Business Growth exceeds current cashflow
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 14% |
| Lender Rate: | 17% | Borrower: | RichardStocks |
| Finished | State: | GA | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 2 months late | Origination Date: | 2008-04-28 | EricsCC ROI: | -52% |
| Status History | |
|---|---|
| Apr 26, 2008 | Current |
| Nov 14, 2008 | Late |
| Nov 29, 2008 | 1 month late |
| Dec 29, 2008 | 2 months late |
|
Hi, I'm a 38 Year old Englishman living in Norcross Georgia with my beautiful New Jersey born wife. I have been in the US for nearly 4 years and have worked hard to establish credit which up until about 6 months ago was a fine 700+ score. Recently, with the move from NJ to GA, an increase in travel for work and the subsequent credit card expenditure as well as some purchases for our new home my credit card balances have gotten too high for me to pay off in a single payment. In addition my wife and I have started on a journey towards financial freedom and have chosen Real Estate as one of our paths for this journey. If you know real estate you'll know that you are constantly asking for loans and mortgages, as a result my credit has taken a pounding. Finally as a result of mismanaging my car payment in the last 4 months of a 3 year lease I inadvertently defaulted on $50 which has come back to bite me - hard. Not a problem to Ford apparently who issued me a brand new car at 3% but a big problem for other lenders. Having pulled my credit files I can see 4 reasons for a low score. 1 - Credit Card balances too High 2 - A $50 default for the car payment 3 - Too many credit inquiries - for our real estate projects 4 - Credit established time too short - I've only held US credit for 4 years wheras for my age it should be closer to 20 years. I would like to work to increase my credit score by establishing loans to reduce my card balances and maintain exemplary payments. As a member of this group I promise and commit to the team that I WILL pay, on time and In Full. The money will be used to pay off my highest interest rate credit card with the biggest balance. Net income after payroll deductions from all sources: $5300 Spouse's Income: $ Total monthly family Income $5300 Mortgage/Rent: $2500 Phone: $100 Gas: $100 Electricity & Water: $100 Car Loan and Operating Expenses: $500 Food: $250 Insurance: $40 Cable/Internet: $ in with phone Clothing, expenses for children, etc. $0 Credit cards and loans that won't be paid off with my Prosper loan: $400 Other: $250 Total Monthly Expenses : $4200 I will have $1100 left to make the payments on my Prosper loan. As you can see, I am in a place where with your assistance I can start to make the changes that need to be made to help my wife and I achieve our goals. As a member of this group I promise and commit to the team that I WILL pay, on time and In Full. Thank you in advance for your kind consideration. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 92683 | I'd love to borrow more when my credit score is higher | C | $19,000 @ 14% | Feb 02, 2007 | Loan created |
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