Hi everyone,

I have found a site, actually found it a while back and have been following it a while, Prosper: The online marketplace for people-to-people lending - Prosper.

I am wondering if any of you know about it? If you do, I would welcome feedback about the site.

I have signed up and verified all my information on the site. They are a US company that only allows US residents. It is a site where you can lend money to borrows or you can borrow money from lenders. I would suggest you check it out. This is not a get quick money machine, it is something however that you could earn some extra money over time, or possibly use the site for a loan to get your finance straight. I have created a group that you are welcomed to join, and then we can learn somewhat together exactly what this site is all about. Here is the Group URL.

https://www.prosper.com/public/group...short_name=ASM

Thanks guys and gals, lets have some discussion about it...

Mud

I did join the site and your group Mudlucky! Thanks for the invite

I hope to eventually use the site to pay off some high interest credit card debt with a lower interest rate.

Thanks Slinger...if you have any questions, let me know and I will get the answers.

Mud

Hey Mud.

Send me an e-mail and REALLY tell me what this is about. Details, (how you found it, have you used it, know anyone), that kinda stuff. I don't have a lot of cash and I really don't need any, but from just skimming it, it looks like something I want to know more about.

Thanks,

2Below

2below,

I will email you tomorrow. I had to work all day today, and it has been a long one.

Mud

Could you CC me on that e-mail, too? Thanks!

It looks to me that if a group of people work together and keep a clean history, might be able to make some good cash working along side one another. It is quite the interesting site to be honest.

2below and kfunk,

You have mail.

Slinger,

I think you are right. The key is getting a good group of people together to support one another and to help find the good loans and to help avoid the bad ones, at least as much as is possible. Also, if one of us want to get a loan, we have enough "friends" around us to help encourage others to loan to one of us. Keep in mind, by being in a group, if we have a loan that gets filled out of our group, if it is paid, we as a community look great. If it is not paid, we as a community look really bad. We want to look good so that we can continue to do well. So being selective will be VERY important as to what loans we allow to be placed on prosper.

Anyway, everyone keep looking at it and see if it is worth time and effort. I am leaning toward it is worth it, but I admit, I may be missing something. I am trying to be very careful with this online experience....you know, use a bit more caution than I have in the past.

Mud

So far it looks like something we might be able to pull off. I will keep reading. Let me know when the club house will be open for further discussion.

I have joined and deposited a couple hundred bucks to try it out.