Eric's Credit Community

Hello potential lenders!

 My name is Deb and I am seeking a loan of $2800 to pay off 4 pay-day loans and some past medical bills that are on my credit report.
 
My goal is first and foremost to pay off my pay-day loans to free up cash for my other bills and allow myself to slowly start working on repairing my credit. 
Paying off the delinquent medical bills will not raise my credit rating, but it is the first step in the process. It will also put me in a better position to keep my current accounts in good standing.

I currently have 4 pay-day loans out that are making it rather difficult to keep my head above water.The amounts listed here include the interest which I pay bi-weekly: $480, $390, $289, $265.The interest on the $265 does go down 5 dollars per interest payment I make.
 I took out these loans  to pay for car repairs and a trip up north in my state for my grandson to stand up in a wedding.  Unfortunately this started a cycle that I couldn?t stop, as one loan came due I had to take out another through the same company just to be able to pay rent. Needless to say I  would much rather pay one smaller payment per month rather than giving such a large part of my check over to interest each payday.

 My DQ's: I have $1332 in past medical bills. This is the total amount on ALL the medical DQ's. I'm the type of person who does not go to a doctor unless I have to.  At the time I incurred these bills, I did not have the funds to pay them because I was helping my daughter and new grandson. Initially, she did not receive child support. I also paid legal fees to help my daughter in her battle to receive court ordered child support. She now receives child support, so I am no longer responsible for all of their needs .  

Paying these medical bills will take care of 12 of the DQ's on my record, leaving me with  2 DQ's to pay. One is being disputed, one will be disputed as soon as I find my personal information to do so, another has payment arrangements on it and I am current with those.

Financial Information: I work full time for an insurance broker firm, am paid $17.75 per hour, bi-weekly, and have been working there for 4 years .

Monthly budget:
Income $1792
$795- rent
$89 - interest on PDL's
$90 - " "
$80 - " "
$65 - " "
$75 - energy bill
$100- gas for car
$300- food
$20 - credit card
Total Expenses $1614
leaving me with :  $178

At this pace, I am making almost no progress on the pay day loans, and have to choose to either save for a rainy day or work on delinquent accounts. I can?t do both.

**Please note - my daughter pays for the phone/cable/internet bill, and she contributes to misc. household expenses as well. I do not have car insurance as it is not required.
 
Monthly budget after Prosper loan:
$1792
$795 - rent
$75 - energy bill
$100 - gas for car
$300 - food
$20 - credit card
$99.83 - Prosper loan with 17% interest ( all my state will allow) Total Expenses: $1389.83
leaving me with: $402.17

With that left over I can make arrangements on my 2 remaining collection accounts AND start saving for a rainy day.

I am looking forward to paying off my debt and proving that there are some people out there that want to better themselves.
I hope you see me as one of those people.