Has anyone used a P2P Lending site like Prosper or Lending club? - Mothering Forums

Forum Jump: 
 
Thread Tools
Old 12-12-2009, 01:37 PM - Thread Starter
 
umarider's Avatar
 
Join Date: Jan 2008
Location: Somewhere with seasons
Posts: 201
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
If so, what was your experience like? I was looking into http://www.prosper.com/ and wondered if it was a wise way to get a loan at lower interest than the bank/credit union.
umarider is offline  
Sponsored Links
Advertisement
 
Old 12-12-2009, 01:44 PM
 
UberMama's Avatar
 
Join Date: Feb 2007
Posts: 3,328
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Hmm - I had never heard of sites that dealt with peer to peer lending until I just read your post. In my brief reading about Prosper anyway, it seems that most critics think the site will fail and/or give people issues in that there are some downfalls (scammers, etc.).

See this: http://www.finance-weblog.com/502267..._will_fail.php Of course that was written in 2006 and it says why it will fail, and it's now of course 2009!

And see this: http://www.budgetcents.net/2009/11/1...ucking-me-dry/

I'm finding a lot of negatives in my searching, some negatives from reviewers/critics, others from previous customers and finally, bad reviews from some ex employees (granted, a lot of ex employees of any company have something negative to say about that company it seems).
UberMama is offline  
Old 12-12-2009, 09:08 PM - Thread Starter
 
umarider's Avatar
 
Join Date: Jan 2008
Location: Somewhere with seasons
Posts: 201
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Yikes, looks like Posper.com is a minefield! I looked further and it seems that Lendingclub.com is more stable, but I guess that's because they have a stronger "vetting" process.
umarider is offline  
Old 12-12-2009, 11:47 PM
 
SleeplessMommy's Avatar
 
Join Date: Jul 2005
Posts: 5,113
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Interesting link Ubermama -

Quote:
in my case, I am down about $575 since I started investing with them 3 years ago.
Investing? The author has a really unique definition of investment. I could understand someone trying to get a loan there, but not someone being involved on the giving side.
SleeplessMommy is offline  
 
User Tag List

Thread Tools


Forum Jump: 

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off