Eric's Credit Community

After purchasing a home in 2006, we were on top of the world.  Then between July and December 2007, our finances became strained while my wife did her full-time, unpaid internship to complete her master?s degree.  A civil engineer, I got laid off in October, along with many others whose career was tied to the sharp decline in the housing market.

During that time, groceries, gas, oil changes, and Christmas gifts were all paid via credit card.  Every penny of cash money was required for fixed expenses ? auto and homeowner?s insurance, mortgage payments, and utilities.  Today we have almost $20,000 in debt.  Thankfully, our mortgage rate is fixed.

Today, we are both employed full-time with a combined net monthly income of $5,900 ($71,000 annuallly).  While no longer in much danger of losing our house, all of our extra income is being used to pay the minimum amount on our credit card bills at a rate over 24%.  At this rate we?ll probably pay off our mortgage before our debt and my wife will never be able to realize her dream of being a stay at home mom, one of our ultimate goals behind eliminating our debt.

We are thrilled to have found Prosper!  We look forward to getting out of the red and into the black before starting a family in a few years, and all while giving back to the Prosper Community. 

About us: We are working hard to ?go green!?  Married for three years, we enjoy NFL football, camping, hiking, Frisbee-Golf, and concerts in the park.  We are training for a 5-mile race in September, which is also when our first niece will be born.  Our favorite TV shows are Jeopardy and Lost.  We enjoy working in the yard and improving our home with hard work.