Eric's Credit Community

About Me:

Once again, I and the wife are helping our son get his finances in order. I am 45 years old, married for 22 years, one son 22 years old, two daughters ages 13 and 8 years old. I have been with my current employer for about a year. My wife is employed by U.S. Bankruptcy Court for 21 years. We have been home owners for 14 years. No car payments, with some small credit card debt (approximately $1,500).

Explanation of Credit:

My credit has improved to a D grade from HR since my first loan with Prosper. My wife currently has an AA grade, with a FICO score over 700.

What I will Do with the Money Loaned to me:

I will use the funds to pay off my son?s credit cards and old cell phone and cable bills. I and the wife do not want to use our current funds to payoff his bills, but we I willing to apply for a loan to satisfy his debts.

Here are my Monthly Financial Details:

Net income: $2,300
Spouse's Income: $3,206
Rental Income from son: $500

Total monthly family Income $6,006

Mortgage payment: $1,862
Current Prosper loan payment: $108
Current Spouse?s Prosper loan payment: $113
New Prosper loan payment: $104
Auto Insurance: $100
Sacramento County Utilities: $60
City of Elk Grove-Garbage: $47
Pacific Gas and Electric: $57
Sacramento Municipal Utility District: $80
Food and Groceries: $400
A T and T Wireless: $140
24 Hour Fitness: $24
Wyndham Vacation Resorts (Maintenance fees): $54
Frontier Communications (phone, internet, satellite): $113
Daughter?s(2) Mutual Fund: $150
Oakmark Mutual Fund: $300
Investment Club: $25
Bradshaw Christian School (daughter's school tutition) $580
American Express Card (used for gasoline) $300
Other credit cards: $250
Entertainment: $150
Dining out: $150
Miscellanous expenses: $150
Spouse's miscellanous expeneses: $250

Total Monthly Expenses $5,567

We have approximately $433 a month after expenses, used for unexpected expenses; daughters' activities (softball, basketball, soccer, karate, and dance).  We also deposit some funds to a regular savings account for emergencies. 

Thank you for considering my request for this loan.