Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: Paid Origination Date: 2008-01-24 Payments Made: 2 of 36 Total Payments: $80.84 / $1200.00

Listing Summary

  

Borrower Info
Requested Amount: $1200.00
Lender Rate: 13.95%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $40.98
 
Borrower: Marv83
Location: OK
Group: (NoGroup)
Group Fee: 0.00%

Credit Profile
Credit Grade: B Homeowner: No Account Verified: Yes Debt To Income: 22%

Extended Credit Data
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Listing Description
Purpose of loan:
This loan will be used to help my mom consolidate her credit card bills.  She recently went through a divorce and lost her home as a result.  My father has not followed any of the court orders to help with the financial situation.  Because of this, my mom is experiencing the backlash of being a co-signer and is stuck with credit card payments with a 28% APR that she can't afford on her own.  My wife and I are using this loan to pay off the bill and help get her back on track without swimming upstream.
My financial situation:
I am a good candidate for this loan because I have never defaulted on a loan before.  I've been married for over a year now and do not want to do anything that would jeopardize my credit as my wife and I are hoping to purchase a home within the next 2 years.  We are VERY strict on our budget.  I currently work full-time as a baker and go to school full-time majoring in Criminal Justice.  Because of this major, having good to great credit is a must in order to better my career prospects.  My wife is a Senior Environmental Engineer major at Oklahoma State University and has recently been hired by the state.  She begins temp work shortly and moves to full-time upon graduation in May of this year.   When she moves to full-time, her salary will start between $35,000 - $40,000 and will give us a substantial boost in our cash flow in just a few short months.
 
Monthly net income: $ 1800- $1900 as of now, in May it becomes closer to $4,200.

Monthly expenses: $
  Housing: $ 500
  Insurance: $90
  Car expenses: $ 260
  Utilities: $ 80
  Phone, cable, internet: $ 90
  Food, entertainment: $ 100
  Clothing, household expenses $ 50
  Credit cards and other loans: $ 205
  Other expenses: $ 100

After all expenses we approximately have $200-300 left over per month.  In 4 months that number will increase to approximately $2,000 when my wife moves to full-time with her new career.  Thank you all for the help ahead of time.