response:
"I have tried to contact this borrower and have had no success on multiple occassions."
Well that sure is reassuring.
To bad this young single mother has decided to ruin her credit.
Post A Comment
You must be logged in to post comments on listings. Not yet a member? register here