Any experience with prosper.com

[scfr]

Re: Any experience with prosper.com

I checked out the web site awhile back after reading about it here, and I read the Money mag article yesterday. I'm intrigued but still sitting on the fence. Those who have loaned through Prosper, what is the current track record?

[disneysteve]

Re: Any experience with prosper.com

I've been browsing a bit today. Some of the folks looking for loans sound promising, like the ones who say they are current lenders and want to see what it is like on the borrower's side of things. Others sound like they just haven't thought things through, like the guy who wants to borrow at 9.95% and use the money for investing. I'd love to know where he expects to invest and earn a high enough return to pay off the loan, pay the taxes and still make a decent profit. Heck, if those types of investments were out there, why would we lend the money to him. The folks who want a prosper loan rather than charging something to their credit card (because the prosper interest rate is lower) also could be good lending choices. I think I may give this a whirl sometime soon.

[jmjj215]

Re: Any experience with prosper.com

Just an update - my sixth loan that was late is now current again. Woohoo!

[poundwise]

Re: Any experience with prosper.com

Just an update - my sixth loan that was late is now current again. Woohoo!

Great!

[magnate]

Re: Any experience with prosper.com

Prosper is a very legitimate and reliable site. I checked their site and they were already featured in reputable publications like Newsweek, Reader's Digest, The Wall Street Journal, Busineweek, Dow Jones, and the New York Times. Here's the link.

[creditcardfree]

Re: Any experience with prosper.com

I almost suggested this to some poster who was need a lower interest rate on a loan but has bad credit. Would this site be a good thing to be referring some of our forum members to? Or does their bad credit reflect just as bad on this site as well? Any thoughts?