Comments on: Could Prosper Help Someone Like Me?

By: Final Words on My Prosper Borrowing Experience » Blogging Away Debt

Final Words on My Prosper Borrowing Experience » Blogging Away Debt — Tue, 30 Oct 2007 02:37:04 +0000

[...] first, I wasn’t even sure Prosper could help someone like me (for those unfamiliar with Prosper, it is a people-to-people lending site). I tried going to banks [...]

By: Blogging Away Debt » Blog Archive » A Reflective Look Back at 2006 - Goodbye to $13,000 of our Debt

Sun, 31 Dec 2006 02:26:08 +0000

[...] Could Prosper Help Someone Like Me – My first thoughts about Prosper.com (who I did receive a loan from later in my journey). [...]

By: Tricia

Tricia — Sat, 27 May 2006 00:12:00 +0000

I will keep everyone updated. I am still thinking about doing it as part of my balance transfer scheme. Basically, getting all of the money off of Credit Card #2 just to transfer it back on at a lower rate. Now when lenders read what I will be doing, would they still be interested in funding me for a month of interest?

I still need to investigate the charges I will incur with using Prosper and have to see if it is worth it to go for it. I’ll be keeping an eye on you Tim to see how it goes for you (hopefully well!).

By: Pragmatic Finance

Pragmatic Finance — Fri, 26 May 2006 21:01:00 +0000

Keep us updated if you decide to try it out. I have been thinking of joining from the lending side. I figure it could make some decent returns and help some people out.

If I do decide to join I think I will just do a few hundred over many loans while I get a feel for it. The site and idea is kinda new so I’m sure alot of others, like me, are weary of putting alot of money in or loaning to people that appear they may default.

By: Tim MMF

Tim MMF — Fri, 26 May 2006 11:24:00 +0000

Actually Prosper does verify income…sort of. They ask for W2s and/or a pay stub. At least they did for me.

I think Prosper could help ya out. I’m thinking of doing the same thing for my credit card debt. I also want to get funding for some business ventures.

I wrote an article about it yesterday, I’ve also done an interview with Prosper. Come check ‘em out.

By: Anonymous

Anonymous — Tue, 23 May 2006 06:40:00 +0000

16.49 is definatly a rip off. No need to be shy.

Put all of your cash into paying off your CC and sell all of your junk on ebay/craigslist. After your utilization % drops you might have better luck getting a different card and rolling the balance over.

BTW, as far as I know prosper doesn’t verify income.

By: Lisa

Lisa — Mon, 22 May 2006 16:11:00 +0000

Good luck, Tricia! Rumor has it that threatening to surf your balance to another card works wonders. They don’t know that you don’t have another offer standing by. And with a big interest rate like 16.49%, they don’t want to lose you as a customer. Report back!

By: Tricia

Tricia — Mon, 22 May 2006 06:51:00 +0000

I have tried calling them a few times. Quite a while ago (probably around 3 years ago) – that worked and my interest rate was lowered to 7.9%. But then it kept going up and up. I’ve called to inquire, and they just said it was because of interest rates going up in general. And now – they will not budge. I think they realize that my balance is too high and I no longer get offers for lower rates

I do plan on calling them again now that the balance has been reduced quite a bit in a short amount of time. Perhaps now they will budge

By: Lisa

Lisa — Sun, 21 May 2006 23:31:00 +0000

Have you tried calling your lender and saying “This 16.49% you are charging me is ridiculous. I get 5-10 offers for lower rates every week. Lower my rate or else I will surf my balance to another card and you will never make any more money from me again.” What harm could it do?