Help me consolidate & move forward!
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,000.00 | Status: | Withdrawn |
| Grade: | C | DTI: | 13% |
| Lender Rate: | 19% | Borrower: | laurenjane |
| Finished | State: | WA | |
| Funded: | 19% | Group: | High Risks that should not be |
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About me: I am a 37 year old, single mother of two fantastic daughters, ages 10 & 12. My ex husband and I share custody. I am a senior litigation paralegal at the home office of a national law firm. I have been with this firm for 1 year, 4 months, but have been in the legal field for 18 years, in positions of increasing salary and responsibility. My current firm has been voted in the Top 100 Best Places to Work by Fortune Magazine. In short, it's a great place to work, I am paid pretty well, and I plan to stay! What is this loan for? I have just completed 36 months of a Chapter 13 bankruptcy plan, paying off my plan completely, and will receive a discharge shortly. I have a few debts outside the bankruptcy that I am looking to consolidate. Some of these have rates above 20%. My 2003 Saturn is paid off (through the bankruptcy), but has over 100,000 miles. It is still running well, but I want to be able to put aside some money for potential repairs or a down payment on a new vehicle in the future. I am also increasing my contribution to my 401(k) as my employer now matches my contributions 100% up to 6%. I have a Prosper loan that was taken in April of 2007 for earnest money for my new home. I have made all payments on time, and the loan is current. Credit rating I have had credit difficulties in the past, getting in over my head after my divorce, and filed a Chapter 13 Bankruptcy in October 2004, but have made payments in full to the trustee. My credit report does not yet reflect the discharge, but that should post soon. I do not have any current delinquencies. I do have open and student loans and several small current credit lines. All have been paid on time with no lates. I recently moved after my landlord sold the home we were living in. I had planned to purchase a home, but had a dispute with the builder, and he wrongly retained my earnest money. I am working with the Attorney General Consumer Protection Division, as well as an attorney to contest this. However, we have found a great rental that is within walking distance of my girls' school, and has a lower monthly rent than I had anticipated with my mortgage. I am also scheduled for a raise this January, and feel absolutely confident in my ability to repay this Prosper loan! Income: My current salary is $67,600 per year, with an annual bonus (potential bonus averages ~$5,000) and overtime at $52 per hour. I do not get child support, since my ex and I share custody. Take home pay per month is about $4,500. Expenses: With this loan, I will be paying off medical/dental bills, and various other accounts, with monthly payments that, all told, come to $340. So my ongoing monthly expenses are as follows: Rent $1600 Utilities $150 Gas $150 Phone/internet/cable $135 Food $400 Health care(insurance) $150 Auto/Renters insurance $100 After-school child care $368 Student Loans $40 Pets $30 Misc clothing etc. $150 Entertainment $150 Savings $150 First Prosper Loan $138 Total monthly expenses: $3711 Paying off this loan: As you can see, I will have a cash cushion of about $800 per month, three times the cost of this second loan, plus have increased cash flow to build an emergency fund and increase my 401(k) contribution. Both of these will dramatically increase my financial peace of mind, knowing I can cover unexpected car repairs or other minor crises that inevitably come along! Thank you very much for taking the time to read my listing. I have made mistakes in the past, but am taking responsibility for them, making it right, and moving forward! I am excited for what the future has to offer! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 120715 | Need Earnest Money for new House! | D | $4,000 @ 18% | Apr 08, 2007 | Withdrawn |
| 123373 | Need Earnest Money for New Home! | D | $4,000 @ 15% | Apr 14, 2007 | Loan created |
| 243207 | Help me consolidate & move forward! | C | $4,000 @ 17% | Dec 03, 2007 | Loan created |
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