Eric's Credit Community

  Hello Prosper members. I am in a bind and hope that you are willing to help out a single mom of 3 teenagers. I am requesting $1,900 for 2 reasons. First it?s to cover the $370 plus fees and 425% interest for a payday loan I obtained. I?ve already extended the loan once by just paying the fees and a small amount toward the principal. As of now, I owe $413. However it becomes a trap if you can?t pay off a loan immediately in full when its due. I know this from past experience, but I was really desperate. My car had broken down twice in a 10 day period. The second repair was not covered by my extended warranty and so I needed the payday loan to add to what funds I had left. The second reason I am requesting a loan is to pay off the remaining balance of my car loan which is $1,428. My car is getting older (1998) and its developing more problems and after 2 breakdowns last month ? I just want to pay it off immediately so that I can sell it or trade it in for something more reliable. Paying off my vehicle now will also boost my credit which is what I need since I am recovering from a Ch 7 bankruptcy. Since my discharge in July, I have obtained 2 credit cards with modest amounts and have been paying my bills on time. However, I do have a 30 day late that the bank listed on my credit report for missing a payment in July (the bank would not negotiate a deferred payment schedule due to the bankruptcy). I have been paying a little extra on my loan each month to catch up. So paying this loan off "in full" will improve my credit reports. The great thing about a Ch 7 bankruptcy is that I wiped out all of my debts except for the car loan and student loan which is deferred to next spring . Since I can?t file another bankruptcy (don?t plan to) for 8 years then I am considered a safe risk. I?ve learned through my ordeal that each cloud does have a silver lining. I know that I can pay back the prosper loan (approx. $72 a month) I request because I will no longer have a $330 car payment and I am getting a raise in December. With a prosper loan, I can finally start contributing to my savings so that I won?t need to rely on any more payday loans.
 
Here are my expenses: Take home pay: $1765 a month Son?s SSI : $411 Before Prosper   Total $2,011 After Prosper Total $ 1,763
When I received my discharge papers, I was given a second chance. Please help me out so that I can continue on my path of second chances in life and believe that there are individuals who really care to help others in need. Thank you and God Bless