Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: Current Origination Date: 2006-10-24 Payments Made: 24 of 36 Total Payments: $8331.00 / $10000.00

Listing Summary

  

Borrower Info
Requested Amount: $10000.00
Lender Rate: 15.00%
Automatic Funding: No
Percent Funded: 100%
Monthly Payment: $346.65
 
Borrower: financially_recovered
Location: NC
Group: GROUPCLOSED
Group Fee: 0.00%

Credit Profile
Credit Grade: C Homeowner: Yes Account Verified: Yes Debt To Income: 6%

Extended Credit Data
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Listing Description
Over the last several years, I have been driving drivable junk – really cheap, very high miles, and usually always needing some type of repair.  But they got me from point A to B and to work.  It’s what I needed and all I could afford.

I’m back on my feet financially and I need a reliable car.  I have saved about $3000 for a new car but now the car that I currently have needs work and to repair will take just about everything that I’ve saved!

In summary, I’m an IT professional with 25+ years experience and always had an excellent credit rating.  But like many others the last few years I have been unemployed, under-employed and grossly under-employed. 

In 1999, I was working a contract position for a major international container shipping company making $52/hr.  It was an open-ended contract, with no end in sight.  Then the company was sold and the new company chose not to pick up our contracts and let us go after the first of the year.

I sent my resume out to a dead job market.  A resume that usually generated 10-15 inquires, minimum, the first week, didn’t get that many inquires in 6 months. I was out of work for 2 years.  I lived off my savings, equity credit line and credit cards.  I finally filed Chapter 7 Bankruptcy.

As luck would have it, I found a job within a few weeks of filing Chapter 7.  I filed again; this time Chapter 13.   The new job paid half what I used to make and less that I had made in IT since 1990 but the bankruptcy payments were getting made on time and things were looking better.  But I was laid off again after only a little over a year on the job.

This time, the resume went out to a job market that was as bad if not worse than before.  It took me almost 3 years to find something again.   But this time there were no savings or credit cards to fall back on.  I very quickly fell out of the bankruptcy because I couldn’t make the payments and the mortgage companies eventually foreclosed on the house.

A friend had opened a convenience store and needed a manager he could trust.  I worked for him, working 70-80 hours a week making basically minimum wage.

I had just about given up on finding another IT position of any kind, anywhere (except India) but in November, 2005 I started working for the United States Postal Services in their IT division.  Now I’m back on my feet financially again and things are great!  And I need a reliable car!

My state maximum is 16%.  I would have been willing to pay considerably more if allowed.

My financial information:
Yearly income:  $72,000 gross
Take Home:  $62,400/yr,  $5,200/mo.
Monthly expenses:  $2300  (includes rent, utilities, car insurance and everything else)

Now the HORRIBLE Scorex report:
Now delinquent:  5     These are charge-offs.  Everything has been paid on time for the last nine months.
Delinquencies in last 7 yr:  41     Hopefully, the above explains it.
Public Records in last 10 yr: 2    Chapter 7 Bankruptcy, then Chapter 13.
Total credit lines:  12     7 of these are chargeoffs.  The ones open and their balances are:  Aspire  $179.00, Lowe’s  $235.00, Dillard’s $0, Spiegel $0, Capital One  $0.  Dillard’s and Spiegel have not been used since 1999 and I have no plan of using them in the future.  The Capital One has been opened since 1993 and I don’t even remember what it is.

Thank you for reading my request.  If you have any questions or need further information, please let me know.