Prosper.com
Prosper.com
there was an article in readers digest about this site...
http://www.prosper.com/ ...
i think that it is a good idea, but it has so much risk attached to it... i haven't looked that much into the site yet about how the lender is protected, if any... but just wanted to see if any of you have used this site...
http://www.prosper.com/ ...
i think that it is a good idea, but it has so much risk attached to it... i haven't looked that much into the site yet about how the lender is protected, if any... but just wanted to see if any of you have used this site...
Safety Car
Joined: Jan 2002
Posts: 4,001
Likes: 17
From: Renton, WA
according to the site, the lender is not protected...the best you can do is, if the person asking for the loan defaults, you can write off what you initially gave
Edit: Still, if you bid $50-$100, and spread out on a lot of loans, you can try to minimize your risk
Edit: Still, if you bid $50-$100, and spread out on a lot of loans, you can try to minimize your risk
Moderator Alumnus
Joined: Jan 2001
Posts: 37,312
Likes: 337
From: SoCal
Trending Topics
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This is taken right out of a chapter of The World is Flat
With the advent of "community designed software" (ala Linux, Apache etc.) people are beginning to realize the potential for community based initiative to turn a profit. It is a great idea actually. The human resources on the Internet far outweigh the resources of the elite few in-charge, top-down decision makers.
Lending is just as risky for well known lending institutions, thus the rules and guidelines for lending. If you are willing to take that same risk then hey......you might make some money (or lose some)
With the advent of "community designed software" (ala Linux, Apache etc.) people are beginning to realize the potential for community based initiative to turn a profit. It is a great idea actually. The human resources on the Internet far outweigh the resources of the elite few in-charge, top-down decision makers.
Lending is just as risky for well known lending institutions, thus the rules and guidelines for lending. If you are willing to take that same risk then hey......you might make some money (or lose some)
Burning Brakes
Joined: Sep 2003
Posts: 787
Likes: 0
Originally Posted by fast-tl
I registered; now to figure out how/what to use the service...I *would* like to join the rest of America by finally buying a big screen!
Suzuka Master
Joined: Aug 2003
Posts: 5,124
Likes: 0
From: MD
Originally Posted by Msnowdon
If you are going to use it to borrow money, why not go to Best Buy and get a zero interest loan?
trill recognize trill
Joined: Nov 2004
Posts: 4,222
Likes: 1
From: htown, tx
Originally Posted by Mike 350Z
Just heard about prosper.com a little bit ago so I've started doing my research....but how do you get 0% loans at BB? I thought they were like 20% unless you pay everything off within a few months???