09-25-2007, 04:12 AM | #1 |
Senior Member
Join Date: Aug 2005
Posts: 763
|
Has anyone used Prosper.com
I repeat, has anyone used www.Prosper.com? It looks completely safe to give my money to complete strangers with piss-poor credit ratings, but I want to know if something should deter me from 24% returns.
__________________
Oh, he's very popular Ed. The sportos, the motorheads, geeks, sluts, bloods, waistoids, dweebies, dickheads - they all adore him. They think he's a righteous dude. - Bronco, when asked how to describe PH
|
09-25-2007, 04:18 AM | #2 | |
Senior Member
Join Date: Jul 2006
Posts: 860
|
Quote:
I suppose you could investigate the portfolio theory on this, but I suspect you would have to own a lot of loans at 24% interest to even out the credit risk, even if you could evaluate the risk accurately from afar. Perhaps better returns than Vegas or the lottery, though. |
|
09-25-2007, 02:49 PM | #3 |
Senior Member
Join Date: Jan 2006
Posts: 6,177
|
Fascinating idea. I'd stay away, but it's interesting.
|
09-25-2007, 02:50 PM | #4 | |
Senior Member
Join Date: Jan 2006
Posts: 5,084
|
Quote:
|
|
09-25-2007, 07:06 PM | #5 |
Senior Member
Join Date: Aug 2005
Location: Norcal
Posts: 5,821
|
I think you guys need to turn your sarcasm detectors on.
|
09-25-2007, 08:07 PM | #6 |
Senior Member
Join Date: Jan 2006
Posts: 6,177
|
|
09-26-2007, 04:59 AM | #7 |
Senior Member
Join Date: Aug 2005
Location: Norcal
Posts: 5,821
|
I'm saying ParrotHead wasn't seriously asking for advice. Or maybe he was and I just always assume he's sarcastic.
Last edited by SteelBlue; 09-26-2007 at 05:08 AM. |
09-26-2007, 05:50 AM | #8 |
Senior Member
Join Date: Aug 2005
Posts: 763
|
Yes, seeing those proposed returns catches your eye, but if you look at some of those stories, they look like sub-subprime. And how bad are some people's scores if they're willing to pay 20% + to consolidate?
First, folks, stop spending money like you have it - because you don't!
__________________
Oh, he's very popular Ed. The sportos, the motorheads, geeks, sluts, bloods, waistoids, dweebies, dickheads - they all adore him. They think he's a righteous dude. - Bronco, when asked how to describe PH
|
09-26-2007, 04:33 PM | #9 |
Senior Member
Join Date: Jan 2006
Posts: 6,177
|
|
09-27-2007, 12:57 AM | #10 |
Senior Member
Join Date: Aug 2005
Posts: 1,817
|
I have a neighbor that has done it. He does not loan out large amounts of money, usually in the $500 range...he says that he has done about 6 different deals and he has been paid back on every one of them. From what I understand, the thing that helps is he is able to be very, very picky on who he chooses to loan out the money. Not every loan is 24%...some of them are as low as the 10% range depending on the guy asking for it and his credit history. He has enjoyed doing it.
And yes, Parrot, I am still considering the $7,000 loan that you need financing for...I feel bad though that it has a 33% interest rate on it--man, your credit stinks. Give me a bit more time though and I will sign up to help ya. |
Bookmarks |
|
|