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A Prosper.com spotlight: How Leonard paid down his credit cards for good

by Prosper on 08/1/12


We blogged last June about how debt consolidation works – and this week we’re turning the spotlight to Leonard C., a Prosper.com borrower who successfully simplified his debt.

Realizing he had “too many payments every month”, Leonard used a $10,000 Prosper Loan to pay off his credit cards. He points to two reasons for turning to Prosper for a personal loan:

  1. Simplicity. Keeping track of multiple credit cards with outstanding balances is difficult and time consuming. Exchanging them for a single fixed monthly payment helped to reduce financial stress.
  2. Community. Leonard didn’t have to walk into a bank to get his loan. In his words, Prosper’s peer-to-peer lending community “made [his] decision to borrow much easier”, adding that “lenders know what borrowers are going through”.

We think Leonard’s story is really heartening – and he is just one of thousands of borrowers who have used a Prosper Loan to take their first steps towards tackling their debt.



posted in Borrowers,Featured,Prosper Spotlights 4 comments »

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Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.