Consolidate Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Withdrawn |
| Grade: | D | DTI: | 18% |
| Lender Rate: | 20% | Borrower: | Unit107 |
| Finished | State: | IN | |
| Funded: | 6% | Group: | GROUP CLOSED |
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The 20% interest I am requesting is my state?s maximum for Indiana. To all potential investors, I will try to be as forthcoming with all the issues you might have with my credit grade detail. My goal is to pay off some outstanding credit balances, personal debt and back taxes. Prior to requesting this loan, my Debt to Income ratio was listed as 11%. By using the proceeds from this loan, most of that 11% will be folded into this current loan. The additional funds will pay off a couple small debts to family and friends, and the rest to settle some back taxes, from when I was self employed. Once the proceeds from this loan are distributed, I will be approximately $500 ahead each month, compared to the current servicing agreements I have with the aforementioned creditors. As to the Issues outlined by my credit grade detail?Experian actually has me at around 635 (I know because I have a subscription to their Credit Manager and check it regularly). Of the 4 accounts listed as delinquent in the last 7 years, 2 were settled over a year ago, another within the last 6 months and the fourth has been in a payment arrangement for which I have been consistently making the payments on for the last 3 years. This account will be paid by the proceeds of this loan. This account is also the one that is listed as delinquent, because the payment arrangement has been with a collection agency and not directly to the creditor. The public record is a judgment filed in haste by a creditor that I have since settled with, and the judgment has been vacated, and should have been removed from my credit report. The inclusion of this on my credit report has been in dispute, after I have found out that removing an invalid judgment from your credit report is pretty much up to the individual, and not the creditor who reported it. FYI: Credit reporting agencies do not actively check for a public records validity, nor are they usually told when they are vacated or dismissed. You can review the status of this case at: http://198.173.15.34/?section=CASEINFOPage&CASEINFOPage=2400; refer to case #2004-M1-141522. Of the 34 credit lines, only 3 are active: My auto loan ($650/mo), a Nordstrom card($0 balance), and the remaining 3 months of my MBA student loan (Approx $850 total). 4 were outlined above. 13 are my series of undergrad student loans all fully paid in 1999. The rest are 3 past car loans, 3 past mortgages, and other various credit lines that have long been paid. It would be nice if prosper would reflect how many of these items are open, as this information is available from Experian, as they list my accounts as ?32 satisfactory accounts? and ?2 was delinquent/derogatory accounts?, which were explained above. As for Financial stability, I have been in a full-time position with a previous client over a year ago and make $100K per year + bonuses. I recently moved to be closer to our new office and was approved for a mortgage up to $400K. However, we could not find a home suitable for our family and decided to rent, and will probably build a home in the next 1 to 2 years. Thus the need to clear those final few issues from the credit report as soon as possible. I would be glad to answer any additional questions you might have about my intentions with is loan, and any personal information about my credibility, as it pertains to this loan request. Mark |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 25896 | Get back on path | D | $25,000 @ 17% | Jul 21, 2006 | Withdrawn |
| 27399 | Consolidate to improve family's future | D | $25,000 @ 20% | Jul 28, 2006 | Expired |
| 29171 | Consolidate to improve my family's future | D | $13,000 @ 20% | Aug 04, 2006 | Withdrawn |
| 30431 | Improving family's future | D | $9,500 @ 20% | Aug 10, 2006 | Withdrawn |
| 31349 | Paying off debt to improve credit | D | $7,500 @ 18% | Aug 14, 2006 | Loan created |
| 347610 | Moving to Texas | C | $4,000 @ 16% | Jun 09, 2008 | Expired |
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