- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Prosper.com
Posted on 12/27/10 at 1:17 am
Posted on 12/27/10 at 1:17 am
anyone ever borrowed or invested using this service?
I think the idea itself is really novel and hugely beneficial to alot of people, its just going to be very hard for enough people to trust it.
I think the idea itself is really novel and hugely beneficial to alot of people, its just going to be very hard for enough people to trust it.
3
Posted on 12/27/10 at 3:42 am to Brightside Bengal
Too risky on my part to be an investor. I guess it is a nice option for someone looking to borrow and cannot get approved by the bank.
Posted on 12/27/10 at 7:41 am to lynxcat
I did. After 3 years on a $5100 investment I'm $36.30 ahead. 26 charge offs so far on 96 original loans. This admittedly was thru a bad recession but their fraud prevention and collection process to me leave a lot to be desired.
Posted on 12/27/10 at 12:54 pm to bovine1
quote:
their fraud prevention and collection process to me leave a lot to be desired.
Go on...
Posted on 12/27/10 at 1:06 pm to RidiculousHype
+1. Please elaborate.
Posted on 12/27/10 at 2:31 pm to Brightside Bengal
LINK
Prosper has been discussed before. Still waiting on someone to try it and post the results. My guess the results would be a mixed bag, but I think I'd just as soon put my money on black,....or red,...... or MVIS.
Prosper has been discussed before. Still waiting on someone to try it and post the results. My guess the results would be a mixed bag, but I think I'd just as soon put my money on black,....or red,...... or MVIS.
Posted on 12/27/10 at 3:14 pm to Brightside Bengal
quote:
Prosper.com
Hmmmm... Loan money who's credit is too shitty to be able to borrow money from a bank.
No risk of loss at all there...
Posted on 12/27/10 at 8:59 pm to SG_Geaux
The interest rates are very attractive but as you can see I've made less than 1% over three years. Better than a loss but not very good. I made loans from March thru October 08. Prosper turns delinquents over to collection agencies without much success in my experience.. Several of the loans I funded made 0 or 1 payment and some of these were A borrowers. People just seemed to get the money and disappear. I call that fraud but that may be a bad choice of words. I'm not a lawyer. Prosper ratings were bunk IMO. They've totally changed the ratings now but I don't know much about them since they cleared the SEC proceedings and reemerged. I've still got some loans that are performing but when they pay out or go kaput in the next few months I'm done.
Posted on 12/27/10 at 9:02 pm to bovine1
I meant to mention you can go to ericscc.com and research Prosper including individual lenders actual results. It's a good site with a lot of good Prosper stats. Caveat emptor.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News