Jun 23rd, 2008
Own a piece of me (literally) and get a great return
I have posted a loan application on prosper for a 16% rate: pretty sure bet considering I am putting it up on my blog as a matter of insurance for people. Long story short the debt I collected while unemployed has been transferred around to 0% interest credit cards and opening accounts + revolving credit + inquiries (to do transfers) has hurt my credit score…down to about 700 plus score, and 678 on the lender scale. So I need all of you guys help to get my credit score up by transferring that revolving to a fixed loan . Sign up with the link on the left and then go here:
http://www.prosper.com/lend/listing.aspx?listingID=327147
and fund my loan. You get free $25 just for signing up there so you get to lend me money AND get free money. Ive got some great posts coming this week, just need the time to finish them off and post them. Thanks for the help guys, and drop me an email if you decide to do it, Id love to see who all out there is helping!
- 9 Comments
- Debt
Hi, I have been a Prosper lender for a year now and discovered your blog when your loan came up in my search results (I really like your blog!)
I will be bidding on your listing when my funds are freed up from a current bid that looks like it won’t fund (that will be sometime tonight). Unfortunately, it looks like you are off to a slow start and I’m left wondering whether or not yours will get fully funded!
I think you should’ve posted this invite to your readers earlier because for a new Prosper lender, the sign-up process is quite lengthy. If I remember correctly, signing up, verifying a bank account, and transferring money can take a few business days - which is all your listing has left before it expires!
If it doesn’t fund, you should re-list and hopefully give earlier notice to your readers so that they can sign up, get the free $25 and bid on your loan in time!
Best of luck to you!
P.S. Have you ever been a Prosper lender or considered lending on Prosper (even if its a ‘down-the-road’ idea)?
I would recommend going to a credit union and geting a personal loan, you can do a lot better than 16%, unless you are counting on referrals to make more money…
Thanks for the comment! Indeed, it probably won’t get there this time, I was slow about getting a post up. Dang “real” job has been ridiculously busy. I am definitely going to relist this week if things dont go down fast enough, probably on thursday.
Well, there are several prongs on this:
1) I like to support p2p lending
2) Referrals would be great, and I have a good amount of steady readers
3) That is a second option, yes.
Ouch, no wonder why you aren’t getting many bids.
Prosper estimates the loss at 5.17% (on a 16% bid) based on past performance of loans with similar criteria. Obviously those borrowers didn’t run personal finance blogs and such, but I think thats a pretty sure-fire way to deter bidders from your loan. It even has an ‘Are you sure?’ screen before you bid, pointing out the estimated negative return..
I bid $80 (just about all I have in cash in my account).
Good luck!
I am in for $50 on RateLadder’s endorsement. I also like to support a fellow blogger. Good luck with your loan - I know you won’t let your lenders down.
Why did you turn down the first listing on Prosper which was fully funded at 9%?
Sorry you didn’t make it… We knew we were fighting an uphill battle with this listings… Make those adjustments we talked about and let me know when the listing goes live so I can bid early and often.
@ TJG: On his listing, we see:
”
Q: Why did you withdraw your previous, fully-funded loan from February? -nature_girl
A: Yes I did. Decided against it at that time, was kind of dabbling. Now its sort of imperative (Jun-22-2008)
”
I wouldn’t think lenders care for borrowers who “dabble” with the lenders’ bids. Or maybe that’s just me…