Starving Scientist Needs Transitional Loan
| Listing Information | |||
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| Amount: | $14,200.00 | Status: | Withdrawn |
| Grade: | A | DTI: | 69% |
| Lender Rate: | 18% | Borrower: | DrScience |
| Finished | State: | CO | |
| Funded: | 19% | Group: | 435 Supporting Lenders - Get FUNDED @ LOWER % than ANY group |
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Starving Scientist Needs Transitional Loan My Story Since 2000, I've been the Chief Science Officer for a high-technology startup company that still exists and sells outstanding product, but continues to struggle to stay afloat. The company had to stop paying the officers by 2003 ? fallout from September 11 ? so that we could still pay the "enlisted" folk to keep the product line alive. Although I still function as the chief science guy, one cannot live and provide for a family on stock options alone (they are inedible raw, and don't cook up too well -- except at Enron, perhaps, before their demise). For what it?s worth, I have two US patents pending in fundamental computing technology. Due to the deferred income and a drawn out period of waiting for things to get better at my company, I eventually had to file for Chapter 7 Bankruptcy (discharged 18 months ago). It may help to know that my bankruptcy attorney cautioned that my 20+ year of AAA credit prior to filing for Chapter 7 would not survive in any form after the bankruptcy. And thus no one was more surprised than her when I emerged from bankruptcy with a relatively good FICO score, due entirely to a long history of nearly perfect credit. Note the current Credit Score of A. Since then, I have survived as a freelance Science and IT (information technology) consultant. Most of my contracts have been in systems architecture, business process analysis, and database design, for those who care to know. But alas, freelancing is a very hard, unstable road when one has a family and mortgage. So, I decided in May to again pursue full-time science or IT positions in academia and/or corporate R & D. Unfortunately, my decision to abandon the freelance realm came a bit late in the day, as our savings are rapidly diminishing. And of course, the prospect of losing a home or failing to meet monthly expenses would be a BIG distraction from the job search. To minimize that distraction, and thus focus intently on the obtaining at least fairly good employment, is the primary reason I am applying for this loan from the Prosper community. Income As a freelance contractor, my income has been uneven. My debt-to-income ratio (which of course includes this loan) reflects some outstanding credit debt (available due to my good credit rating, but higher interest than I would like), and the fact that Prosper is unable to verify my more current income until my accountant files my Business tax return by September 15. Meanwhile, while still doing small contracts, I am vigorously pursuing 8-12 current leads for full-time positions in research, systems analysis, and technology training. Responses from potential employers all indicate a likely favorable outcome. Thus, this application for a transition loan, to consolidate some debt, and get us through the next several months of the job search. For a suburban family of four, we live quite modestly. I have selected the loan amount to be conservative, as I anticipate having funds long before the entire amount would be needed. But it would be foolish to obtain an insufficient loan, and then be stuck in the same place down the road. Prosper appears to be a perfect example of the unique power of the online world. Thanks for reading! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 31978 | Tester | A | $12,000 @ 18% | Aug 16, 2006 | Withdrawn |
| 34011 | Starving Scientist Needs Transitional Loan (revised) | A | $11,900 @ 20% | Aug 25, 2006 | Loan created |
| 343394 | No Longer Starving Scientist Seeks Debt Consolidation | A | $12,750 @ 17% | Jul 17, 2008 | Withdrawn |
| 369609 | Now Not-Starving Scientist Seeks Debt Consolidation | A | $12,750 @ 17% | Jul 18, 2008 | Withdrawn |
| 370383 | Now Not-Starving Scientist Seeks Debt Consolidation (rev) | A | $12,750 @ 22% | Jul 20, 2008 | Withdrawn |
| 372969 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 2) | A | $9,875 @ 20% | Jul 25, 2008 | Withdrawn |
| 375631 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 3) | A | $9,875 @ 23% | Jul 30, 2008 | Withdrawn |
| 375761 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 3a) | A | $9,875 @ 23% | Jul 30, 2008 | Withdrawn |
| 376277 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 3b) | A | $9,875 @ 23% | Aug 01, 2008 | Withdrawn |
| 377662 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 4) | A | $9,875 @ 26% | Aug 04, 2008 | Withdrawn |
| 378338 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 5) | A | $7,900 @ 20% | Aug 05, 2008 | Withdrawn |
| 381048 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 6) | A | $6,900 @ 11% | Aug 11, 2008 | Withdrawn |
| 381957 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 6a) | A | $6,900 @ 19% | Aug 13, 2008 | Expired |
| 387695 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 7) | A | $8,600 @ 20% | Aug 27, 2008 | Withdrawn |
| 391521 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 7a) | A | $8,600 @ 20% | Sep 01, 2008 | Withdrawn |
| 391524 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 7a) | A | $8,600 @ 20% | Sep 01, 2008 | Expired |
| 396106 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 8) | A | $8,100 @ 19% | Sep 10, 2008 | Withdrawn |
| 399040 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 9) | A | $7,800 @ 19% | Sep 17, 2008 | Withdrawn |
| 399651 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 9) | A | $7,800 @ 19% | Sep 17, 2008 | Expired |
| 403703 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 9a) | A | $7,400 @ 18% | Sep 24, 2008 | Withdrawn |
| 406640 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 9b) | A | $7,100 @ 17% | Sep 30, 2008 | Withdrawn |
| 410148 | Now Not-Starving Scientist Seeks Debt Consolidation (rev 10) | A | $6,500 @ 16% | Oct 08, 2008 | Withdrawn |
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