Listing Profile Bid History Loan History

Listing Title


Loan Information
Loan Status: Defaulted (Bankruptcy) Origination Date: 2007-01-09 Payments Made: 11 of 36 Total Payments: $10626.58 / $25000.00

Listing Summary

  

Borrower Info
Requested Amount: $25000.00
Lender Rate: 23.00%
Automatic Funding: Yes
Percent Funded: 100%
Monthly Payment: $967.74
 
Borrower: ilike2prosper2
Location: GA
Group: (NoGroup)
Group Fee: 0.00%

Credit Profile
Credit Grade: C Homeowner: Yes Account Verified: Yes Debt To Income: 1,001%

Extended Credit Data
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Listing Description
3rd listing

Oops! I'm a rookie.  I listed it last time and did not select auto funding.  Thanks for Bidding!

2nd listing

I am resubmitting my loan request and only claiming $10 annual income. The Prosper Income Verification staff did their job within the parameters they had to work with. I had challenges providing documentation within those parameters. ( I was impressed with their diligence and now I’m becoming a lender.) I have been self employed as an ordained minister the past four years and a portion of my income comes in the form of a housing allowance which is non taxable and is not required to be reported on my tax return.

I felt the best way to verify my income was to provide bank statements, which I did, that showed I had deposited $120,000 + in my personal bank account each year for the last three years. However, this was not a method approved by the income verification department.

As evidenced by my credit report, I have not been late on any of my obligations for over twenty years. Last time my loan request was funded in 27 hours. I’m a better risk now than I was then due to the fact my truck will be in service January 15, 2007.

For those that participated in funding my loan request last time – THANK YOU! I hope you’ll participate again this time.

1st listing

I’m asking to borrow $25,000 to develop and expand my business. I believe we’ve stumbled upon a gold mine, bringing a new and innovative advertising medium to the 9th largest advertising market in the USA. We spent many, many months developing what it would take to get our business up and growing. In July I ordered our first mobile advertising vehicle. I wasn’t anticipating three setbacks to come all at once.
 
• My employer discovered plans of my new venture before I had planned to disclose it to him. I finished projects I was working on and a month later my employment came to an end.
• My truck was suppose to be built and delivered in 60 – 90 days and it’s running late (120 days) and could possibly be delayed further if Homeland Security chooses to inspect every container on that ship.
• The most disappointing setback came when my bank chose not to honor a credit line of $17,900 that I had for many years, because I was now employed for only a few months at a new business. Well, I expected setbacks along the way, because that’s part of life and the challenge of building a business.

I am being proactive in replacing the credit line with this loan. I have advertisers and investors waiting for my truck to hit the street. I’m confident in my ability to repay this loan. Let me address any possible concerns with my credit grade and DTI. My DTI is higher than I like. The major causes include putting a couple children through college, major renovations on some long held rental property preparing it for sale, and the results of a poor choice in helping a friend. My credit report will testify to the fact that I’ve never been late on a payment and after twenty-four years of a record like that I don’t intend to break it now. However, the higher credit balances I currently carry have resulted in lowering my FICO score.

Thank you for your assistance in funding my loan. Your trust is well placed, and I promise to repay you according to the terms of the note.