Eric's Credit Community

Introduction:  Hi!  My name is Wes.  I am a husband and a father.  We moved to Alabama about a year ago to help get back on our feet after having a baby.  The loan will help us get our credit back where it needs to be.  It will also help us pay off a few high interest credit cards that we are trying to payoff.  Our goal is to be debt free in 3-4 years. 

Credit Issues:  We filed for bankruptcy in October of last year, but then dismissed it.  We filed it because we were having trouble with the insurance company paying for the hospital bills and the mortgage company wouldn?t work with us on the sale our house.  We got it all worked out and dismissed the bankruptcy.  Two credit cards were included in the bankruptcy even though we dismissed it.   National City Mortgage put our house on short sale and said that we didn?t have to worry about making any more payments on it.  We found out later that they put our payments as delinquent.  We have not been able to get this changed.  The house has been sold and we no longer own it.  All of our other accounts are paid in full and not delinquent.  Please contact me if you have any questions.   

Repayment Ability:  I am a Retail Manager at Wal-Mart.  The number is if you need to verify my employment [PHONE DELETED].  Please ask for Human Recourses.  My Monthly income is $2,270.  I also get a yearly bonus based on how well my store does.  Whatever that bonus is it will go towards paying off this loan also.  My wife is a work at home mom.  She bargain shops at thrift stores, antique stores, yard sales, and flea markets for antiques and other valuable things.  She then lists them on E-bay and makes a profit of at least $100 dollars a month.

Here is my Budget of Monthly Income and Expenses:

Monthly Income
Base  $2270
Spouse Base  $100-200  

Total   $2370

Debt Payment
Car  $229
Credit Cards  $  200 (will be paid off with loan)
Prosper Loan  $ 340
Utilities  $250
Gas  $240
Insurance  (car)  $78   
TV  $30
Online  $10
Phone  $80
Cell Phone  $60
Groceries  $260  
Entertainment/Eating Out  $40
World Vision (feed a child)  $26
Student Loans  $100
Other  $100

Total Expenses & Debt =  $2043

*Total Cash Flow =  $327

*(income after expenses and debt payments)

The Loan will pay off the high interest credit cards (we owe about $6,000) and to paying off our car (we owe about $4,500).  That will help free up quite a bit of money to pay towards the loan.   We have to ability to pay the loan and it will help us free money up to be able to pay the loan back early.   We are a good credit risk and this loan will help us get back on our feet in paying off debt and getting closer to our goal of being debt free.  Thanks so much for considering our request!