Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: 2 months late Origination Date: 2008-06-16 Payments Made: 3 of 36 Total Payments: $1675.66 / $11000.00

Listing Summary

  

Borrower Info
Requested Amount: $11000.00
Lender Rate: 26.00%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $443.20
 
Borrower: SocNetWizard
Location: CT
Group: (NoGroup)
Group Fee: 0.00%

Credit Profile
Credit Grade: C Homeowner: Yes Account Verified: Yes Debt To Income: 26%

Extended Credit Data
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Listing Description
Purpose of loan:
This loan will be used to consolidate credit card debt I amassed from a business venture that did not go as planned.  I spent over $500,000 on the venture out of my own pocket that is now sunk cash, however I still have lingering American Express bills that I need to clean-up and consolidate.

My financial situation:
I am a good candidate for this loan because I have been and am a successful entrepreneur.  Things don't always work as planned so I am just reorganizing.  In addition to taking a full-time job to cover my regular living expenses, I have just agreed to take on a consulting job to help get my situation into recovery.   Because my current extra debt is on American Express accounts, I have less leeway on floating the money so I wanted to try Prosper as a means of getting the situation under control.   I expect to take care of the loans in a timely basis, and get my situation back to even keel.

Monthly net income: $ 8,333 in salary+ $2,000 from a new consulting engagement started in 06/2008.

Monthly expenses: $
  Housing: $ 1275 ($600 mortgage + $675 property tax)
  Insurance: $ 197.25 (home & personal term life)
  Car expenses: $ 847.72 ($647.72 for two cars + $200 in gas)
  Utilities: $404 ($120 electric + $254 oil + 30 trash/recycle)
  Phone, cable, internet: $ 379 ($190 phone/cable/internet + $189 cell)
  Food, entertainment: $ 900 ($700 food & $200 entertainment)
  Clothing, household expenses $ 220 ($120 for misc activities, children activities, church + $100 budget for clothing etc)
  Credit cards and other loans: $ 519.45 (319.45 home equity loan + $200 misc personal credit cards)
  Other expenses: $ 0