Rebuid Credit and Repair Home
Click Here to view this listing on Prosper
|Funded:||100%||Group:||First Things First|
|Loan Status:||Default||Origination Date:||2007-01-17||EricsCC ROI:||-59%|
|Jan 20, 2007||Current|
|Jun 01, 2007||Late|
|Jun 18, 2007||1 month late|
|Jul 19, 2007||2 months late|
|Aug 27, 2007||3 months late|
|Sep 18, 2007||4+ months late|
|Dec 28, 2007||Default|
1.) MY STORY- I am a single mother, homeowner, and Grandmother. I live on a rather modest budget. I have not been too informed about my credit over the years, since I never really spend money I do not have. Through talking with my friend and neighbor, Denise ( snittybee) I have begun examining my credit and starting to rebuild it. Denise suggested I could join Prosper, and make some marked improvements in my Credit report and scores.
2.) REASON FOR THE LOAN- There are very few alternatives for people in my situation. I could take out a loan against the equity in my home, but the rates have been rather high, and the loan companies as well as my local bank have made suggestion I need to make some repairs to my home, to help increase it's asset' value. I have been planning to make these repairs for some time, I have saved some towards their cost, but as I have received several contractor estimates, I have still lack the majority of funds to have them executed. I also really need to establish a postive credit line in my CR, one which will show timely payments for a 3 year period should really help to boost my credit score.
3.) PROSPER LOAN REPAYMENT- I have ample income to cover all of my monthly expenses and even have established a small emergency fund savings account. I have approx. $400.00 in additional income per month. I would use a portion of this to pay the $80.00 Monthly loan payment, as well as pay down any DQ's and add to my savings each month. It is of the highest priority to me to have 36 timely payments made.
4.) PROJECTED BUDGET - Inc. Avg.= $ $1650.00 ( includes $450.00 which I cannot verify) Monthly expenses;Mortgage $400.00 Utilities= $ 450.00 monthly, Food= $250.00, Auto= $175.00, Clothing Misc= $100.00
5.) EXPLANATION OF CR NEGATIVES- They List 3 current DQ's. I have only just pulled my CR and note 2 are medical bills and nominal in amount. The Other is a Heilig Meyers Account, I thought was settled. No Defaults on any loans. This is first time I have pulled my CR, I was not even aware of them.You can trust, I have not spent more than I can handle, Nor will I now. My Primary asset is my home, I would not do anything to risk the security it provides.My low credit score is primarily due to the fact I have never had many loans or CC's established, So, it would be raised by establishing a postive credit line with timely repayment. If there is anything I can provide to help you decide to bid, I will be happy to supply it. I trust one thing you will find, I care a great deal about honesty, and my reputation. I will have this loan repaid and always on time. I am aware the interest rate is slightly low, But Cannot offer higher rate due to State Cap. I will provide documentation or vetting through my GL. Here is a link to forums for discussion and questions..Thank You
Thank you for considering my loan request
|Borrower's Other Listings|
|78676||Home Repairs||HR||$2,000 @ 17%||Dec 27, 2006||Withdrawn|