Eric's Credit Community

Purpose of loan:
I have re-listed the loan to following the advise the wise prosper Lenders and to allow more time becuase of the holiday this week.  The reason for the loan is I?m looking to eliminate our overall debt ? my husband and I would like to start a family this coming year and we want to be in a solid financial position when we do so. To get this loan would help tremendously with this new phase of our lives. We both are employed with the oldest and largest phone company in the world with secure jobs and stable employment histories. We also have no car payments ? both cars are owned free and clear, with low mileage and well maintained.

Credit History:
Currently my DTI is 26% , with the listing my DTI is 35% however I intended to payoff 2 credit cards with this loan reducing my DTI and my bank card utilization to less than half. The two cards balances total $20,953.70 I will be combining the prosper loan and my husbands end of year bonus check to pay the cards off.

Budget before the prosper loan:
Housing: $1416.86
Insurance: $138.90
Utilities: $174.86
Phone, cable, internet: $302.88
Food, Fun, and Gas: $800
Credit cards and Other loans: $1414.95
Frontier (Juniper Bank) @ 19.95% $262.49
Countrywide card @ 29.95 % $402
Total Monthly expenses: $4912.94
Total Monthly Net Income: $6200.00
Total Monthly Net less expenses $1287.06

With the new loan payment and after paying off the balance of the two cards we will be saving an additions $135.65 per month bring our Total Monthly Net less expenses: $1422.71. We intend to use this to accelerate paying off the rest of our debt so we can be debt free in less than 3 years.