Paying Uncle Sam
| Listing Information | |||
|---|---|---|---|
| Amount: | $24,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 41% |
| Lender Rate: | 14% | Borrower: | Zabbo14 |
| Finished | State: | CO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-14 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Apr 12, 2008 | Current |
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Purpose of loan: This loan will be used to pay an unforseen income tax bill. My husband's father passed away last year and left him as executor of his estate. There was an insurance annuity that was to be split between the three kids. Our tax advisor gave us incorrect information regarding how the annuity would affect our taxes. My husband withdrew the account and divided the money between the three kids, but did not withhold enough taxes. The result is a tax bill of slightly over $30,000 for my husband and I. A good friend of my husband (MoosieID on Prosper), highly recommended Prosper as a way to pay off the debt. My financial situation: My husband and I both have good jobs and a relatively low amount of debt. I make approximately $48,000/yr as a nurse. My husband is a wildlife biologist and does private consulting. He made a little over $65,000 last year, and is on pace to make $84,000 this year. Since we are both relatively new at our jobs (he, 2.5 yrs and me, 1.5 yrs), we haven't accrued enough savings to be able to overcome this tax bill, especially after buying a home in November. Our monthly expenses: Mortgage: $1600 Car/insurance: $450 Student loans: $365 Utilities/cable/phone: $350 Credit card pymts: $100 Gas: $400 Food/Household: $500 Health insurance: $200 Total: $3960 Our monthly income, after taxes is approximately $7,000. We will easily be able to pay the money back, but we had spent the majority of our savings on the new house (down payment, landscaping, furniture, etc). We are hoping to pay the loan back within 6 months, which should be very doable, since my husband makes nearly half of his income in the four summer months of May-August. Thanks for your consideration! |
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