Has anyone had luck with Prosper.com?

[cap350z]

Anyone who has filed bankruptcy here.

Have you had any luck with www.prosper.com?

I would like to hear some encouraging stories about being approved for a loan there.

[Flamingo]

Anyone who has filed bankruptcy here.

Have you had any luck with www.prosper.com?

I would like to hear some encouraging stories about being approved for a loan there.

On another bankruptcy forum earlier this year a person who was a "lender" on that site started posting and was trying to get people in financial trouble to visit that site to drum up business. He posted the site as being a link to a site he created to help people not file bankruptcy. Besides being sneaky about it, he became so obnoxious about prosper.com that people quit posting and the the forum eventually closed down (note it was an unmonitored forum). If the "lenders" on prosper.com resort to such tactics to send business there, I would avoid it like the plague. Sorry this is not encouraging but to me it sounds like things are despirate there.

[rrockinggramma]

Their website looks like a lending tree type site to me. And the only loans listed were for A and B credit. Sorry, everyone here is probably in the D and F zone. LOLOL

[yoyoma51]

A few years ago (back when I had 'A' credit), I received a $15k loan from them. Paid it off. Great experience overall and the interest rate was reasonable for an unsecured loan.

[CindyLou]

If you have filed bk, then they will put your in a lower category and the interest rates will be quite high. I am a memeber on prosper and think its a great concept, but I have yet to utilize their services.

I have actually considering being on the lending end of things for just a small amount of money and see how it goes.

The great thing is you can ask for anything you want and then its up to each person if they choose to contribute to your loan. The thing that stands out to me is that it seems they are much more tolerant of someone who has maxed out everything but that still has a good credit score. Once you get into the lower levels, you will see that interest rates are very high and the contributions come in much slower.

[so-beyond-broke]

Got a loan thru Prosper

Anyone who has filed bankruptcy here.

Have you had any luck with www.prosper.com?

I would like to hear some encouraging stories about being approved for a loan there.

I got a loan from Prosper for about $1000 in December 2006 a few months out of a Ch7, but it was not easy. Because of the Bk, I originally had a E rating which went to a HR rating in a matter of days, so it was hard to attract bidders. I had to revise my postings, change groups a couple of times. Because I live in NY there was a maximum or capped amount(15%) in interest that they could charge. This was not good to some lenders especially when in other states the rates were jacked up to 29%. I was fortunate enough to have the leader of my group fund 100% of my listing which was used to pay off payday loans. I pay 34.67 every month automatically for 36 months and I have 24 to go.

They are now sending me emails, encouraging me to look into a "second" loan through prosper, due to my excellent payment history.

[Flamingo]

They are now sending me emails, encouraging me to look into a "second" loan through prosper, due to my excellent payment history.

As with any other creditor, they will keep at you to apply for more credit. Don't let them get you to go in over your head. They are out to make money as any other business and I understand some lenders troll the internet, especially anything bankruptcy or finance related as to debt problems, trying to drum up business by making misleading posts to get people to the webiste. If you do a search regarding Prosper.com as to comments from people and their experiences, you will get good and bad feedback.