Paying Down Credit Card Debt
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,550.00 | Status: | Loan created |
| Grade: | E | DTI: | 41% |
| Lender Rate: | 18% | Borrower: | lablady78 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | Sonic Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-12-20 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Dec 19, 2006 | Current |
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Introduction: Hello. My name is Nicole and I am a 28 year old wife and mother of two. My husband is 27 and we have been married for 4 years. My children are 4 and 1 (boy and girl, respectively). I earned my BS in biology, majoring in Animal Physiology and Neuroscience, from UC San Diego in 2003. I am currently employed at Merced College as a laboratory technician in the biology department. I have worked in my current field for six years, three of them with my current employer. My husband has been employed in the construction & maintenance industry for 10 years. Purpose of Loan: The purpose of the requested Prosper loan is ultimately to improve my credit score. I plan to achieve this by 1) paying down my revolving credit, 2) paying off my last remaining delinquency (a medical collection account), 3) paying off my last remaining direct deposit advance which will free up funds to apply to paying down debt as well as contributing to savings. Income: Our net monthly income is 3297.00. I am paid by direct deposit on the last business day of every month in the amount of 2416.08. In July 2005 my husband injured his shoulder while on the job and has since been receiving disability payments in the amount of 440.26 bi-weekly. Discussion of Derogatory Credit History: Before transferring to UC San Diego I attended junior college while employed full time. I began opening credit accounts but was easily able to fulfill my financial obligations as I was still living at home. After transferring I found myself responsible for my existing credit debt, living expenses and made the unfortunate decision to open more credit accounts. Being that my income was somewhat limited, mainly grants and student loans, I began to fall behind. More recently, after the birth of my daughter, a significant change in my income and lack of savings again led to delinquencies. My disability insurance has a 30 day waiting period and my sick/vacation leave only covered a portion of that waiting period. During the six weeks of maternity leave I received a total of approximately 1500.00 of income as opposed to my normal monthly income of 2400.00. In my attempt to remedy the situation, I began to take out payday loans, which due to their horrendous fees, seemed to only compound the problem. Fortunately, as of 02/06, I have been able to bring all accounts current. Also the direct deposit advance which I will pay off with the requested Prosper funds is the last remaining payday loan. Budget: Before Prosper Loan (Total: 2886.39) - Rent: 950.00 Car Payments: 643.26 Car Insurance: 142.00 Credit Cards: 193.00 Home Phone: 20.00* Mobile Phone: 60.00* Dish/Internet: 70.00* Gas & Electric: 130.00 Food, Gas & Misc: 500.00 Student Loan (Repayment to Begin 1/1/07): 128.13 Savings: 50.00 Including Prosper Loan (Total: 2905.64) - Rent: 950.00 Car Payments: 643.26 Car Insurance: 142.00 Credit Cards: 104.00 Prosper Loan (2550.00 @ 29%): 108.25 Home Phone: 20.00* Mobile Phone: 60.00* Dish/Internet: 70.00* Gas & Electric: 130.00 Food, Gas & Misc: 500.00 Student Loan: 128.13 Savings: 50.00 *Please Note: Values differ from what is presented in vetted info. I changed providers and/or discontinued services in order to decrease my expenditure on these items. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 59001 | Decrease revolving credit, Increase FICO | E | $3,800 @ 20% | Nov 08, 2006 | Withdrawn |
| 61096 | Decrease Revolving Credit to Increase Credit Score | E | $2,550 @ 23% | Nov 13, 2006 | Withdrawn |
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