Please help- title loan is killing me!!
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Withdrawn |
| Grade: | D | DTI: | 53% |
| Lender Rate: | 23% | Borrower: | hardworker40 |
| Finished | State: | AZ | |
| Funded: | 0% | Group: | (No Group) |
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I am trying to get back on track and need your help! Background: About two years ago, my fiance and I took out a car title loan for about $5000. I was going to have surgery and we wanted to get ahead with our bills since I would not be able to work for a few months. Well, this turned out to be the biggest mistake of our lives! The monthly payment for the title loan is about $500. As a result of this loan obligation, my credit rating has suffered and debt ratio has increased. There have been quite a few times where I have had to sacrifice other payments in order to make the title loan payment. As you can see, I took out a prosper loan in March 2007. At this time my credit rating was a "C" and, although the loan helped a bit, I should have asked for more funding in order to cover the total title loan. As a result, I am still paying on the title loan and it has been creating quite a hardship. Purpose of Loan request: My credit score has dropped quite a bit in the past year and I am trying to do all that I can to survive. My recent tax refund did help somewhat, but only in catching up with bills. Therefore, I am requesting a new Prosper loan of $10,000 to consolidate the title loan as well as a two other debts in order to be able to put more funds towards my overall bill: ** My plan is to consolidate the title loan ($500/mth), my car loan ($300/mth, and an M&I loan ($297mth). Instead of spending $1100 a month for these three items, consolidating will allow me to still pay off this debt with a lower monthly payment, while at the same time giving me the opportunity to pay my other bills on time and improve my credit rating. Currently, I have several DQ's on my record, but I have been working with my creditors, such as AMEX, EMC Mortgage and Shell in order to get my payments back on track. In addition, I have taken on a second part-time job (approximately 20 hours a week) in order to catch up. I have been making it my top priority to catch up on overdue bills and get myself back on track! Please help me pay of the title loan, consolidate my bills and put the extra funds into paying off my DQ's and fixing my credit!! As you can see, I have been a Prosper borrower for almost a year and have always paid my bill on time -- I promise to continue this!! Current Monthly net income: $2700 (both full-time and part-time jobs) plus $800 per month from fiance towards bills Current Bills: Mortage $1345 Title Loan $500 -- Plan to pay this off with new Prosper Loan Amex $250 Shell $107 (payment plan) Discover $225 Visa $250 Sears $225 Mervyn's $40 Macy's $44 M&I Loan $295 -- Plan to pay off with new Prosper Loan Citifinancial Loan $225 Prosper Loan $102 Car Payment $300 -- Plan to pay this off with new Prosper Loan Utilities $150 Car/home insurance: $120 I appreciate you consideration and will not let you down. (If anything, my first priority will by to pay my monthly Prosper loan payment as I have done on my current loan since March). Thank you. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 108901 | Trying to consolidate debt - just need a break! | C | $3,000 @ 14% | Mar 09, 2007 | Loan created |
| 227818 | Need to consolidate & close credit cards! | D | $15,000 @ 20% | Nov 07, 2007 | Withdrawn |
| 246035 | Please help- title loan is killing me!! | D | $10,500 @ 35% | Dec 06, 2007 | Withdrawn |
| 251978 | Please help- title loan is killing me!! | E | $2,000 @ 23% | Dec 17, 2007 | Withdrawn |
| 312844 | Please help- title loan is killing me!! | D | $2,000 @ 26% | Apr 17, 2008 | Withdrawn |
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