prosper.com

I have heard of them and had a loan request pending on there. I had no luck with them so I withdrew my request..They seem to be okay to deal with as I have never heard anything bad about them..

I've heard of them, but never known anyone to actually get a loan from them. I'd love to hear about it from someone who has.

Just another opportunity for someone to call and shake you down for money!

Yea...that could be true...

Except..Isn't it "people helping people"? with little or no interest?

Yea..it's ppl to ppl lending and borrowing. The interest ranges from 0% (yea right) up to like 36% (that's the highest I've seen). I'm not sure how reliable it is b/c u do have to give them your bank info. The payment options are bank draft and electronic...

No! People helping people is what goes on here. Not asking for their account information for the opportunity to shake them down later.

So basically, it's just a polite payday loan.

I have done a lot of research on Prosper.com. It is the real deal. They don't shake you down for money. They just ask and it is up to you whether or not you fund the person asking. If you don't, then so be it and move on.

Yea...But I have had several listings on there and I have never had 1 bid on mine...They say it isn't hard to get a loan but really it is..

well it sounds to me like it would be a waste of time for anyone to even bother with them then because if you have to be bid on and you dont ever get bid on then what.

If your loan doesn't get any bids it moreless just cancels out after the listing time. Yea, I have a request on there now and so far I don't even think anyone has checked it out. I am assuming that it is just as hard to get one through them, as a loan company itself.

I have a loan pending my listing being reviewed by the group leader. It should go for bids, hopefully tomorrow, I'll let you know what happens

Sam keep us informed I am with Fins I am curious about this one. KYSIDE38

I have had a posting with Prosper and had zero bids until I got into a group. I dont think I will get funded.. this time but I have had bids and been in touch with the group leader..
I researched and I think it it is for real. real intrest for people with bad credit. my loan is up with a 23% intrest for 3 years.. not bad not like the PDL.
so I will let you know if I get the loan

I had a listing with them awhile back also and never got any bids. I joined a group for the second round and still never got any bids. They actually do a credit report and your credit grade is listed on your post for all to see. I believe the people who bid on your listing can actully see more of the credit report which will help them decide if they want to bid or not.

well for those that are waiting to see if they get a loan please keep us posted i am very curious about this one.

I read a little bit on their site. From what I understand (correct me if I'm wrong), the people who are willing to put up the money decide what amount of interest they want. Then they go through the potential borrowers' list and, if they see any that interests them, they put a bid on it.

I have a small loan with Prosper.com. I got it early, and got a 7.5% interest rate for about $1,000. I really just wanted to try it out.

It's my impression that getting a 7.5% interest rate is nearly impossible these days. It is also my impression that a lot of the borrowers are looking to defraud homebuyers by buying foreclosed homes and flipping them.

The person trying to get the loan can put on their listing the maximum interest rate they are willing to pay. It also has a maximum set depending on the state...Such as Wisconsin where I live, the maximum anybody could charge me would be 17%. The higher the interest rates you are willing ot pay the more bids you will probably get depending on your credit because the bidder will make more money. Bidders can also out bid each other by offering you a lower interest rate.

Thanks for sharing your story, Sam, and thanks for the info, Pinklady.

Hey guys I got a loan at prosper for 2000.00 28% interest rate my choice though..my first listing did get some bids but I lowered the amount a little and I was financed in two days...I have had no troubles with them whatsover..just make sure you are honest about your debt..and be patient...I used the money to pay off my payday loans and that is why I am here now getting advice on getting refunds from the payday companies...Prosper can be something very good...just be honest about everything..I read lots of loans where people were asking for way too much and with the income they had and the bills they had i can see why some of them did not get funded..It is truely people helping people..so they want to trust you as much as they can that you will pay them back...Prosper is a Great thing in my eyes!!!

Do you have bad credit??

bad credit..not exactly but yes I was in the HR range so no it is not the best I needed a loan asap because of the payday loans I had so that is why I opted for higher interest rate and to fund immediately instead of letting people out bid each other on the interest rate..my loan was funded very fast had no problems

When I posted mine, I could only get the interest to go up to 15%...

that sucks...in a sense..i mean yeah i have a higher rate but i did get funded..means more money for the lenders but not as much as I was paying to the payday loan sharks...lol

How did you get the interest to go up higher?? Even with it @ 15%, if someone bids and wants it higher, can they change it??

Sorry, meant to post with the other one.. When someone does bid, how do I know?

I Think the intrest is at different cap per your state max.

I am not sure of that b/c with PDL the state interest cap was 36%...

I am only 10% funded and less then 2 days to go on my loan.. and i will list again but just like a PDL you have to make sure the amount and intrest and payment is something you can pay they are real. ..

you can check your state max on the site.. Calif is 30% but I saw states with a low as 15% max

I have had one listed several times and haven't got one bid so far. I relisted again last night and so far, nothing..I just don't think that I will get it and after this one if no bids, I will quit.

what state are you in??

NC...

Did you join a group?? it really helps.. I saw your loan posted I noticed you screen name...

16% it what is says for max in NC..
(http://www.prosper.com/public/legal/states_and_licenses.aspx)

I've joined a group also. I'm going through the verification process so I can post a request, but I have to fax info. because for some reason my correct answers weren't "correct" for the verification system they are using.

I got all my info in they wont verify your bank until you have at least 5% funding.. so I am going to try again and hope I make it next time...

Good Luck Steelers1

Lets pray you are successful with getting some refunds and you can pay off Prosper. :)

Do they verify your info. through equifax? Because the questions I was answering seemed like the ones I answered when I got my free annual credit report. And even then Equifax had my info wrong. I'll be faxing the documents Friday, I want to get started.

They do.. and the DTI is off because they figure in your loan amount before any bills are paid... But you can explain this to your group.. and in your request.. that is why a group is the way to go.. also pick the group with care.. the group rating i think matters.. but i guess that is just my thinking...

I didn't list with a group, but maybe I should've. I have saw others on there that aren't listed with a group and they were fully funded..

I listed 3 with out a group and got 1 50.00.. I am with a group and have 8 and am 10% funded I know it is not great but better then 1 @ 50.00 less then 1%.

I am going to relist again with the group when this ends and see.. what can it hurt. But why not try a group... if you are giving up anyway try to join one. and see what happens I also know it is based on % intrest and credit scores and my score is very sad.. But not a HR.

I had Propser's website link on my blg for about a month and even signed up with them but something doesn't feel right, you know pit of the stomach thing so i reomved the link. I will be interested to follow someones story with Prosper from the beginning, funding, repayment, acct closed scenario

I believe Sam who is an attorney posted he is a member and took out a loan and has had no problems.

well when you guys say you should sign up with a group what do you mean? and how do you know which groups to sign up with

Prosper is a reputed loan website. People in need of loans can trust their business. Keep in mind, you are taking a loan, it comes with a rate of interest. You pay the interests and fees along with the principal amount. In case, you default, the charges touch the sky like with any other loan companies. If you borrow, make sure that you don't extend your payments. Pay it in time and be a privileged customer. They are not like the pdl places that charges illegal interests and fees. That is why, it is often hard in their website to get approved. They consider individual credit scores before approving and your payment potential.

just wondering - this prosper sounds good - I did post without a group - was disappointed - now wondering if I should try and re-post with a group,
but I live in PA - and on my previous post - one of the responses was I probally would not get funded because of the PA laws - I know my credit rating is a
HR - but I think I'll give it a second chance and post with a group...
I'll keep posting here also to let anyone know how it goes for me with prosper