Alaska fisherman wanting to upgrade gear to make more money

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Listing Information
Amount: $6,000.00 Status: Loan created
Grade: C DTI: 7%
Lender Rate: 15% Borrower: medicinesong
Time Left: Finished State: AK
Funded: 100% Group: (No Group)
Loan Information
Loan Status: 4+ months late Origination Date: 2007-09-18 EricsCC ROI: -65%
Status History
Sep 18, 2007 Current
Mar 04, 2008 Late
Mar 19, 2008 1 month late
Apr 19, 2008 2 months late
May 24, 2008 3 months late
Jun 19, 2008 4+ months late
Purpose of loan:
(explain what you will be using this loan for) upgrading gear on the boat to enter new fishery(salmon seine area 2) to make more income.

My financial situation:
(explain why you are a good candidate for paying back this loan)I have very little debt,and make good money.
Monthly net income: $ 6500

Monthly expenses: $
  Housing: $ 550
  Insurance: $ 252
  Car expenses: $ 50
  Utilities: $ 125
  Phone, cable, internet: $ 25
  Food, entertainment: $ 128.5
  Clothing, household expenses $ 25
  Credit cards and other loans: $ 130
  Other expenses: $ 550
Borrower's Other Listings
190627 fisherman wanting to upgrade gear to make more money C $25,000 @ 15% Aug 21, 2007 Withdrawn
191111 fisherman wanting to upgrade gear to make more money C $25,000 @ 15% Aug 22, 2007 Expired
194544 Alaska fisherman wanting to upgrade gear to make more money C $20,000 @ 15% Aug 29, 2007 Expired

 

Discussion For This Listing
Fri, May 2, 2008
You mean to tell me that the collection agency is actually doing something?
If this payment actually hits I'll be amazed.
Tue, May 13, 2008
I figured that would fall through.

But now we have a community payment?!? Thank you whitt49
Tue, June 10, 2008
I was going to bid on this. I think at the time, alot of my business loans started falling behind. This is why I stop funding business loans.
Mon, June 30, 2008
I've since stayed away from 25K loans, actually anything >15K. The monthly payment is too high even for well off folks.

If it were a longer term it may be more manageable. That's almost a house payment.
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