Prosper

[MidnightVoice]

Hi there and welcome. I know a site similar to this has been running in UK for quite some time, and has been very succesful, with a very high repayment rate

[Tuscani]

I believe the Inq they pull is just a soft to. At least is was several months ago.

[ariesdreamer]

Is it possible to get a loan if your fico score is in the mid 500s?

[SmartCookie]

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ariesdreamer wrote:

Is it possible to get a loan if your fico score is in the mid 500s?

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There are people I see there that are very high risk that are getting bids.  All depends on who wants to invest (bid) on them, and how much.

[Anonymous]

Thanks so much for the detailed information. If I get a $10000 loan from Proposer. Will be be reflected in my Credit Report? Does it show on my credit report that I have an additional debt of 10000?

Thanks so much. We are trying to get a house and want to consolidate our debt. But we fear that if we take another loan for consolidation it might negatively show on our credit report.

Regards,

[SmartCookie]

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rmjeeves wrote:

Thanks so much for the detailed information. If I get a $10000 loan from Proposer. Will be be reflected in my Credit Report? Does it show on my credit report that I have an additional debt of 10000?

Thanks so much. We are trying to get a house and want to consolidate our debt. But we fear that if we take another loan for consolidation it might negatively show on our credit report.

Regards,

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They do report both positive and negative.   http://prosper.com/help/topics/start-faq.aspx

[Anonymous]

If your FICO score is too low, Prosper will not permit you to join as a borrower.

One of my clients had a FICO score of 534 and Prosper would not allow her to post a profile for funding.

[Anonymous]

Prosper still pulls a soft credit report. However, the ExperianScore plus system leaves little to be desired.

I was listed as High Risk with a 0 DTI ratios. I had a couple of lender's contact me inquiring about the $19,000 worth of charge-off that was listed. The only problem, I don't have $19,000 in charge-offs and it was difficult to get that point across to Prosper.

Fortunately, I had an "angel" that trusted that my statement was true.

In the meantime, an associate with an Experian FICO of 660 was given a AA rating through Prosper.

[SmartCookie]

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Xavier wrote:

Prosper still pulls a soft credit report. However, the ExperianScore plus system leaves little to be desired.

I was listed as High Risk with a 0 DTI ratios. I had a couple of lender's contact me inquiring about the $19,000 worth of charge-off that was listed. The only problem, I don't have $19,000 in charge-offs and it was difficult to get that point across to Prosper.

Fortunately, I had an "angel" that trusted that my statement was true.

In the meantime, an associate with an Experian FICO of 660 was given a AA rating through Prosper.

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Clarifies an important point.. FICO doesn't matter with Prosper as they use a pull ScoreX PLUS and grade accordingly .  

Glad you had a good experience with them... did you get the erroneous charge offs removed?  

[Anonymous]

Question for all of you on this one - I have done payday loans for a few years now and it's because of bumps in life, but since 10/02, I have not had a late on any CC or auto loan.  I was late prior to this due to transition of divorce; and during marriage, credit not good, hubby didn't like to work

My question is, I do not want to pay the high fees anymore; I have a roommate, his work is not as steady in the past year; and I was unemployed last summer while trying to start my own business; ended up getting a permanent job again but had to play catch-up.  I want to know that no matter WHAT, I can rely on myself; I now work 2 jobs when my kids are with their Dad and wonder, would anyone on prosper consider a loan???

I have one baddie yet on my CR that is reporting the account twice on one CR, I keep disputing, now the CRs are calling me frivolous because who knows why!

And one baddie that got me by breaking the law (my rights anyway); they got a default judgment against me; wiped out my account, and I made it all up by the grace of God, but that company is reporting "paid less than full" - they just started reporting this statement one year after the judgment was paid for TWICE the legal amount (it was a JDB); anyway, I'm now fighting that one - because anyone with a calculator can ADD I paid twice...sent the copy of judgment satisfaction too; but they haven't removed their statement.  It had been deleted by CRs back in 2005 when I disputed...

Any thoughts?  I'm guessing because of the double reporting, I might hit the HR section...I have a tax lien, and have prepared a good statement justification for the reasoning as instructed by my home buying instructor.  Wanted to be home with my young children when they were with me (every other week) so now I am coordinating a payment plan with them.

Thanks for any advice on this, as I said, I'd rather pay someone some interest but NOT the kind of interest I have been paying.  If I had $5k I could pay off all debt, save for the taxes.

Thanks again for listening and any advice!