Eric's Credit Community

Hello.  I am seeking a second Prosper loan to quickly pay off some high interest credit card debt I accumulated during my time in school and as a volunteer.  Texas law limits personal loan rates on Prosper, so I have listed this as a business loan.  I believe this is still appropriate as the loan will free up income to apply toward my actuarial career.  I have already experimented with a first Prosper loan and have decided to use Prosper to finish consolidation of my credit debt.  You can view the history of my account and see that I have been making payments on the first loan for two years without incident.  I intend to pay back both Prosper loans early.  NOTE THAT MY CREDIT GRADE HAS GONE UP TWO GRADES SINCE MY LAST LOAN.

My credit rating takes a hit due to my relatively high usage of available credit (and to a lesser extent, opening a new car loan and high-interest checking account).  As you can see, I do not have any delinquencies to my name.  My MyFico Score Watch credit score as of late May 2008 was 699. 

I graduated in 2003 from Cornell University with a BS in Operations Research and Industrial Engineering.  I am currently employed as a health actuary by the State of Texas (where I have worked for about 1.5 years).  Previously I worked as a research associate for a professional association.  My new position brings with it an increase of $17k in salary.  This will allow me to accelerate the process of debt reduction, but I would much prefer a Prosper loan to the credit debt.  I am steadily employed and enjoy a good salary in an area with a low cost of living.  My financial information is below.  I have also included the text of my member profile for your convenience.

Income:
Monthly net income = $3,400

Expenses:
Rent = $250
Utilities = $100
Home Phone/DSL = $30
Cellular Phone = $100 (I pay for myself, my mother, and an uncle - and have done so for 5+ years without issue)
Student Loans = $236
Credit Card Minimums = $300
Car Payments + Insurance = $350
First Prosper Loan = $92
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Total Fixed Expenses: $1,458

Disposable income = $1,942.  From this I spend approximately $400 on food/groceries, $100 on gas, $100 to savings, and an additional $400-900 to my credit cards.  Thank you for your consideration.

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I graduated from Cornell University in 2003 with a BS in Operations Research and Industrial Engineering.  Originally from the New York metro area, I now reside in Austin, TX.  I now work full-time as a health actuary for the State of Texas.

Immediately after graduation, I moved to Austin to work as an Americorps*VISTA volunteer through a startup non-profit dedicated to promoting technology improvement in public schools.  Upon completion of service with Americorps, I accepted a position with a professional association, for whom I worked for nearly three years.  I would like to note that within my first year of employment I was awarded an annual salary increase of 23 percent. 

I am currently working as an actuary full-time.  I am continuing to take the exams, and I have already passed the first four examinations and am well on my way to passing my fifth.