Eric's Credit Community - Prosper.com Data & Statistics

Need to replace Car Transmission

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Listing Information
Amount:	$3,001.00	Status:	Loan created
Grade:	E	DTI:	7%
Lender Rate:	20%	Borrower:	Canucks
Time Left:	Finished	State:	GA
Funded:	100%	Group:	Virtual Lending Group

Loan Information
Loan Status:	Paid	Origination Date:	2007-01-30	EricsCC ROI:	19%

Status History
Jan 30, 2007	Current
Mar 19, 2008	Payoff in progress
Mar 22, 2008	Paid

I need this loan to replace the transmission of my 2000 BMW 323.

My monthly budget is detailed below.

I am a college graduate, married with 2 kids. Older boy is a varsity track athlete in the high school and the younger son is a hockey player in his middle school. My wife is stay-at-home mother.

Currently I am employed with a major financial institution for the past 1.5 years. My credit rating was seriously impacted during a lengthy 4 years unemployment (2002 ? 2005). Financial conditions at home are now stable since the beginning of last year.

Appreciate you taking your time to review my loan request. Please let me know if I can provide any further explanation / detail to facilitate your decision.

Thanks in advance..
-Paul-

Re-Listing with the following changes ?

Increased proposed interest rate by 2%
Decreased requested amount by $500
Explanation of few items on my Credit Report (I sincerely hope that it would help every potential lender in making their decision) ?

I have been paying my existing car loan of $378 per month to Americredit for the past 1 year (since February 2006), without any issues.
I have a successful credit history paying off my mortgage payments (with Washington Mutual and Guaranty Fed Savings Bank) as well as a number of auto loans (BMW and Toyota).
A couple of outstanding credit card balances showing in my report (with Capital One) should have been cleared in my bankruptcy filing of 2002. But they were mistakenly left out of the filing papers. Hence they are still showing in my credit report as outstanding balance.
My Credit Report shows 4 public records (bankruptcy records). In fact there should be only 2. I had 2 bankruptcy filings during my long unemployment of 4 years, trying to save my house from a very aggressive mortgage lender ? 1st one in 2002 and the 2nd in 2003. Second bankruptcy filing ended up showing in my reports for 3 times. Reason for these multiple entries ? initial paper work submitted on 07/30/03 was incomplete hence required a re-submission on 10/21/03. Then I was advised to change the filing from a Chapter 13 to a Chapter 7 on 04/05/04. To follow proper court procedures, every time I changed my filing, court clerk had to close the previous case# and open a new one. This situation ended up creating 3 different court records for the same bankruptcy filing.

Budget Details:

Yearly salary:    $87,000.00
Monthly net:      $ 4,800.00

Monthly Expenses:

Rent/Mortgage:  $1,750.00
Utilities/Internet: $ 350.00
Cell/Phone:        $   200.00
Car Loan:           $   378.00
Transportation:   $   250.00
Car & House Ins:$   150.00
Groceries:          $   600.00
Misc. Expenses: $ 250.00
TOTAL:              $3,928.00

Amount left over to go toward your Prosper loan = $872.00

Borrower's Other Listings
83605	Need to replace car's transmission	E	$3,500 @ 20%	Jan 10, 2007	Expired
268473	Trying to help a family member for Cancer Treatment	D	$4,000 @ 20%	Jan 20, 2008	Expired
272404	Please help to support a family member for cancer treatment	D	$3,001 @ 22%	Jan 28, 2008	Expired
368279	Previous loan was paid on time - Help to pay medical bills	E	$5,000 @ 25%	Jul 16, 2008	Withdrawn
370729	Last Prosper loan paid on time - Need to pay medical bills	E	$3,000 @ 31%	Jul 21, 2008	Expired
374530	Last Prosper loan paid on time - Need to pay medical bills	E	$3,000 @ 35%	Jul 28, 2008	Expired

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