Eric's Credit Community

I understand how important it is to have a good credit rating. This loan will allow us to consolidate our high interest accounts and improve our overall credit score. The Prosper loan would also reflect positively on my credit report as a timely loan. We are more than able to pay our loan monthly. Our payments for this loan are set up to be withdrawn directly from our checking account. This will ensure timely payments. We are also planning to pay this loan off early so you will have your investment back sooner than expected.

My group leader, Ms.Ava, has verified my credit report and my salary.

Want to pay off:
1. High Interest Auto Loan $5000
2. Medical Bills $1100

Monthly Budget
Auto Payment $600.40
Auto Payment $278.14
Mortgage $1152.00
Electric $140.00 (Average), $300 Summer
Gas $30.00
Phone $60.00
Cable & Internet $75.00
Cell Phone $67.00 (Was $140.00)

Water & Waste $80.00
Credit Cards $150.00
Food $350.00
Car Insurance $178.00
Wife?s Medications $150
Home Security $55
Medical Bills $100
Misc (Dry Cleaning, Gas, Entertainment etc.) $200

Total $3665.54

Net Monthly Income $4000.00 (After child support deduction)
Remaining Income $334.46

Monthly Budget w/Prosper loan
With the Prosper loan I will pay off the auto loan ($278.14) and medical bills ($100). Adding the Prosper loan $243.05
Total $3530.45
Net Monthly Income $4000.00 (After child support deduction)
Remaining Income $469.55 Extra 135.09 Monthly

We are also looking to refinance our second vehicle in the future to lower the payment.

Deliq:
Prosper credit score states 4 late accounts, however there is one current late account on my credit report; and arrangements have been made to bring this current. We fell behind on our mortgage and car loan due to the required registration and out of state transfer fee for both vehicles in a new state. We also incurred massive electric bills from May until September. Now that we know what to expect, we can better plan for those hot months in the future. There were expenses that we accounted for but had no idea of the unforeseen expenses of a new home. We are first time home owners. After six months of living here, we are very clear of our budget.

Why I need the Loan:
After 5 years of working for Bosch, I lost my job do to foreign trade (Germany). My wife became the consistent bread winner during these times. Within the same year, my wife lost her mother and shortly after that, her tumors returned.

Finally, in May of 2005 I began working as a Storage Engineer (85,000 yearly) but it was in Texas and we lived in Michigan. I commuted from state to state for six months. After multiple surgeries, my wife had what we hope to be, her last major surgery in October of 2005. My employer allowed me to work from home until we were able to relocate. The relocation was a great decision but it took all that we had to make the move and purchase a new home. Thank you for giving us this opportunity