Eric's Credit Community

Purpose of loan:
This loan will be used to pay off a credit card currently in collections. I am currently paying on it, hence the total is $0, but I still owe $2250 to the agency. This is the one delinquency on my report and in all actuality it should be zero now as well. I guess I just need the report to catch up. I had some personal hardships during my undergraduate education and honestly my world was turned upside down. This is the reason why my accounts were so extremely delinquent. The sole purpose of this loan is to get rid of this debt. After two other listings and advice from other members- I have slimmed down my request to just pay for this card- I feel this may be the best option to establish my loan accountability and make sure my report reflects the positive changes I have made before I ask for loans of larger amounts.

My financial situation:
I would like to add that all payments will be automatically deducted from my account through the automatic deduction option on repaying this loan. PAYMENTS WILL BE ON TIME! I am in a completely different stage in my life and my main goal is to get back to financial stability.

I am a good candidate for this loan because I have an amazing and stable job in biotech sales and I am back on track finally to fixing any discrepancies on my credit history. I am new to Prosper and looking to repair some past mistakes to my credit. I am a college graduate with an incredible job in the Biotech industry and will be attending a MBA program at the country’s largest research university. No worries, my employer will be paying for school, but I will be looking to start a major campaign to repair my credit. I am trying to repair some damage I made while in undergraduate. I had a couple of set backs in school, the most pressing was the death of my younger brother, but I am finally at the point financially and emotionally for a fresh start. These setbacks knocked me off balance for a little bit, but now I am ready and willing to do all in my power to fix my past mistakes. The only problem is that it is extremely hard to get a start. I have applied, without success, on several occasions for a bank funded loan, but I feel my past mistakes are just too great. Unfortunately, I do not have the opportunity to explain to them that those mistakes were a one time occurrence during an extremely difficult time in my life. I have an amazing job (employed for over a year now) that pays for my needs four times over, but now all I want to do is use those extra funds to help me restore my credit. I have begun with little payments here and there, but I really need to pay a credit card in full that is currently in collections. Thank you so much for any consideration and understanding.

Monthly net income: $ 2450.00 + commissions ($ +600.00)

Monthly expenses: $ 2096
Housing: $ 1100.00
Insurance: $ 105.00
Car/Gas expenses: $120.00
Utilities: $ 95.00
Phone, cable, internet: $ 66.00
Food, entertainment: $ 350.00
Credit cards and other loans: $ 260.00