Payday Loan Consolidation
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,000.00 | Status: | Loan created |
| Grade: | E | DTI: | 46% |
| Lender Rate: | 23% | Borrower: | cp678 |
| Finished | State: | CA | |
| Funded: | 100% | Group: | The Group |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | 4+ months late | Origination Date: | 2006-12-27 | EricsCC ROI: | -20% |
| Status History | |
|---|---|
| Dec 28, 2006 | Current |
| May 12, 2007 | Late |
| May 28, 2007 | 1 month late |
| Jun 28, 2007 | 2 months late |
| Jul 28, 2007 | 3 months late |
| Aug 28, 2007 | 4+ months late |
|
REQUEST: $4000 loan at 26% interest, credit grade E MY STORY: I am a 26 year old executive administrative assistant for a leading healthcare provider in California. I have been employed with them for almost 5 years. I have been married for 4 years with a 3 year old son. REASON FOR THE LOAN: To be upfront and honest, I took out too many payday loans. I saw it as a quick bandage to pay for an unexpected expense - replacement of the transmission in my car ('03 Saab) which came out to $4839.38. BREAKDOWN OF PAYDAY LOANS: Payday Loan 1: $1000 + $332.50 fee/per paycheck Payday Loan 2: $1500 + $348.47 fee/per paycheck Payday Loan 3: $300 + $30 fee/per paycheck HOW I WILL REPAY THE LOAN: The money I will save from paying off the payday loans is more than enough to pay for the monthly on this prosper loan. I plan to pay this off earlier than the 36 month timeframe! INCOME: (personal monthly net) $4000 - $4400, depending on the amount of overtime worked every pay period. MONTHLY EXPENSES: Rent $0 (live with mother) Ins $185/month Amer Gen $140/month Gas $200/month CC $250/month Credit Cards $235/month Credit Union $265/month Daycare $345/month Misc Expenses $600/month (groceries, etc) TOTAL EXPENSES: $2220 OTHER ITEMS LISTED ON CREDIT REPORT THAT I DO NOT PAY FOR: Visa $70/month (husband pays) MC $50/month (husband pays) Car $620/month (husband pays) Car $230/month (husband pays) Citi $225/month (cosigner - mom pays) Nord $235/month (authorized user - mom pays) CREDIT SUMMARY: According to Prosper, my DTI is rather high. Please note my husband pays for two car payments (which are financed in my name), 2 credit cards and half of daycare. Currently, I am rebuilding my credit and have no collection accounts. I have paid my bills on time for the past 4 years. I ran into some problems with my credit in late 2001 due to losing my job and was unable to pay my bills. By late 2002, I was able to pay off all of those bills and whatever went off into collection. There is a listing for 1 current delinquency according to my credit report, but after reviewing it, that is incorrect. If you would like more information, please feel free to message me. *REASON FOR MULTIPLE INQUIRIES ON CREDIT REPORT: I was shopping for a commuter car earlier this year, and went to a dealership that "guaranteed financing". Little did I know my application was submitted to SEVERAL different banks. Thank you for your consideration! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 70881 | Debt Consolidation | E | $5,500 @ 24% | Dec 05, 2006 | Withdrawn |
| 72261 | Get out of payday loan hell! | E | $5,500 @ 21% | Dec 08, 2006 | Withdrawn |
| 72264 | Get out of payday loan hell! | E | $5,500 @ 21% | Dec 08, 2006 | Withdrawn |
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