Chiropractor Consolidates Debt "B" Credit! Low DTI! No DQ's!
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Cancelled |
| Grade: | B | DTI: | 29% |
| Lender Rate: | 18% | Borrower: | Chirohelper |
| Finished | State: | NH | |
| Funded: | 100% | Group: | Future Innovations |
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Hello & thank you for considering my loan request. Currently, I am a Chiropractor with my own practice which I opened in June 2002. I work in conjunction with an Integrative Group of healthcare providers that include a medical practice, acupuncture, nutrition, physical therapy, massage, and psychotherapy. Our healthcare group, called Whole Life Health Care, is located in Newington, New Hampshire, and has recently acquired a new building. We just moved in the last week in November, and are currently adjusting to our new home. You can check us out at our website at www.mywholelifehealthcare.com. We are in the process of updating the site at this time. Previous to starting my practice, I worked as an associate doctor for another practice for 3 1/2 years, and prior to that, I associated with another practice for 1 ½ years. I attended New York Chiropractic College in Seneca Falls, NY where I received my doctorate in Chiropractic in 1996. My hobbies include playing music, skiing, and boating in the summer. One of my prouder personal achievements was earning a Black Belt in Tae Kwon Do. Most of my time in the past five years has been spent working on building a successful chiropractic practice, and balancing that with my personal life. The reason I need this loan is due to the inexperience of previous bookkeeping staff and the loss of a good billing person. I have acquired a debt with the IRS and owe back rent to the former property owners. I have since hired a great billing person with 14 years experience who has my bookkeeping back on track. The practice is doing very well, however, I need to pay over $20,000 in back rent, as well as pay down the IRS debt. My cash flow is good with rapid expansion of the practice. My accounts receivables are well over $100,000 right now, and my billing person is doing a great job of collecting due receivables. That, combined with the new building and a planned marketing of the new building and group, the practice will continue to grow with increased referrals from the other providers. If I am fortunate to be funded through Prosper, the money will be used to completely pay off the back rent to former property owner and make a down payment to the IRS for the past due taxes. My goal in obtaining a loan from Prosper is to consolidate these two debts into one monthly payment. The four recent inquires on my credit report were for other consolidation options I looked into before I discovered Prosper. Monthly Net Income: I pay myself a monthly salary of $4,730/mo. net from my practice to cover my personal expenses. Monthly Personal Expenses: $3,913.00 Housing: $1,600 Insurance: $ 77 Car expenses: $ 661 Utilities: $ 200 Phone, cable, internet: $ 175 Food, entertainment: $ 600 Credit cards & other loans: $ 500 Other expenses: $ 100 I am an excellent candidate for this loan with very good ?B? credit and no delinquencies. I have always been very responsible and reliable about paying all my debts. In 2005, my practice grossed $315,000, but in 2006 revenue was reduced to $275,000 due to the problems with the bookkeeping staff. Now with the new growth of my business and the hiring of a competent, more experienced staff, business has increased and my financial situation has improved. I have no problem currently meeting all financial obligations. The Prosper loan will be one of my first priorities each month with payments automatically withdrawn. As with all my past and present financial responsibilities, I promise to make all my payments on time. Defaulting on this loan is not an option for me. Thank you for considering my listing, I appreciate your support. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 241422 | Need to pay debt to move forward | B | $25,000 @ 18% | Dec 01, 2007 | Expired |
| 260431 | Chiropractor Consolidates Debt "B" Credit! Low DTI! No DQ's! | B | $25,000 @ 17% | Jan 05, 2008 | Loan created |
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