Trying hard to regain financial footing
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,800.00 | Status: | Expired |
| Grade: | D | DTI: | 12% |
| Lender Rate: | 5% | Borrower: | catwoman123 |
| Finished | State: | PA | |
| Funded: | 0% | Group: | (No Group) |
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Purpose of loan: This loan, if I am lucky enough to receive one, will be used to pay off several payday loans. These loans were applied for when unexpected bills arose -- specifically, a car repair, an emergency dentist procedure and an unexpected veterinary bill for one of my two cats. I innocently started with one loan, but was soon applying for another loan (and another) just to pay the renewal fees on each loan. For those of you not familiar with payday lending, the lenders enable you to "refinance" the loan and carry the principal amount over from paycheck to paycheck. The interest on these loans is so insanely high that if you are in my current situation, a new loan literally only pays the fees on a previous loan. I piggybacked five loans in such a manner and now have them to pay off. My financial situation: I do not have the credit to be approved for a traditional bank loan and turned to Prosper in hopes of finding someone understanding of my situation. I would like nothing more than to be fortunate enough to find someone willing to help me out of this financial nightmare. If someone is kind enough to help me out, I will be able to forever escape the payday loan rut and will be able to use my paycheck for rent, utilities, etc. And hopefully, I would be able to return the favor to someone deserving some day. Paying off these loans would give me a fresh start and enable me to regain some sense of financial security. At this point, I am wondering where the money is going to come from to pay my regular bills -- even my rent. My financial situation has improved somewhat over the years (slowly but surely), but this current situation is almost worse than where I was previously. Paying off my payday loans would lift me out of the hole I am in. I am very dependable and can ensure that if you are kind enough to give me this chance, I will be so grateful -- and a little less stressed out! At this point, I am extremely anxious about my finances and very troubled by the situation I am in. I have tweaked this listing a few times and hope that I finally have it "right" and hope that I have conveyed my need appropriately. I would just like to briefly address the number of credit card deliquencies listed in my credit history. That number is erroneously wrong. I only allow myself one open card with a limit of $1000 -- in 7 years my payment has not been late. Additionally, I have three closed cards and I can honestly say that I have not had a late payment in at least 5 years. Finally, I realize that I may be hindered by the low interest rate of 5% allowed by my state - Pennsylvania. I would gladly pay more interest, but I think that number is statutorily capped. Thanks to everyone for their consideration. Finally, II am willing to provide any potential lenders with verification of the loans and/or any other information required that is relevant to my current financial situation. Monthly net income: $ 3,916 Monthly gross income: $2,500 Monthly expenses broken down: Housing: $ 795 Insurance: $ 80 Car expenses: $50 (gas) Utilities: $ 100 Phone, cable, internet: $130 Food/Health & Beauty Aids: $60 Credit cards and other loans: $2000 (This amount includes the required payments on my payday loans.) Other expenses: $ 50 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 259856 | Trying hard to regain financial footing | D | $4,000 @ 5% | Jan 04, 2008 | Withdrawn |
| 261150 | Trying hard to regain financial footing | D | $4,000 @ 5% | Jan 07, 2008 | Withdrawn |
| 269517 | Need to pay wage tax to avoid garnished wages... | E | $1,000 @ 35% | Jul 26, 2008 | Loan created |
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