Make some headway.
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,500.00 | Status: | Loan created |
| Grade: | C | DTI: | 27% |
| Lender Rate: | 35% | Borrower: | humanbeing |
| Finished | State: | WA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Late | Origination Date: | 2008-08-07 | EricsCC ROI: | 22% |
| Status History | |
|---|---|
| Aug 06, 2008 | Current |
| Nov 22, 2008 | Late |
|
Purpose of loan: Relisted twice: The first time I felt I didn't explain enough, and I was listing items that my husband pays.This time I am adjusting the loan amount to give my lenders some confidence. I will do my debt redcution more cautiously, possibly in two steps. But that's okay!. Revised my financial situation, paragraph two. This loan will be used to pay off a number of interest only loans including Cash Call. These loans were taken out during a time when we had family members who needed help with serious medical issues. This all happened so quickly and involved more than one family member. At the same time, our son was finishing up college to move to a new job offer. He needed to finish his schooling too. Some quick and poor decisions were made in the face of the emergency that bombarded us, but helping out family was a priority. I would like to be able to pay off my interest only loans and move forward with the peace of mind of not just paying interest and getting nowhere. My financial situation: I am a good candidate for this loan because I have secure full-time employment with good income as a teacher. I have been teaching for 23 years and will continue my eighth year with my current district. I pay my bills on time and have the great desire to get rid of these loans. I am currently not delinquent on anything and my one delinquency in the past seven years was due to the emergency situation. I only have five lines open now that will be paid off. The other 31 over the years were due in part to my husband's automotive business burning down and the educational and living expenses it took for a career change.These are all behind us now and our son has also graduated from college! My husband currently pays our housing, phone, car gas, and grocery bills. On the loans I would like to pay off, I am paying $1402 in interest only payments every month. I am able to make these payments now, but my situation will improve greatly with the Prosper loan. This does not put anything to principal and I will be doing this forever at this rate. It is heart breaking to my spirit to work at a job that I love to only have my hard earned pay go to interest. The Prosper loan will take my $1402 down to the half of this amount around $700 in monthly payments. This new payment and will allow me to pay off the most crucial of these loans in three years or less! It will also give me the opportunity to apply the other money to pay down the rest. My debt to income ratio will change dramatically. I will work hard for this opportunity!! You can depend on me paying back everything in a timely manner, no late payments as I would like to continue to improve my credit. My payments will be coming out automatically. Monthly net income: $ 3900 Monthly expenses: $ Housing: $ 0 Insurance: $ 175 Car expenses: $ 0 Utilities: $ 150 Phone, cable, internet: $ 0 Food, entertainment: $ 0 Clothing, household expenses $ 100 Credit cards and other loans: $1402 Other expenses: $ 0 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 376673 | Appreciating the beauty of life without the stress of debt! | C | $10,000 @ 35% | Aug 01, 2008 | Withdrawn |
| 376883 | Getting rid of interest only payments! | C | $12,000 @ 35% | Aug 02, 2008 | Withdrawn |
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