Faith in Fellow Humans?

I came to Prosper after reading an article about this strange concept of borrowing from and lending to people … not banks. After a little more research I decided to jump into it feet first with a whopping $50.00 to be lent to anyone who needed it. Well, anyone with an “A” or better rating.

Then, I read the story of a “B” borrower that struck home - sounds like me many years ago. I remembered that I needed just a little help and got it… it changed my life and made my belief in the human spirit stronger.

Today I am still lending on Prosper - sometimes only $50.00 and sometimes a little more - but I am still here. So are the many borrowers and lenders who count on Prosper to continue to “prosper.”

I watch many borrowers who consistently pay on time - my thanks to them. I am also watching my first borrower whose loan is now in collections - and wonder what happened to this “AA” borrower. Life plays tricks on us sometimes, but it is up to us to make life what we want it to be.

In any case - I will stick with this plan as long as I find it of value to me and the many others counting on the combined community. Thank you Prosper for letting me become a part of this great family. In a way this is my limited approach of giving just a little bit back to my brothers and sisters out there.

My Thoughts On Prosper

By Tom

I think Prosper is such a great way for people that are stuck with the Pay Day loans to get help and stop the cycle they are caught in! Even those high Interest credit cards can be worked down by a Prosper loan if the borrower is careful NOT to run the credit cards back up. The important thing for the lenders to do IS cut the cards up once they pay off the cards with their new loan BUT don’t close the account! By having used credit that will help your credit score! UNUSED credit is a very good thing to have. I have started a group that will be open to everyone once Prosper allows it and I hope my first loans are good ones. Well good luck to all here!

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By Prosper Blog on 01/22/10 [ ]

by Colin Henderson, Chief Technology Officer, CommunityLend
The original vision for peer-to-peer lending was formed at a time when internet models were evolving from web sites to social interactions. The notion of wisdom of crowds and the ability of a larger group to prepare better decisions than discrete individuals was prevalent. Prosper to their credit took [...]

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