Applying for a 2nd Prosper loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,000.00 | Status: | Loan created |
| Grade: | HR | DTI: | 11% |
| Lender Rate: | 24% | Borrower: | vwfoxtrot |
| Finished | State: | OR | |
| Funded: | 100% | Group: | BuildingTree |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Late | Origination Date: | 2008-01-14 | EricsCC ROI: | 19% |
| Status History | |
|---|---|
| Jan 12, 2008 | Current |
| Dec 29, 2008 | Late |
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Purpose of loan: I'd like to pay off current high interest credit cards and then rid myself of all of the higher ones as they seem to have dropped my rating from a "C" to "HR" just by applying and now possessing them. This has come as a shock to me as I remain current on all debts but still fell in my credit rating drastically in only nine months. I'm willing to pay the high interest rate to Prosper lenders now required of me to get my credit rating back to where it recently was and eventually even better. I want to keep only one card from my bank. This loan will allow that, while I concentrate on using what limited capital I now have for my business. My financial situation: My current work and debt to income allow my budget an additional small loan with no complications in repayment. I own and run a landscape business which Prosper helped me with last year. I haven't missed a payment to Prosper or any other bill in several years. I live with my elderly father, whose home is paid for, and happily take care of him when not working. This allows some financial freedom for me as I'm recovering from a failed relationship that left quite a bit of financial burden, although I've cleaned up the majority of that. One more payment and the past is history. I own my pickup and recently paid off my car. The job is a bit slower this time of year and I now find I could use some help to get rid of these income-eating cards, while using what money I have to keep things running. As I mentioned earlier, the only explanation for my credit rating dropping since my last loan (I now show as "HR" as opposed to the "C" from last April) is the fact I now have four credit cards for business and emergencies (such as Christmas!) and I suppose the hits my rating took as well as just having them has decreased my rating. I have used them all but I am not, and have not been, late on any bills or responsibilities in a long while. I remain committed to repaying my debts. I appreciate your taking the time to view my request and hope you'll consider funding me. I certainly feel this last year has shown my reliability and sincere desire to both repay my debts on time and manage a small business. I will gladly answer any questions you may have. Thank you for your consideration. And thanks again, Prosper. HAPPY NEW YEAR!! Monthly net income: $2000.00 Monthly expenses: $ Housing: $ 0 Insurance: $ 50.00 Car expenses: $ 100.00 Utilities: $ 100.00 Phone, cable, internet: $ 50.00 Food, entertainment: $ 300.00 Clothing, household expenses $ 100.00 Credit cards and other loans: $ 100.00 Other expenses: $ 100.00 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 118941 | Purchase new work eqiupment | C | $2,000 @ 13% | Apr 04, 2007 | Loan created |
| 236553 | Expanding growing business | HR | $5,001 @ 16% | Nov 24, 2007 | Withdrawn |
| 237119 | Expanding growing business | HR | $5,500 @ 18% | Nov 25, 2007 | Expired |
| 255285 | Need Working Capital | HR | $2,500 @ 21% | Dec 24, 2007 | Withdrawn |
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