Eric's Credit Community

Purpose of loan:
This loan will payoff a bank loan (265/month), 2 credits cards (110/month), and all delinquent accounts (3,683). By paying off this account I will decrease my cash outflow and be able to start saving for the future.

My financial situation:
I have delinquent accounts, but have been able to pay all but two. I was unable to continue minimum payments when they went up about 10%. I accumulated most of the credit card debt by paying for inventory and services for a former employer with the agreement I would be paid back. Two years and no payments have been made by him. I was trying to get through it by myself, so I got a second job and a small bank loan. I was able to pay off or pay down most of the credit card debt, but would like to pay off all the delinquent accounts, credit cards, and bank loan. Before this situation, I had excellent credit and someday would like to return to that status. I have since paying everything with cash. Even without the part time job I am fully capable of paying back this loan and still have some left over for savings. The payment would be less then what I am now paying for the bank loan. My goal is to be debt free before 30, with this loan that becomes a possibility.

Monthly net income: $ 2400 ($1900 Full-Time, $500 Part-Time)

Monthly expenses: $ 1939
  Housing: $ 413
  Insurance: $ 320 (car $60 and health $260)
  Car expenses: $ 400.00 (Car payment $315, gas and maintenance $85)
  Utilities: $ 26.00
  Phone, cable, internet: $ 70.00
  Food, entertainment: $ 100.00
  Clothing, household expenses $ 25.00
  Credit cards and other loans: $ 585.00 (Bank 265, Credit Cards 210, Student 110)
  Other expenses:

Net Income $461.00

After Prosper Loan, will have paid delinquent account, bank loan, and two credit cards

Monthly net income: $ 2400 ($1900 Full-Time, $500 Part-Time)

Monthly expenses: $ 1790
  Housing: $ 413
  Insurance: $ 320 (car and health)
  Car expenses: $ 400.00 (Car payment $315, gas and maintenance $85)
  Utilities: $ 26.00
  Phone, cable, internet: $ 70.00
  Food, entertainment: $ 100.00
  Clothing, household expenses $ 25.00
  Credit cards and other loans: $ 210.00 (Credit Card 100, Student 110)

   Prosper Loan $226.00
  Other expenses:

Net Income: $610.00