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Refused by Credit Unions, Yes by Prosper

12/28/07 posted by Prosper Blog    

From the Prosper Mailroom: Lambda_Phoenix_Rising

High MPG Vehicle

196 people who did not know me said YES when my own credit union, where I have been a member since 1979 and major on-line lenders said NO. Prosper members even bid my interest rate down 4% saving me hundreds of dollars over the life of my loan. Signing up was fast and easy and before I knew it my loan was funded.

I have made ten payments over a time period that 5 were due. I’m very excited about being on track to having my 36-month loan paid off in 16 months and improving my credit rating. I am telling everyone I know about prosper.com, including my credit union. Now that the weather is cooler, I’m back in my lumbering gas-guzzler, but the moment it gets warmer I’ll be back on my bike. And what kind of mileage do I get on it? 48 mpg city and 57 mpg highway. (Editor’s Note: The loan was taken to pay for the bike.)

I’ve already sent all of my lenders a thank you note, but I’d just like to thank you all one more time. I could not have done it without you and prosper.com. THANK YOU PROSPER.COM.

Lambda_Phoenix_Rising is a borrower and lender on Prosper.


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3 Responses


Mark12547 | December 28th, 2007 at 9:33 pm

Congratulations, Lambda_Phoenix_Rising!

The best thanks you can give to the lenders who have trusted you is to make timely payments on your Prosper loan.

Best success for the years to come!


Calibarbb | April 7th, 2008 at 11:12 pm

I would like to say Your story is what made me want to post. I have school in about 2 weeks and im a lil over 8000 short.I hae been said NO to everyone sallie mae,every bank under the sun it seems and my own Credit Union. I was feeling very discouraged being that i have no one to co-sign nor help me with my last year. (aid is tapped) But know with a lil time i hope i might be able to make my 3500 goal after.And with that pay early and more than one payment at a time and then also invest back..I have bookmarked this page and thank you for your words of wisdom :)

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