Existing Prosper Borrower - NEVER LATE!
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,500.00 | Status: | Expired |
| Grade: | E | DTI: | 21% |
| Lender Rate: | 8% | Borrower: | Nowitzki41 |
| Finished | State: | TX | |
| Funded: | 0% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
|
I have made eight on-time payments to an existing Prosper loan for 20k. I am looking for this additional $8500 in order to pay off some outstanding collection items on my credit. You will see that my profile shows me to have 35k in delinquent balances spread over 7-8 accounts. Of this about 24k is allocated to my 1st and 2nd mortgage on my primary residence. The 1st of these was an ARM and both loans have already been consolidated and restructured but are not yet reflecting on my credit report. The other 11-12k is for various collection accounts over 4 years old. Some are my fault and some are not. For the items that are not my fault, I have exhausted every possible means to have these items removed ? often even having success only to see them reappear months later posted by a different debtholder. The items that are my fault all involve some type of discrepancy in the amount due. I have always been willing to pay the appropriate amount but have been unwilling to be strong armed into an erroneous and inflated amount. FYI ? by ?inflated amount? I do NOT mean that interest and collection fees have been added but rather that the original debt is significantly in error. After fighting the good fight on these items for years, I have come to the decision that I can only let my ?I won?t pay it on the principle? attitude cost me so much. Even if I have to pay more than I should or for a debt that is not mine, it simply is the fiscally responsible thing for me to do at this time to pay all items. So far, the damage that these items have done has cost me literally tens of thousands of dollars in increased interest charges and It is much better for me to pay them off. As for my overall credit situation, these items drag my credit down well below what I feel is a truly accurate picture of my repayment ability. Excluding the above items, I have had only two 30 day lates in the past 4 years and nothing in excess of that. Prior to that there were some longer lates and some collection accounts (due to a divorce) that have since been rectified. I have several well maintained accounts including autos, investment property and credit cards. Regarding my bank card utilization, except for 2 cards (which both have extended 0 interest deals) I pay all credit cards off at the end of every month. However, depending on what time of the month the credit cards report it can show my utilization as higher than is accurate because I use a couple of cards heavily for business. I will also pay off the two 0% interest cards when the offers expire in 2009. I earn over 250k in documentable income, am a homeowner, am married with 2 kids, a stable career and significant hard assets. My profile will show a recent job change, however, I have been in the same industry for 8+ years and it was a move up for me with an increase in pay. I have made a similar move 3 times in the past 3 years, but now expect to be with this company for the foreseeable future. Thank you for your consideration! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 105161 | A MILLION DOLLAR MUTT FOR ONLY $25K | C | $25,000 @ 22% | Mar 01, 2007 | Withdrawn |
| 105624 | GROWING FAMILY BUSINESS NEEDS CASH TO GROW | C | $25,000 @ 28% | Mar 02, 2007 | Withdrawn |
| 106103 | FAMILY RUN DOT COM READY FOR EXPLOSIVE GROWTH | C | $20,000 @ 18% | Mar 04, 2007 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|