Eric's Credit Community

My name is Shelly. I have maintained my job for over five years and work 40-80 hours a week. I recently received a raise December 2006 and scheduled to receive another raise in May 2007. I live with my parent because working so many hours left me ?prone? to many break ins and one auto theft. Ordinarily, I am very responsible in managing my money - a lesson learned first two years of college. However, due to an illness resulting in unpaid sick leave income was low. My dilemma began with obtaining a payday loan to pay bills. Over a period of two months, my financial quick fix, easily snowballed into several payday loans - a payment of $1200.00 on refinance fees (payments did not touch the principal - APR?s range 260.72% to 730.00%). I have attempted to obtain a loan from my bank but denied. Upon, reviewing my credit report there were several medical bills in collection status (not mine) and one credit card from freshman year. I have since disputed several items and the credit card should be off my report in March 2007. I am relisting for the amount of $3,000 loan to help pay off these loans. I am not running from my debt - I work hard, long hours and will continue to do so until debt free - all debts will be paid - I promise to pay Prosper back as fast as I can. Obtaining this loan would allow me to get out of handing my paycheck to the payday loan companies. I calculated my total monthly income based on pay prior to receiving raise(s).

Monthly Income (Gross)
$2160.00 Base
$2240.00 OT pay
$5400.00 Total

Monthly Debt
 (W/O Prosper)                          (With Prosper)
- 546.95 Auto                          - 546.95 Auto
- 201.28 Auto Insurance                - 201.28 Auto Insurance
- 65.00 Cell                           - 65.00 Cell
- 650.00 Misc                          - 650.00 Misc
- 50.00 Credit Cards ($1400.00)        - 50.00 Credit Cards
- 797.28 Unsecured Loans ($7931.37)    - 797.28 Unsecured Loans
- 2000.00 Payday Loans ($6561.20)      - 146.67 Prosper Loan (payday loans paid)   
- 4310.51 Total                        - 2475.18 Total

This loan would allow me pay off all the payday loans within two pay cycles. Overall, improving and allowing me to correct my financial situation by significantly decreasing my monthly debt. Thank you for your time