PROVEN PROSPER BORROWER: The Sequel
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,089.00 | Status: | Loan created |
| Grade: | C | DTI: | 22% |
| Lender Rate: | 18% | Borrower: | high_yield |
| Finished | State: | MI | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-20 | EricsCC ROI: | 16% |
| Status History | |
|---|---|
| Jun 20, 2008 | Current |
|
My Success Story: I am returning to Prosper with hopes of securing a second loan. My first Prosper Loan was successfully created in May 2007 for $9,000 at 15.98%, and I have made every monthly payment on-time. The first Prosper Loan was used to consolidate my credit card debt that I incurred years ago to help pay my way through college. By consolidating these extremely high-rate credit cards (>25%), I reduced my WACC (weighted average cost of capital) by more than 8%. I am very grateful to those who helped make that possible!! Purpose of Loan: This new (second) Prosper Loan would be used to payoff my Dell Account, currently $2,089 at 26.66%. Four months ago, I bought a Dell Desktop through a special work purchase program. At the time of purchase, the Dell Representative inferred that if I make a couple payments on-time that I would likely qualify for a much better interest rate. After several attempts, I have come to the realization that it was simply a sales ploy to complete the order. The price of the Dell Desktop may seem excessively high; however, I purchased a high powered system (including software) that is identical to the one that I use at the office as a financial analyst for a Fortune 500 Company. The Dell OptiPlex operates dual 22" flat panel monitors, so I can view several programs at once and cross-reference data between programs. Now, I can work from home in the evenings and weekends as needed. My Financial Situation: I am a 32 year old woman, and I have been employed by the same Fortune 500 Company as a financial analyst for the past 6 years. In addition to making my first Prosper Loan payments on-time, I also own a condo and a car, so I am well aware of the importance of a good credit rating. I have listed my monthly expenses below to show my ability to repay this loan. You can see that my monthly net income less "fixed" and "variable" expenses gives me a positive cash flow of $344 per month, which more than covers the requested (second) Prosper Loan payment (~$80). In addition, my "Dell Account" listed below as $100 would be eliminated by this Prosper Loan. In other words, my cash flow of $344 per month will improve slightly with a successful Prosper Loan. Lastly, if my financial situation should change, I can reduce the variable expenses to compensate. Monthly Net Income: $ 3,257 Monthly Expenses: $ 2,513 (fixed expenses) Condo: $ 1,082 (includes association fee) Insurance: $ 212 (car and homeowners) Car payment: $ 232 (2006 Mazda 3, 28 mpg) Gas expenses: $ 150 (three monthly fill-ups) Utilities: $ 112 (gas and electric only, water paid by condo assoc) Phone, cable, internet: $ 108 Prosper Loan: $ 317 (current loan) Credit cards and other loans: $ 200 Dell Account: $ 100 Monthly Expenses: $ 400 (variable expenses) Food, entertainment: $ 200 Clothing, household expenses $ 200 Monthly Net Cash Flow: $ 344 Thank you for your interest and consideration in my listing. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 137470 | CC Debt Consolidation | C | $12,000 @ 20% | May 14, 2007 | Withdrawn |
| 138422 | WANTED: More Mailbox Space | C | $9,000 @ 16% | May 16, 2007 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|