In the spirit of Thanksgiving, it's time for a warm fuzzy and someone giving thanks. It's good to remember that there are real people borrowing on Prosper and they are trying to better themselves. Here's one borrower's story:
I would like to give a little update on what happened in the past few months since I am not that much around in the forums anymore.
Naturally my credit score has improved immensely and I’m still paying off my remaining debts as best as I can.
I also received more available credit on my remaining credit cards which I am not using and this improved my score as well.
I did have some major expenses in the meantime, which depleted most of my savings, but I did not need to accumulate new debts !
To explain this a little further: due to my Prosper loan and the debt consolidation with it, I was able to save enough money
to pay for a new computer I needed, a new printer which broke, and I was also able to pay for
my daughter’s vacation with my family in Germany for the long summer break.
After she came back she needed new clothes for school, school supply and also a birthday present.
Guess the expenses never end, but this too was paid from money I had put away, without incurring new debt.
I was approved for a decent mortgage rate (6.5% from Wells Fargo) with a 100% financing and was on my way to purchase my first own house through a bankruptcy short sale, but after 3 months of waiting for the bank to finish their paperwork I withdrew my offer.
I changed my mind about the house purchase for now because of the still too unstable real estate market.
Some of you may remember that I took on a second job to improve my monthly income, and I am still working at both jobs!
Now, with all the miles I’m driving to commute between those 2 jobs, I actually needed to make the decision of purchasing
a new (used) car.
I think I got a great deal on a 7 months old car and was able to get this 100% financed through Riverside International Bank at 11.5%.
For the car interested readers: I found a 2007 Ford Fusion with 14.000 miles for $13.500 and still under fully factory warranty.
Some of you may think this is not such a great deal, but regarding my situation and where I was standing when I was relisting
and relisting here for a loan a few months back, I think I did a pretty good job at improving my financial standings.
As stated above, this is just another little update and a BIG THANK YOU to all my lenders
and the few friends I actually made here on this side!