Loan Payoff & Wedding
| Listing Information | |||
|---|---|---|---|
| Amount: | $8,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 18% |
| Lender Rate: | 20% | Borrower: | wwilcoxen |
| Finished | State: | OR | |
| Funded: | 100% | Group: | Thousand Dollar Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-07-22 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Jul 19, 2008 | Current |
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Thanks in advance for you consideration and/or bids. I am looking to have a second prosper loan, paying off the first (higher interest) and having some money for my wedding. I am starting the rate at 28%, but believe I am a great candidate for a loan lower than that because of my track record and my rising credit worthiness over the last 18 months. I am hoping for my % rate to get bid down. I have taken on more debt since first loan, but still have a solid 18-20% DTI. I received a prosper loan in Feb 2007 (Loan 6184) for the purpose of buying a truck and finishing paying for school (undergrad). I have made a total of 18 of 18 on time payments, and have made 4 additional payments of $100 within the same timeframe. The purpose of the loan: I would like to pay off the remaining balance of my prosper loan (at a lower rate as I am paying 28% now) and I would like to use the additional cash left over to pay for necessities in my upcoming wedding (August 15th). My fiancee and I have been paying cash for as much as we can, but are slowly running out of money reserves and do not want to extend too much credit in order to make things happen. All proof of income, bonuses and length of employment were verified with my group on July 8th, 2008. My Income & Expenses: Same employer for 11+ years Monthly take home pay: $2611.58 (after taxes, insurance, 401K etc, not included are bonuses) Bonus per quarter (verified): $1,226.83 every three months = 408.94 a month Whenever I get a bonus I typically have paid extra on my prosper loan, put in savings or have paid early on student loans (in school now for my MBA & expect to graduate fall 2010). Payments on student loans to start in spring/summer of 2011(3 yrs from now)?however I have already paid $600 towards them (verified). I will direct my future bonus money towards this loan. Rent: $651.00 Prosper: $293.00 Insurance: $88.00 Gas for truck: $300.00 Phone/cable/internet: $215.00 Water: (monthly) $33.00 Garbage: $20.00 Home Depot: $30.00 Gas/Electric $80.00 Entertainment: $100.00 Wedding CC #1 :$50.00 Wedding CC #2: $50.00 (wedding CC both of us pay on these) Total Bills: $1842.00 Total income: $2611.00 (not including bonuses) Money left: $636.00 Additionally, $293 a month is for my current prosper loan which will be paid off with this loan and replaced with a $331 month prosper loan, so my current payment will just be $40 more (if the rate doesn't get bid down)! I feel my past track record with making payments is a great indicator that I will be a great candidate to loan money to. Credit Lines: The increase in credit lines from 10 to 20 is mainly due to student loans (MBA) with deferred payments until spring/summer 2011, and two small department credit cards for wedding. Inquiries: Two new accounts (for wedding). Also opened savings account for my son, inquiries through bank of America for small loan and CC to help fund the wedding (which I was denied). Thus, I am seeking a prosper loan. Public Records: Two judgments (one for a car accident & one for taxes) that are both paid in full and looking forward to those dropping off my credit report. Backup plan: As verified by my group, I have some cash reserves ($1000+) and stock positions ($1,200+) that I could liquidate if I was ever in trouble to make a payment on my prosper loan. Like before, my prosper payment will be coming directly out of my bank account automatically. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 76943 | Need Money to Save money | HR | $9,300 @ 19% | Dec 22, 2006 | Withdrawn |
| 77599 | Need Your Help | HR | $8,900 @ 27% | Dec 24, 2006 | Expired |
| 80848 | Need your help- Fully Vetted | HR | $7,000 @ 28% | Jan 03, 2007 | Loan created |
| 359904 | Wedding & Debt Consolidation | D | $8,000 @ 24% | Jun 30, 2008 | Expired |
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