Eric's Credit Community

Purpose of loan: I will use this money is invest in the stock market and take advantage of my knowledge on making money in volatile markets such as these. Currently I have saved up $15k to start investing; however, I will need the extra $20k to give myself enough capital to take positions where I can utilize my knowledge and place strategic trades in position where I can succeed.  This will give me sufficient starting funds to implement my positions.  I save approximately around $1k per month and I can easily wait 20 months to get myself in the position to start investing, however, I rather not wait almost two years to be in this position.  I rather start now and give prosper lenders the opportunity to give themselves a decent rate of return while I make money in the market.  The $1k that would usually be saved monthly would instead go directly to paying off the loan from prosper lenders.  In addition, my $15k I have saved up would be used as a buffer for this prosper loan, in essence this would be backup money to the prosper lenders in case of any unexpected events should occur in my life.  As for my experience in the market, I?ve previously been a personal Financial Advisor for two years a large multinational corporation (AIG). 

I have perfected a strategy to take advantage of neutral and wild swings in stock prices.  In essence, I?m able to make money in any market.  I?ve been diligently been doing paper trades for over two years.  Last year with this strategy I was able to profit $350k on paper.  And so far this year, from Jan. 2008 to now I?ve appr. have net profits of $165k after commissions.  I was unaware that my brokerage account thinkorswim.com had a paper trade platform until late last year.  I started using this platform in Jan., you can see how $84k turned into appr. $200k in a 7 month period starting from Jan. of this year. Due to the default settings in the paper trade account, the commission cost is relatively high, however, realistically the commission cost of trading with thinkorswim.com will be lower b/c they will match any competitors commissions rate. Realistically, this should add another $30k or more of profits on top of the figures above.  I have screen shots available for view at http://www.flickr.com/photos/29652411@N07/ .By having this loan this will allow me to free myself from a 9-5 job and potentially have enough to payoff my parents mortgage so they don?t have to worry about it anymore.

My Financial Situation:   I?m a good candidate for this loan b/c I have a good stable job working full time as an Assistant Director of Admissions for a private university and currently attending school full time to obtain my MBA which I have one year left.  I?ve had this job for almost two years now, and I don?t plan on leaving this position unless I promoted or end up getting a better paying job. My monthly income and savings habits put myself in a position where I can have enough money to pay off this loan earlier then the 3 year period.  In addition, I have approximately 3 months of savings just in case of emergencies on top of my $15k I have saved up. I also currently have no outstanding loans other than a credit card payment of $180 per month and I have never been late or delinquent on any loan payments. 

As mentioned above I?m able to save $1k month, here is the breakdown of my monthly budget as follows (excluding any overtime!): 
Monthly Net Income after Taxes, Medical, 401k,etc: +$2,812
Rent:-$710 Food:-$200 C.C:-$180 Gas:-$160 Ins:-$125 Cell/Net: -$92 Utilities:-$80 Personal misc:-$50 Ent.-$100 Car:$0 (paid off) = $1,699
($2,812-$1,699) = Left for Prosper loan:  $1,113 mo.