Prosper

[Anonymous]

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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?  

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I am feverishly working on getting the erroneous charge offs removed. Providian listed the same  account twice on my CR which accounts for $11,000+ of the charge off amount and I have 4 Cap One cards being reported -- I had 2 Cap One cards in 1998 which were both settled. The errors are so obvious, yet I am on month 3 of the dispute process.

[Anonymous]

for those of you wondering if your loan will get funded on prosper...

like i said i am a small-time lender; i only have about $260 invested over this past year. when i have some extra money to invest, i actually read through the listings and i tend to fund people who:
- have a well-thought out plan
- seem honest (they are willing to explain their baddies--explanations seem logical/truthful)
- say they want to use the loan for a good reason (nothing that is IMO frivolous or unnecessary--like an overpriced wedding or the people who say they want a loan to "reinvest in prosper").

so based on that criteria, i think i would fund you but i can't say that my way of using prosper is the norm. i say go for it, though.

[Anonymous]

To add this - if you are wondering if you will get funded, first you need to apply and get a rating from Prosper. As I mentioned in an earlier post, if you credit score is too low or your information could not be verified Prosper will not allow you to borrow.

I tend to invest in people who belong to strong groups. The reason being, if a group member defaults on a loan the group leader is notified by Prosper. In some cases, a group will elect to make the payments to keep the group's status from being affected by a weaker member.

[Anonymous]

I sincerely appreciate the information.  I am so tired of the high, high fees; have learned some tough lessons and think about the "future" now with every step I take.  Just wish I would have read the high car loan, so I am determined, I'd rather have one payment, the car would be mine, and my score would work it's way up higher to where I'd finally get that house for the kids.

I have no problem being open & honest; and I'm not someone who just refuses to pay bills; everyone has a story

I'll research the "group" thing and the website tonight and go for it - hopefully, I'll get lucky - I have zero problem doing auto pay every check I get, it's the easiest way and I'm thankful there are possibilities out there that will take payments this way.

Thanks a bunch!

[mizzcharles]

prosper seems really cool. my fico is 530 they req. 520 or higher score but they use experian. my experian is low compared to fico. so  i was denied but i will try to work on my score. they seem really people friendly.