Eric's Credit Community

Personal Information:
I am Tim [LAST NAME DELETED], a soldier at Camp Casey, Korea. My family is located in Decatur, Illinois (almost the other side of the earth from where I?m at). We will be using this loan to cover travel expenses incurred by going home for Christmas to get married. My fiancee and I wed on December 30, 2006.

Repayment:
 As a soldier, I have a guaranteed income. I will have the payments for this loan automatically set aside in my account to pay each payment.

Credit:
As a teenager, I went down the wrong roads to try to get credit. With a low income job as a teenager, I sucked myself into the payday loan scam, and it cost me big time. Since joining the Army, I have been making steps to improve my credit by paying off my debts.

Budget:
Currently I make about $1,300 a month in take home pay
I automatically save a percentage of my paycheck to a retirement account as well as donate $100/mo. to the Army Emergency Relief fund (a fund that helps soldiers get home for emergency leave, etc.). These are deductions before I receive my take home pay

Out of the $1,300 take home I budget:
1. $100 Savings before anything else
2. $200 Towards old delinquencies
3. $130.00 To cover Korean Cell phone, a Vonage line, and internet access
4. $90.00 Transportation (cabs around base, buses, subways)
5. $200.00 Groceries
6. $200.00 Clothing/Supplies (Personal clothing, uniform accessories, haircuts)
7. $75.00 Toiletries (Razors, shampoo, soaps, etc.)
8. $100.00 Entertainment

After receiving the loan, I will reduce my entertainment budget to $50.00 (There are plenty of good safe ways to be entertained on an Army base internationally for under $50/mo.)
There will be $205.00 set aside JUST for the prosper loan. I plan on paying at least twice the minimum payment each month.

Bottom Line:
It?s Christmas time, as well as close to our wedding. Travel home from Korea will cost approximately $2900 for us?$1400 of which is being supplied by our parents and my savings. One thing the Army does not cover is travel expenses on Mid-Tour leave. And travel from a foreign country on the other side of the world from where you are going, is expensive. I have also signed up to become a lender, and after I am able to get home and back, plan to start using funds to lend to others who are in need. Thanks,

Tim [LAST NAME DELETED]