prosper.com

My record with Prosper.com has been completely fine. They seem to be on the up and up.

I will keep you guys updated on my loan there..

for those of you that are signed up wit ha group i ahve a question how long after you requested to be in the group you chose how long did it take to find out if that group accepted you?

I currently have a loan with prosper. I got is about 5 months ago to pay off PDL. It saved me. I know it is never good to take on new debt to pay old debt. But it has been a lifesaver. Find a good group, get your group leader to vet you and visit the forums.
You can learn about good groups in the forums under the help tab on the homepage. Be honest and make sure you include a budget in your listing and dont expect something for nothing. You have to work for it. These are real people giving you their money. So they will question everything you say!

Good Luck!

Good point guest...that is exactly what I said I did it without a group and got funded..I agree not good to take on a new debt to cover the old but payday loans are horrible..getting myself on the right track since the "people of prosper" believed in me and gave me a chance

Just to let you all know I found an interesting article in regards to Prosper. The link is on my blog entry today (12-8) titled Loan Rangers (2nd one listed I believe)

i am confused where do i find this link?? to read the blog

I reviewed the site and Ashley's blog. I don't see anything wrong so far. But after dealing with PDL's I have learned to do my homework. Good Luck to those who are using prosper and keep us posted on your sucess or unsucess.

I have signed up several times on there and nothing has come of it. I think that if you don't have pretty good credit you aren't getting anywhere. I have one on there now and it's been there for 2 days and still no bids. Not sure what is gonna come out of it..

well i signed up to be in a group and they accepted me and i put in my request and now i am waiting for the group leader to approve it. does anyone that has a loan with them know how long this process usually takes?

depending on the group and the leader is how fast they get back to you they have 7 days..
My group leader took about 2 days to approve me..

if you dont mind me asking which group did you sign up with? did you get your loan with them?

I have not received a Loan yet.. I have started to rec funding.. i am about at 15% my other listing ran out when i was at 60%.. Oh Well. I would rather not say the group until I am funded or change...
I will PM when after my listing is done..

thats ok i understand. well thats good hopefully this one doesn't run out before it hits 100%

I am a borrower through Prosper.com. My loan ($3,500) was listed and funded in June, and I have been blogging about it every step of the way. When I listed my loan, my credit was good, but I had a very high debt to income ratio because of all of my credit card debt. Prosper ended up being a great part of my debt reduction plan.

If you are interested in reading, there is a Prosper.com category on my blog.

If anyone has questions, please feel free to ask. I've had a few people ask questions and I've answered them on my blog. Just recently someone asked me if I felt Prosper.com was trustworthy.

I too have a loan request up on Prosper. I cme across it and it sounded good, but being more savvy now than I was years ago I looking into it very closely and it seems fine. I doubt though that anyone with a low interest interest rate (below 20%) will get funded.

I am listed as high risk, 15% interest rate (as allowed by my state) with a debt to income ratio at 23%. I am asking for $2500 to pay off four of my five high interest/low limit credit cards and consolidate them into one payment. I am hoping to get funded, but I am not feeling it just yet.

I do think this is an excellent concept though...people helping people. Low risk for lenders, better chances for loans for borrowers.

Peace....

Well I tried getting a loan from prosper - my state
rate cap is 6% - I live in PA - and my credit grade is
poor - so I can't use prosper - something about not lending in PA due to the state rate cap. But I can get
a payday loan at 999999999% - and of course they are
prohibited in PA - go figure - I can't get a legal loan - but I can get a illegal loan.
well
Merry Christmas and Blessing to all

I was listed as High Risk (HR) and state capped interest rate at 15%. I requested a loan amount of $3000. I ran the bidding for three days. It was funded in full on Wendesday night at 8 pm. I received an e-mail confirmation on Thursday morning that the funds were sent to my bank and today, Friday, the money was in my bank account. I used it to pay off 5 high interest credit cards and one account in collection.

I think Prosper is great. I went from six monthly payments at 20-24% interest to one payment with 15%.

This is just my opinion and experience with Prosper.com. They are a people to people lending service,, dont lie when you post your listing because the information will be verified,, if you are a HR (high risk borrower- the application process will let you know) then you need to have a plan of action, be honest about your debts and your purpose for the loan. I know that I had alot of listings but finally got funded, the lenders are real people, not banks and they are not very willing on taking a risk on someone who does not explain their current income, past credit problems and a plan of action. I finally got funded and the loan processed which has allowed me to pay off very high interest loans and credit cards, it was a learning experience but you have to be ready to be "real" about why you are requesting the loan. Dont worry on the funding, I had several loan requests without a group and several with a group that went no where, but the minute I got my plan togather and got "real" about my situation my loan was "funded" within 2 days, there is a "verification" process which took quite some time because of my credit I did not follow because I never thought I would get a loan, but the minute I followed the "process" everything fell into place, I am now on the road to improve my credit and I am so very thankful for the opportunity,, I would suggest you give it a try, the worst that can happen is your loan won't get funded,, if at first you dont succeed,, TRY TRY AGAIN. I did and it worked for me. I would rather pay Prosper then the high interest I have right now hanging over my head. And thanks to debt consolidation Care and hours of research and the laws of my state I have almost eliminated all payday loans violating my state laws. Good luck, Prosper is worth a try if you can't walk into your local bank.