Eric's Credit Community

This is my second loan request on Prosper. My previous loan was funded in June 2006, paid on-time each month and recently paid off. This new request is to continue my quest for self improvement. When I initially tried to consolidate my high interest credit card and debt (in June), after consulting with my group leader and seeing other listings on Prosper, I felt that I would not have been successful in getting a larger loan amount funded, so I requested a lower amount than necessary to consolidate all of my outstanding loans. This loan will be used to completely pay off (and consolidate) the remainder of my high interest credit card debt and loans, which should also improve my credit score by drastically decreasing my utilization.

I recently read ?The Richest Man in Babylon? and ?Smart Women Finish Rich.? These books have inspired me. My desire to start saving has grown even stronger. I have sufficient monthly income to repay this loan. My annual income from all sources is over $69K. I sometimes moonlight on the side by selling on EBay and mystery shopping for apartment consulting firms. That additional income is not included here. My husband has been with his company for 16 years. In the unlikely event that I?m strapped for cash to pay this loan, I can tap into my husband?s salary, which is about 20% more than mine or his home equity, which is about $60K.

My budgeted monthly expenses total approximately $4,334. The difference between my old budget and the new is an increased amount for household contribution (mortgage/electricity/water, daycare). With the Prosper loan, my budget will be lower (depending on the final Prosper interest rate), thereby allowing me to pay off my high interest debt and cards even more and save.

I?m a known member on the Prosper forums (member name Deb) and I?ve even met some lenders and group leaders in person. My husband and I met these Prosper members at the S. California meet and greet held last August.

Reason for offering 29% - I began the bid at the highest possible rate. If my loan is funded and gets bid down, that?s wonderful. If it doesn?t, I?m aware that my E Credit Score (only due to utilization) may not allow for a lower rate. I have zero (0) current and zero (0) past delinquencies and zero (0) public records. Either way, your investment is safe with me as the borrower. Feel free to PM me with any questions.

Here?s the link to the forum thread regarding this listing: http://forums.prosper.com/index.php?act=ST&f=11&t=17305