Second Prosper Loan - Low DTI
| Listing Information | |||
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| Amount: | $5,900.00 | Status: | Expired |
| Grade: | D | DTI: | 18% |
| Lender Rate: | 32% | Borrower: | zo1957 |
| Finished | State: | GA | |
| Funded: | 15% | Group: | Have Money - Will Bid |
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Thanks for viewing our listing. Purpose Of Loan: We currently have a Prosper Loan which has always been ontime and current and would like to request another so that we can get a delinquent amount from a previous medical expense completely off of our credit. Our credit rating has improved since the first loan from an "E" to a "D" and while a "D" is not great, it does show we are making progress. Our DTI has also dropped from 22% to 18%. We are a middle-class, conservative family, own our own home and are steadily re-building our credit and will eventually become Debt Free. Sounds strange coming from someone generating a listing to obtain a loan but, I would rather pay the investors using Prosper as an investment tool (even at a higher rate), than I would pay hospitals, credit card companies or other loan providers. Our Credit: Our credit took a hit a couple of years ago due to an extended illness but, we are getting back on track now and my wife has gone back to work full-time. We are steadily paying the bills we incurred due to the medical problems but they keep showing as delinquent on our credit until we get them completely paid off. We would like to replace them with a Prosper loan that will start off as current and will stay that way. We have another Prosper loan that has never been late and so our repayment history with Prosper is, and will remain current. My Prosper Loan will pay the following : The $ 5,900.00, combined with the tax stimulus that we received will allow us to pay off the delinquent medical expense (approx $ 7,400) currently having a negative impact on our credit. Monthly net income: $ I recently celebrated my 30 year service anniversary with my company, so job stability is not a problem. I currently make a little over $ 100,000.00 per year and can provide current paystubs or W2's substantiating my salary. We make a good salary and based on that salary, are a little embarrassed to be in this position, want to get over the hump to continue to make progress. Monthly expenses: $ Housing: $ 2,513.00 Insurance: $ 400.00 Car expenses: $ 575.00 Utilities: $ 250.00 Phone, cable, internet: $ 160.00 Food, entertainment: $ 350.00 Clothing, household expenses $ 200.00 Credit cards and other loans: $ 450.00 Other expenses (including medical): $ 650.00 Total: 5548.00 This loan will reduce my monthly debt by approx $ 400.00 per month, so we will easily be able to absorb the approximately $ 250.00 monthly Prosper payment. This will allow us to be more aggressive in attacking our remaining debt and build an emergency fund so that we never get into this situation again. We are now on a written budget, are working to pay off our debts, smallest to largest, and even though borrowing money is not the way to get out of debt, we feel as though getting these medical bills off of our credit history will help us to improve our credit score and to eventually refinance our mortgage. We promise that our payments to Prosper will be a top priority each month (As they have been with the current loan). We |
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| 151977 | Consolidate High Interest Credit | E | $7,600 @ 28% | Jun 14, 2007 | Withdrawn |
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