Masters Degree Tuition & Medical Expenses
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,000.00 | Status: | Loan created |
| Grade: | C | DTI: | 32% |
| Lender Rate: | 22% | Borrower: | SIRRAY |
| Finished | State: | IL | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-01-14 | EricsCC ROI: | 19% |
| Status History | |
|---|---|
| Jan 12, 2008 | Current |
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Purpose of loan: This loan will be used to pay my MBA education tuition in late February 2008 and to pay down some high interest Chase credit cards. Any additional funds will be used to pay down another high interest loans. On my first listing I requested twice the amount and did not receive full funding. I recognize that with no history on Prosper I would likely be more successful in receiving a full funding if I requested a lesser amount. That is the course of action I am taking now. Financial situation: I am a good candidate for this loan because I have worked extremely hard over the last 7+ years to pay all of my debts timely and promptly. I had a former small business in 2004-2005 that was audited by the IRS and they found that we had made some accounting errors. The IRS was only too happy to penalize us for our honest mistakes. We had to pay the IRS $12K for the mistakes and the penalties which successfully wiped out the majority of our savings. We also suffered a flood in our finished basement last year when I was away on business which cost me over $10K to replace and repair the damage incurred. After having our savings drained by the audit I was unfortunately forced to pay for much of the repairs with credit cards. This has had ripple effects on us since last year and I am finding that the high interest rate debt isn't helping us pay down on the principal. I am vigorously trying to maintain a perfect pay history and seeing that my borrowing capacity and options are limited, I am exploring this avenue to try to continue my education pursuits and to get that principal paid down once and for all. I am going to resume my MBA studies in early Spring 2008 after taking a year off. I am half way to earning my MBA degree with Regis University in Colorado. I have made straight A's in the six courses I have taken thus far. I began my studies in 2006 and recently had to put my education on hold as we transitioned to a new city with my career. I plan to use this money to pay for tuition and to pay down some high interest rate credit cards. I am the father of two small children and the husband to a beautiful wife and mother. This loan would be most helpful to us as we continue to try and build our future in a positive and healthy manner. Monthly net income: $ 8167 + annual bonus in Feb of upwards of 20% my annual base. Also, I get $300 profit/mo on a lease option to buy on our former residence. Monthly expenses: $ Housing: $ 3100 Insurance: $ 170 Car expenses: $ 1000 Utilities: $ 400 Phone, cable, internet: $ 135 Food, entertainment: $ 750 Clothing, household expenses $ 120 Credit cards and other loans: $ 1300 Other expenses: $ 300 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 256297 | Paying off High Rate Credit Cards | C | $15,000 @ 30% | Dec 28, 2007 | Expired |
| 260521 | College Tuition & Medical Expenses | C | $7,000 @ 27% | Jan 05, 2008 | Withdrawn |
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