Let's get to the thing you noticed first; 1 public record. That is a Bankruptcy from 8 years ago. I learned my lesson and since then I haven't even been late on a single payment as reflected by my AA score. My util is <2% which is true except I have about $6000 on a Home Depot card in my wife’s name (and is the purpose of this loan).

My wife and I purchased an amazing home (our first) in October. The only way we could afford to live in the amazing neighborhood is that the previous owners did not take care of it (literally 0 maintenance was done for 7 years) and they were desperate to sell and avoid going into foreclosure. We secured an amazing price well below market value (even with the substantial repairs & upgrades the property required). Even with market prices falling 10% in our area we now have a nice equity of about $60K.

So you must be wondering with all this good news why do I need prosper? Well it took about $20K to get the property up to our standards. There was nothing structurally wrong but it was filthy, unmaintained, and needed a lot of cosmetic work (paint, new carpet, lights, fixtures, appliances, tile, etc). We also needed to buy a lot of tools for repairs and yard (I didn’t even own a rake).

Purpose of loan:
1) Pay off Home Depot in full = $6286.
2) Purchase & install high efficiency tankless hot water heater (AquaStar 2700ES) = $1660.

My financial situation:
Net take home pay (after taxes, 401K, medical insurance & health FSA -covers yearly routine costs) = $2750

My personal expenses:
Household* $1600
Car $350
Entertainment $200
Hobbies $100

This leaves about $500 in “slack” each month.Prior to the Home Depot debt I put a large potion of that towards my IRA and stock account. Since Home Depot debt I have been using any extra funds to pay down the debt.

About the “Household $1600”:
My wife and I each contribute $1600 from our individual incomes ($3200 total) to "Joint Account" each month to pay household expenses.It solves a lot of “money problems” between two independent people as we each have our own personal funds and still have enough money to pay “the bills” each month. I recommend this to any couple who has money problems or fights about where “the money is going”.

Since just saying $1600 for household doesn’t tell you much here is joint budget:
Mortgage (and insurance) $1630
Auto Insurance $65
Groceries $400
Restaurants/Dining $400
Utilities (including cable/internet) $220
Gas & Auto Expenses $250
Entertainment $150

This leaves about $100 in “slack”. Each month we have been both putting everything extra towards paying down the Home Depot card ($300-$700/mo). Since the loan will pay off this debt you can see we have no difficulty making ~$260/mo payment on the Prosper loan.

Let me make this clear because I am sure it will cause confusion. This loan is for me and will be paid with my funds. I am just showing our “joint expenses” to give you a better idea of where my money goes each month. This loan will be funded, verified, and a paid for completely with my income.