Eliminating Short Term Loans & Saving Over $1200 a Month
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,500.00 | Status: | Loan created |
| Grade: | HR | DTI: | 15% |
| Lender Rate: | 35% | Borrower: | singledad01 |
| Finished | State: | MO | |
| Funded: | 100% | Group: | FUTURE FINANCIAL FREEDOM 1 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2008-04-01 | EricsCC ROI: | -79% |
| Status History | |
|---|---|
| Mar 30, 2008 | Current |
| Aug 16, 2008 | Late |
| Sep 04, 2008 | 1 month late |
| Oct 02, 2008 | 2 months late |
| Nov 02, 2008 | 3 months late |
| Dec 02, 2008 | 4+ months late |
| Dec 29, 2008 | Default |
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Purpose of loan: This loan will be used to pay off several extremely expensive payday loans. My financial situation: Thank you for considering my loan application. I am requesting a $3500.00 loan, to pay off several payday loans I took out in December & January. Up until then, I had been working my way back from a failed business (2005) and a destructive divorce (2007). I went to work for a large national corporation with steady work, plus good pay & benefits. This past December I wrecked my car. I took out a payday loan to help with the car rental. The repair was only supposed to take 10 - 14 days. Eight weeks later that one payday loan had grown to 4; and were starting to come due. Since I have gotten my car back, these loans have grown to the point, they are consuming all of my disposable income. I am a good candidate for this loan because the consolidation will save me over $1200/month (with prosper loan payment included), allowing me to pay off this loan in half the time or less. Additionally, I understand my responsibility to prosper & its members. That if prosper is to succeed in its mission, I can not just take, but must also give back to the organization that has generously assisted me in my time of need. So, besides repaying my loan in full; early. I plan on becoming a lender, focusing on D & HR borrowers; those who may be facing the greatest challenges to overcome, like myself. Thank you, again. Monthly net income: $ 3275.00 Monthly expenses: $ 3490.00 (currently) $ 2199.00 (after consolidation) Housing: $ 995.00 Insurance: $ 160.00 Car expenses: $ 190.00 Utilities: $ 150.00 Phone, cable, internet: $ 45.00 Food, entertainment: $ 400.00 Clothing, household expenses $ 100.00 Credit cards and other loans: $ 725.00 every 2 weeks (To be paid off with Prosper Loan) Other expenses: $ 0 |
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