A Prosper loan I can get behind….
11th June 2006
Tricia at Blogging Away Debt has a listing up on Prosper for $3,500. The listing number is 18825.
While I don’t know her personally, I believe her story. She is very forthcoming on her blog and has kept an up to date status of her progress against her credit card debts. Between her blog and the listing itself I believe her to be sincere and able to pay this off.
Quick note of warning, the DTI on this loan is high (24%) but I don’t consider it too much of a risk. She has some of my money and for the first time I may put in more than one bid on a loan. It is loans like this that made me become a lender in the first place.
June 11th, 2006 at 12:53 am
Wow, thank you so much for bidding and thanks for linking to my posting!
One thing I will note, and I’m working on writing a post about this, is that my household DTI is actually closer to 50%. Prosper does not take into consideration mortgage payments (but I do - it’s debt, right) and because the loan is only on myself…it doesn’t include my husband’s debt.
Thanks again!!
June 11th, 2006 at 12:58 am
Although I have only recently discovered Prosper.com, I think it works best when people do what you are doing. If I had enough money where I could risk loaning money to people, I would bid on a few loans.
Maybe some day, right?
June 11th, 2006 at 9:25 am
I would assume because your incomes are somewhat low compared to the debt you have. Looking forward to helping you get that down in my own small way.
June 11th, 2006 at 9:27 am
MollysBrother -
Being able to make a return on an investment while feeling good about it is exactly why I got into Prosper in the first place. I think I strayed a bit from that premise because there just are not enough loans out there like Tricia’s.
June 14th, 2006 at 6:03 pm
I was going to write you an email, but I can’t seem to find one. I just wanted to say thank you so much for supporting my Prosper loan. It is fully funded with two days left to go
My husband and I are making bets on what my credit card is going to offer once the balance is zero (since just in February it was $23,000) - hehe.
June 14th, 2006 at 10:55 pm
Email is mypfblog at gmail dot com, I should probably put that contact form up I’ve been meaning to do…
You’re very welcome. I actually got outbid and had to put in another.
Depends on the credit card. Chase seems to pause for a month after I pay off a 0% balance then come back with another one.
June 20th, 2006 at 1:01 pm
This Prosper.com is very interesting. I had a chance to look at the loans in the offering - I now plan to give it a try … but in October. I’ll have a “watch” on how you are doing and hope it will be good. Grandma Dolores
July 15th, 2006 at 12:48 pm
[…] My Personal Finance Blog […]