?HR? grade in error ? Seeking Funding for a Man Safe Haven
| Listing Information | |||
|---|---|---|---|
| Amount: | $18,500.00 | Status: | Withdrawn |
| Grade: | HR | DTI: | 33% |
| Lender Rate: | 24% | Borrower: | smithe1 |
| Finished | State: | IL | |
| Funded: | 0% | Group: | Government Employees |
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2 erroneous DQs within the last year contributed to the HR label. 1st DQ ($206) was there on my first prosper loan last June. Fighting with the collection company & Experian over it every since no avail. Supposedly for a past due cable bill yet I currently have services with them. 2nd DQ ($561) is not mine. Supposedly a defaulted personal loan from a bank where I only have a checking account. It just posted on 28 Dec 07. Dropped my FICO score by almost 80 points. I didn't even know it was there until this prosper loan request. Contacted the bank and they are researching it. Also disputed it online with Experian. To compound the issue, Prosper only pulls my credit once in a 30 day period (procedural flaw for this very reason). My grade won't be reevaluated until Feb & I really need to press on with this loan now. Hopefully lenders can look beyond this systematic flaw and bid based on the entire situation. Purpose of the loan: Ladies have taken over my home. Have 2 Flat panel HD LCD TVs but my wife & daughter watch Lifetime, Food Network, HGTV and other reality TV stuff on them all the time. Recently bought a Dell XPS computer w/ 20 inch monitor yet my little one is on NickJr.com or a Sponge Bob game all the time. It's a power struggle just to watch a game!! Need to finish my basement (aka my Man Haven) so I can have a little me space. Received estimates on supplies, labor, wiring, etc. - approx $13.6K (includes small buffer). The additional to pay off my first prosper loan bal $4.9K. Financial goal: This project will significantly increase my home's value. That plus the $20K (from our Thrift Savings) that we used as a down payment should provide enough equity to consolidate all of our remaining debt (to include this loan) by the end of Summer. Explanation of Credit issues: The PR & the 6 legit DQs (2 are the erroneous ones from above) occurred in 2000-2001 time frame during a low period when my wife & I were separated while contemplating divorce. Experienced some severe financial set backs trying to maintain 2 households on one meager salary. Fortunately all of that is behind us now and our marriage is stronger than ever. Especially since I was finally able to take her on that dream honeymoon to the Bahamas (Thanks to Prosper lenders). 2 lates occured when I had problems updating bank info for my prosper autodraft. Fixed now. The 6 inquiries came from: Prosper (for the loan), Dell (for the computer), DirectTV (satellite service), Wachovia Bank (refinanced my SUV), & two credit accounts which I applied for during the holiday season just to get the 10% off. Monthly net household income: $3.5K (my salary alone - My spouse brings home an additional $3K+ as a Dental Hygienist). Additional income: approx $550 per month from my Air Guard "weekend warrior" drill pay. Total amount of all expenses : $2.8K (we split the monthly expenses between us). Breakdown: Recurring Monthly payments (credit cards & other loans, including 1st proper loan): $850. Recurring monthly bills (mortgage & escrow, cable, phone, electric, etc.): $1.9K. Repayment Plan (all monthly): Total Net Income: $4.1K (me only). Less my part of expenses: -$2.8K & auto draft to Thrift Savings: -$450, Plus freed up with Prosper loan payoff: + $206. Sub total: -$3.1K. Remaining to pay on new loan: $1K |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 157868 | 13 year debt to my Wife -Owe her a promised dream honeymoon | D | $5,600 @ 18% | Jun 25, 2007 | Loan created |
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