Relist-Please Help Us Break the PayDay Loan
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,250.00 | Status: | Loan created |
| Grade: | E | DTI: | 8% |
| Lender Rate: | 35% | Borrower: | family_man07 |
| Finished | State: | PA | |
| Funded: | 100% | Group: | HR-Bad Credit BUT Good People! |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-08-15 | EricsCC ROI: | 33% |
| Status History | |
|---|---|
| Aug 15, 2008 | Current |
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Purpose of loan: This loan will be used to pay off several horrible pay-day loans which will ease the financial burdern and additionaly help improve more on my credit. This is the third listing and I sincerely hope that we will be able to find the assistance that we honestly need. Our credit was not the greatest so that when medical bills and car repairs came unexpectedly I had to acquire the payday loans to make the payments. Now we are struggling to get out of the cycle. My financial situation: I am a good candidate for this loan because in the past six months I have worked consistently to improve my credit score by more than 80 points. This was through correcting misinformation, repaying some small debts, and making payment arrangements to repay on larger debts. However, currently to pay on time on all these accounts cost $500.00 a month. When we pay off one loan we have to retake a loan to make up for the shortage. It has been a vicious cycle that we just simply can not get out of. This is why I am hoping to fund this prosper loan. It has created a tremendous strain financially and emotionally for my family and I. If I were to get this loan it would only cost $101.78 month this would reduced my monthly payments to never-ending pay day loans by nearly $400.00. This payment I will be able to make with automatic electronic withdrawls and should have no problem maintaining with my budget below. Our current credit situation is improving. We have had several hardships such as having to move to another apartment when our building was sold out from under us, expensive car repairs to which we needed to pay cash, and some medical bills to pay that were not covered under our insurance. I always strive to pay on-time and in full on all our bills, however this has proven difficult with the strain of the payday loans. Securing this prosper loan will be a great relief. Please contact with any questions. We will be more than happy to answer them. Thank you. Monthly net income: $ 2,690.00 Monthly expenses: Housing: $ 900.00 Insurance: $ 127.00 Car expenses: $ 141.00 (car payment) Gasoline: $ 100.00 Utilities: $ 250.00 (Electric, Natural Gas, Water/Sewer&Trash) Phone, cable, internet: $ 120.00 Food, entertainment: $ 50.00 Groceries and household expenses $ 325.00 Diapers and Formula: $ 50.00 Doctors and Prescriptions: $ 25.00 Credit cards and other loans: $ 150.00 (Student loan & an old bank line of credit) Total Current Monthly Expenses: $ 2,238.00 Total Income Remaining After Expenses: $ 452.00 Prosper Loan Payment: $ 101.78 Total Income Remaining After Prosper Loan: $ 350.22 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 108753 | Getting Back on Track to 800 Credit | HR | $15,600 @ 5% | Mar 08, 2007 | Expired |
| 344939 | Help Break PayDay Loan and Debt Cycle | HR | $6,467 @ 35% | Jun 16, 2008 | Expired |
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