Improving Credit Score
| Listing Information | |||
|---|---|---|---|
| Amount: | $1,000.00 | Status: | Loan created |
| Grade: | HR | DTI: | 46% |
| Lender Rate: | 15% | Borrower: | divermedic |
| Finished | State: | TX | |
| Funded: | 100% | Group: | BORROWERS - Free instant Listings - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-01-11 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Jan 13, 2007 | Current |
|
ABOUT ME: I am 37 years old, married for 7 years, 3 boys ages 17, 11, and 10. I am currently self employed as a business consultant and have been for the last 10 years. EXPLANATION OF BAD CREDIT: When I married my wife she had about 60k in debt because she helped fund her dads business. That business was forced in to bankruptcy by its creditors other than my wife. The court denied my wife?s request for payment because she was an officer of the company. Because of this we had to file personal bankruptcy. I had no credit up to that point because I was in the military and had paid for everything in cash except for a 15k student loan. We then restarted our lives and became business consultants and landed a contract with an incorporation company and worked there for about 2 years. Unfortunately we found our self?s in the middle of a company that was conducting fraudulent business practices. Once we found this out we both canceled our services that we were providing them, as we both have moral and ethical standards and could not be apart of that. How ever this left us with no income for several months. WHAT I WILL DO WITH THE MONEY LOANED TO ME: $1000.00 in credit card debt between my wife and I that we would like to pay off to raise our credit score so that we can qualify in the next year to refinance our house for a better interest rate which is at 11% on $96,700.00HERE ARE MY MONTHLY FINANCIAL DETAILS: Net income after payroll deductions from all sources: $ 1297.30 which will go up as I gain more clients. Spouse's Income: $ 2044.10 Total monthly family Income $ 3341.40 Mortgage (the house is in my wife?s name): $ 874.18 Phone: $ 29.95 Gas: $ none our house is all electric Electricity & Water: $ 78.78 Car Loan and Operating Expenses: $ Car is paid off Food: $ 500.00 Insurance: $ 197.00 Cable/Internet: $49.00 Clothing, expenses for children, etc. $200.00 Child Support: 300.00 Student loan: $200.00 Credit cards and loans that won't be paid off with my Prosper loan: $ 0 ----------------------- Total Monthly Expenses: $ 2428.91 I will have $912.49 left to make the payments on my Prosper loan. CLOSING REMARKS TO LENDERS: As you can see, I am finally in a place where with just a bit of help I could get current on some old debt which will give my wife and I better credit scores in order to get a better interest rate on our home as well as the ability to keep improving our family?s lives. I really hope that you consider helping us as we plan on helping others once we get control of this debt and become debt free. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 64263 | Need just a little help to get my life back on track | HR | $2,495 @ 25% | Nov 20, 2006 | Expired |
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