Emergency debt consolidation
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 21% |
| Lender Rate: | 10% | Borrower: | Kentraco |
| Finished | State: | FL | |
| Funded: | 100% | Group: | 435 Supporting Lenders - Get FUNDED @ LOWER % than ANY group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-03-11 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Mar 11, 2008 | Current |
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I?m 66 years old and married. We have lived in our home since 1990. Effective August 1, 2007, I became an employee of Frey Water Systems, Inc., a company of which I have owned a thirty per cent share since 1996. My conversion to employee status was to satisfy a requirement of the IRS. Since that date, I?ve received a net salary of $800 per week ($900 gross). My other income is from Social Security ($1074 per month) and a pension from a previous employer ($176). My wife is also employed, but I am not including her income for the purpose of this listing. We have a fixed rate first mortgage, with a monthly payment of $2234 PITI. Whenever possible, we pay cash or use American Express and try to keep credit card debt very low. There are two recent incidents that caused me to return to Prosper. One of our Great Danes had a life-threatening condition (bloat and torsion) that required emergency surgery and hospitalization. He?s fine now, but there?s a huge amount coming due on our American Express card. Frey Water Systems was audited for the year 2005, and a procedural error was found that required the company to show a profit instead of a loss. The company wasn?t penalized, but we owners have to re-file our returns for that year showing that we made money from our ownership (even though none of us received any of it). So I now have an IRS debt in excess of $4000. I know I can request an installment payment plan, but I believe I can get better terms through Prosper. I?ve put a classic car up for sale at $13,000 (average retail value). But there?s no way to know how soon it will sell. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 25279 | Debt consolidation, improve cash flow | AA | $9,700 @ 13% | Jul 18, 2006 | Withdrawn |
| 25585 | Debt consolidation, improve cash flow | AA | $17,000 @ 10% | Jul 20, 2006 | Loan created |
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