I've been providing P2P loans for a few years now. I incurred excessive credit card debt due to medical expenses for a family member and gladly would have sold my home to cover expenses. I prefer turbochecking.com though others pay a little more.

Best local price, price with additional options, port installed. To this end, Prosper takes extra care in verifying the identity of all borrowers, lenders, and group leaders. I need around 15.000 thousnds dollars and I can make payments montly ( 350 per month ) Is there anybody that would like to help. After 30 days, Prosper engages a nationally-licensed collection agency, giving borrowers 90 days to bring the account to current. I need $10000.00 to get a truck on the road and insurance.

Alot of what I've read from some posters here sounds to be victims of Prosper.com's fraud detection system. We are here to help the community, with social group lending. We make a six figure income but do not report it. Every letter of agreement is different, depending on the needs of the client and. It seems to me that when your integrity is in jeopardy, you would do all you can to prove otherwise and Prosper's representative didn't do a very good job of it in my opinion. Their are a lot people who borrow, with the intention of never paying back, you dont even get a months's payment.

Several loans on which I had winning bids were canceled because the borrower could or would not identify themselves properly, or could not provide verification of bank account, income, address or other claims they made to get a loan request listed. So far I have made ~30 loans and I do not believe any of them turned out to be all out scams. The point to this is, the accumilated interest I paid was a mere fraction of what my interest would be if I paid the debts individually and during the prescribed time. After annual lending fees of 0.5%, this would give you an annual 5.5% return overall. I am employed with same company for 21 years, individual people who loan money own 3 homes, all 30 year, no toxic mortgages. Borrowers also incur late fees, which are collected by Prosper and passed onto the people that loaned the money.

Will it has been 18 months, and my $3,500 investment is now worth $2,818 which equates to a annualized lost of (13%) A total of 20 lonas out of 88 have been charged off. All said in done I would expect to break even or earn the equivalent of <2% APY if I started taking money out now. I own a small business in California, so i won't be going anywhere for such a small amount. I've been pleasantly surpsised by the bids I've won; my average loan rate is around 12% right now. Prosper does not offer any method for lenders to liquidate and leave, other than individual people who loan money to stop lending and wait for their existing notes to mature or default.

They said I have a credit grade of E for a $281.00 hospital bill that wasn't paid and a student loan that went into default that I didn't know anything about. I registered on Prosper.com and I was seeking a $25,000 loan. Prosper was hinted to me, but it seems a little too dangerous and off-the-wall for me. Thus, this company is not that smart, as anyone knows in marketing 101 that you definately VIP the sources of all your money, and being in the top 10, those of us are a good chunk of it. My husband and I have never been late on one of our payments to our prosper lenders individual people who loan money and I wish other people would take their obligation to pay as seriously.

I've been lending on Prosper from some time now. I wish all the Lenders and Borrowers good luck and to those that take out a loan and do not intend to pay, stop, do not hurt others because you do not care about your credit. I plan on paying the loan back within 4 to 6 months. I rather make business with somebody directly.

Now it's even harder because people can hide behind the internet screen. Or those that might offer a loan but want a zero-percent interest rate. I just don't see what anyone in their right mind would use propser.com. One was repaid in full after five months so full interest was not received. Everything stated here is documented individual people who loan money and easily proven.

I paid one off in a year, another off in 1.5 years, and this one I'll have paid off after a total of 8 months. Can you step us through exactly how someone would apply to have you advertise a loan they sought, what interest rate they'd offer, how they'd get financed, and how they'd pay back the individual investors. This seems like an interesting vehicle for charities to raise money.

After reading the comments posted on your site, I am very skeptial regarding Prosper.com. I'm a LEGITIMATE person whose had difficult times but is now starting to get his life back in order. I am seeking $700 for bills,not sure the lowest you can borrow and am not trying to borrow out of my range,but my bills i need to pay only total $2800 and need $700 first payment.Can pay back by the first of Feb in full with interest. At first, I thought this might be a good way for some of the SMBs that I deal with to gain capital, but now that I have read your analysis (some of the answers from Chief Technology Officer John Witche seemed evasive and incomplete) I will wait and see and do some further checking.

The top 20 lenders are in the 15-20% interest range. At the end of September or in October I will need to borrow $6,000 to $7,000 for a car after I am cleared in bankruptcy. As a comparison - S&P 500 returned an average of 10.52% *annually* between the years of 1994 and 2007; and that includes the tech burst. I think I'll stick with a CD account where there's less risk involved. If you browse the site (start here) you'll get a good sense of who's using the site for what purposes.

Because Prosper allows lenders to bid small amounts on all or part of loans, it is easy for lenders to create well-diversified portfolios. There are a couple of requirements but easy for me to meet them. Because of those that choose to not pay their loans, it makes it difficult for the people that do pay on time to get a loan. So I asked them some questions, and Prosper's Chief Technology Officer John Witchel was kind enough to answer them.

I am looking to trade 19%-29% interest rates for less. However I'm more interested in how I could go about making my own money, as I am a 43 year old with one child (16 year old son), he is a wonderful boy. My thing is that the donations they do recive are only for daily or program usefull, so I'm trying to figure out how to get larger donations and where to look for them. I just wanted it to help pay off a cash advance I had to take when my wife and I sold our home for less than it was worth. I have been lending on Prosper for over a year and currently have made about 8% after defaults, not bad not great.

You can do it all online, without a local branch in your state. My husband and I have had great luck with Prosper.com. There are three pretty good "How it works" pages that have some nice pictures (so I won't paste them in here, but here are the links. Most people say never to lend money to Friends and Family but I'd rather lend to them than someone I don't know.

With today's money climate I would be hesitant to lend again-even after they lift the restrictions to sign up. I put in ~1K to test the waters and see how it worked. Probably close to never.I got the same person 4 times in a row.when I confronted this operator about this and asked if he was the only person that worked there he didn't have much to say.I individual people who loan money asked to speak to someone higher up.after placing me on hold 3 times, he told me I could speak to someone in the main office but they would have to call me, I couldn't call them. The main things are invest small, invest what you can afford to lose.

Jun anywhere there are loan sharks, pawn sharks, people paying money back at. I coose to have their automated system select my loans. I thought some of the answers to your questions were vague and a little evasive. Investors bid to loan you money it s not my website. Guaranteed personal loans with bad credit are designed to meet the needs of. Each loan was taken out for a 3-5 year payoff period.

Two years ago i placed money with prosper loans. We Offer all kinds of loan packages (Personal. I also get 6% interest on high-yield checking. Due to the economy banks will not do stated income personal loans. After contacting prosper, they claimed that experian uses a new state of the art with ground breaking technology to figure scores.

I can pay the money back in 3 months on the individual people who loan money short side or 6 months on the long side. As the tenth highest lender on Prosper, rest assured its not even as good as it appears or Prosper spins it. I will be updating again shortly with my personal experience and tips/pitfalls. They need to create a process for other lenders to buy other lenders notes that are not in default. I am the owner of Vno Transportation LLC and i am seeking start up funds.

We have a current loan with them and are thinking of taking another. Just search high yield checking and see what you come up with. And also I agree with many of you that now these days one has to be extra careful when it comes to handing out personal information and money. It's pretty easy to get credit cards with no or low interest rates, at least for 6 months to a year. Affordable housing is housing deemed affordable to those with a median.

The idea behind prosper.com sounds fantastic. However, it is a lot of fun if you like this sort of thing as I do, and lately my prosper individual people who loan money performance has been a whole lot better then many of my sensible investments. In summary- lending on prosper is not even close to a "safe" investment. When you start any process on Prosper that involves the exchange of money, your identity will be verified against data from credit reporting agencies and other identity and anti-fraud verification databases. At that point, the borrower's credit report is negatively impacted with a default, they are banned from the platform, and the group's reputation is negatively affected. The original idea behind Prosper was from our CEO, Chris Larsen.

They verified my social security number, my credit card number, my address and a lot of other personal information to confirm my identity. I would also venture to say that no matter how much effort is put into stopping scam loans from being made some will get through- it is an inherent risk in P2P lending.