Listing Profile Bid History Loan History
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Listing Title


Loan Information
Loan Status: Current Origination Date: 2008-09-24 Payments Made: 3 of 36 Total Payments: $162.72 / $1500.00

Listing Summary

  

Borrower Info
Requested Amount: $1500.00
Lender Rate: 18.21%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $54.39
 
Borrower: outlawstoge
Location: AL
Group: (NoGroup)
Group Fee: 0.00%

Credit Profile
Credit Grade: C Homeowner: Yes Account Verified: Yes Debt To Income: 0%

Extended Credit Data
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Listing Description
Purpose of loan:
This loan will be used to cover my expenses for the last year of graduate school as well as emergency expenses that have arisen in the past few months. This is a relisting because my first request for $5000 was not met.

My financial situation:
I am a good candidate for this loan because I will be graduating with a PhD in Chemical Engineering and an MBA in August 2009. With this combination of degrees, my approximate income upon graduation will be $100K+. I am currently a homeowner, and I planned to take out a small home equity loan to cover my last year of school and some recent expenses (hit and run accident where the villain got away, damage from Tropical Storm Fay), but lending restrictions have prevented me from doing so. I have approximately $40-50K of equity in my home, but because of my student income, traditional banks are afraid to loan anything, not even the $5K I was originally asking for. Up until a few months ago, I never missed a payment on anything in my 11+ year credit history, and only have two late payments on credit cards recently. My credit report shows a large number of credit lines, but each line is a student loan for a semester, and I've been in college for a decade (30 semesters = 30 credit lines, I hate that they do it that way!). All of those loans are in deferment until 6 months after I graduate (which would put the first payment in Feb. 2010), and the Prosper loan will be repaid before student loans even come into the picture. I know I have 3 years to repay, but I'd rather pay it back in one and become a lender to help out other graduate students. Please feel free to ask any questions.

Monthly net income: $ 2500

Monthly expenses: $
  Housing: $ 750
  Insurance: $ 60
  Car expenses: $ 0 (truck worth $7000, paid for but I can't sell it since I drive to campus)
  Utilities: $ 200
  Phone, cable, internet: $ 120 
  Food, entertainment: $ 400
  Clothing, household expenses $ 100 
  Credit cards and other loans: $ 500 (again, all student loans are in deferment until at least Feb. 2010)
  Other expenses: $