Re-List: Consolidate credit card debt and fund business
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Loan created |
| Grade: | E | DTI: | 44% |
| Lender Rate: | 27% | Borrower: | legacy2009 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Default | Origination Date: | 2007-01-10 | EricsCC ROI: | -50% |
| Status History | |
|---|---|
| Jan 13, 2007 | Current |
| Jul 25, 2007 | Late |
| Aug 11, 2007 | 1 month late |
| Sep 11, 2007 | 2 months late |
| Oct 11, 2007 | 3 months late |
| Nov 11, 2007 | 4+ months late |
| Feb 18, 2008 | Default |
| Mar 06, 2008 | Repurchased |
| Jun 10, 2008 | Default |
|
Hi my name is Tim. Pictured are me, my son Giordan (2yrs), wife Gigi, and daughter Hunter (7yrs). This is a re-list?my first listing funded 64%, and I learned a lot about what my listing was lacking to make it to 100%?so here is my second attempt with more information. About Me: I am a military veteran?I served 8 yrs in the U.S. Marines. I am employed full-time as a cost accounting manager with a $70,000 annual income, plus bonus and annual increases. I am also a law student studying 20 hours a week in my second year scheduled to graduate in 2009. I also have a seasonal tax preparation business that I have been building since 2003, which is expected to earn $35,000 this year (not included in DTI or Budget). Why I?m Asking For a Loan: In the recent past I made some home improvements and funded my business with my credit cards using almost my maximum available credit. This took nearly 100 points off my credit score, and I should not have done things that way, but I learned a valuable lesson. Now, I am asking for a loan to consolidate credit cards, and fund my business for the next 4 months with working capital and reserves. In addition, by consolidating my credit cards and paying off high balances, I should be able to increase my credit score, enabling me to refinance my house and consolidate debt that is not taken care of in this loan, pay off this loan, and if anything is left in equity further capitalize my business. Use of Funds From This Loan: $250 prosper lending fee $14,750 to consolidate credit card debt $5,000 for business working capital $5,000 for business reserves My Budget: Monthly Gross: $5,833.33 Monthly Net: $4,837.32 Monthly Expenses (before prosper loan): Mortgage: $1,304 Car Loan: $385 Credit Cards: $521 Honda Loan: $69 Furniture Loan: $112 Food: $200 Insurance: $129 Gas: $150 Phone/Cable: $71.50 Utilities: $105 Tuition Payments: $100 Total: $3,146.50 Available: $1,690.82 Monthly Expenses (after prosper loan): Mortgage: $1,304 Prosper Loan: $1,041 Car Loan: $385 Credit Cards: $35 Honda Loan: $69 Furniture Loan: $112 Food: $200 Insurance: $129 Gas: $150 Phone/Cable: $71.50 Utilities: $105 Tuition Payments: $100 Total: $3,701.50 Remaining Available: $1,135.82 Conclusion: As you can see I am a good credit risk despite my credit score as it is now. I hope you can help me reach my goals with this loan. If you have other questions visit my profile where I have uploaded my pay stub, and my bank balance. Thank you and God Bless! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 71981 | Consolidate credit debt and fund business | E | $25,000 @ 29% | Dec 08, 2006 | Expired |
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Discussion For This Listing
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