Prosper

terps1313

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• #1

I gave this a shot as a lender. Just a few hundred bucks to start. My question is if the loan does not completely fill, will the borrower still have the option of taking what has filled?

 

festeringZit

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• #2

terps1313 said:

I gave this a shot as a lender. Just a few hundred bucks to start. My question is if the loan does not completely fill, will the borrower still have the option of taking what has filled?

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My understanding is no.

 

terps1313

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• #3

festeringZit said:

My understanding is no.

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Thanks. Kinda what I expected. One loan I invested in needs another 40 percent in less then a day. Do things usually heat up at the end, or does this loan look toast?

 

CHOPTALK

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• #4

Just like EBAY, that loan has a very good chance of getting filled.

 

terps1313

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• #5

CHOPTALK said:

Just like EBAY, that loan has a very good chance of getting filled.

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Good deal!

 

RoofTop

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i have invested about 4K with about 50 loans. 15 of those loans have defaulted or claimed bankruptcy. I would advise to stay away from Prosper

 

CHOPTALK

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Give me a link to your loan. I may throw a few bucks on it if I like it.

 

CHOPTALK

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RoofTop said:

i have invested about 4K with about 50 loans. 15 of those loans have defaulted or claimed bankruptcy. I would advise to stay away from Prosper

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You have to be smart about it.
Dont ever loan money to anyone starting a business.
Because if the business fails(more than 50% do)the loan defaults.

So far im batting .1000

 

festeringZit

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• #9

RoofTop said:

i have invested about 4K with about 50 loans. 15 of those loans have defaulted or claimed bankruptcy. I would advise to stay away from Prosper

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I have about the same results. I will not loan any more money
on prosper.

 

terps1313

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• #10

http://www.prosper.com/lend/listing.aspx?listingID=357717

 

terps1313

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OOPS. Oh well only invested 50 bucks.

 

CHOPTALK

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terps1313 said:

http://www.prosper.com/lend/listing.aspx?listingID=357717

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Although this loan breaks my #1 rule of not loaning money for a business, I think you should be OK with that one.

 

CHOPTALK

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• #13

That loan also broke my #2 rule of not loaning money.

Never bid on a loan where they ask for the MAX 25K.

This means that they probably want more money if they could get it, the only reason they are asking for 25K is because thats the most they could get.

Does that make sense?

 

terps1313

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• #14

Yup, thanks for the input.

 

gtc08

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how do you find out peoples credit on this to find out if they are any good or not. someone who lists A credit could be faking, see what i mean?

 

terps1313

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I think they run credit checks on everyone?

 

CHOPTALK

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All borrowers have to file a credit report with prosper.
Prosper will not give away peoples exact credit score because that is private, but prosper is the one that gives each loan its rating.

 

gtc08

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whats a HR credit grade mean, i dont get that label

 

CHOPTALK

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gtc08 said:

whats a HR credit grade mean, i dont get that label

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High Risk

 

terps1313

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• #20

Another loan I funded got over 50 percent really quickly, but has had no action since this morning. Is this normal? If it got over 50 percent that quickly, would you expect it to close?