Ok, so back in 2007 I was told about this company called Prosper that would REVOLUTIONIZE the way we do banking. It would be the eBay for loans. I signed up and took out a $1000 loan. I also loaned money to two different people.
One of the main ideas of this site was that people would be less likely to default on loans made to them by other "real people" instead of an insured bank. Guess what... that did not pan out. I had one guy not pay quite a few time but he is back up. The one that bugs me is the professional looking ad that had all the right credentials and was supposed to just be a "bridge loan" and then they pay for part of a year and bam, bankruptcy!
Ok, so... I have religiously made payments, Even through their "quiet period" (check the internet for the full story on that but it was scary). I have delayed making the payoff just so it shows on my credit that I have made the payments, I have very little left on the loan. I applied for another Prosper loan and they say I dropped too many points from my last loan to give me a new one. So I call up and am told that my credit is excellent except I have not paid off the last loan... WHAT!!!!! So now if I pay off this current Prosper loan I still would have to wait 30 days to even apply for another one... Guess what moron Prosper, I need the money to buy a car and the car will not be there a month from now.
This is my LAST loan through Prosper and I am going to make sure and tell EVERYONE to avoid this place like the plague. If you loan out money to Prosper expect to get screwed out of half of it, if you borrow, expect Prosper to screw up your credit.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment