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jj15 wrote:
Well, with my scores, what's my best bet?
I will fess up, I am a lender at Prosper, so here is my advice.
Depending on how well you grade-out with Experian's Scorex Plus model (Prosper does not pull FICOs), you might be able to get a loan with Prosper. I recommend you be VERY forthcoming if you list over their. Explain all of your bad stuff, give a very clear and concise breakdown of your after tax monthly income and expenses, answer all questions lenders ask of you PUBLICLY (no PMing), explain exactly how the money will be used and post a pic of yourself or a pet. Prove to the lenders you are capable and willing to repay the loan. If you grade-out at D or better, a 5K loan is certainly possible, worse than D, do not list for more than 2.5K. Also, expect to pay a high APR if your loan funds. Look into joining a group that will help you with your listing. They might require verfication of certain things, but they can also help you with endorments and funding your listing.
I am also a lender over at prosper. So to your answer... YES it is legit.
fused wrote:
jj15 wrote:
Well, with my scores, what's my best bet?I will fess up, I am a lender at Prosper, so here is my advice.
Depending on how well you grade-out with Experian's Scorex Plus model (Prosper does not pull FICOs), you might be able to get a loan with Prosper. I recommend you be VERY forthcoming if you list over their. Explain all of your bad stuff, give a very clear and concise breakdown of your after tax monthly income and expenses, answer all questions lenders ask of you PUBLICLY (no PMing), explain exactly how the money will be used and post a pic of yourself or a pet. Prove to the lenders you are capable and willing to repay the loan. If you grade-out at D or better, a 5K loan is certainly possible, worse than D, do not list for more than 2.5K. Also, expect to pay a high APR if your loan funds. Look into joining a group that will help you with your listing. They might require verfication of certain things, but they can also help you with endorments and funding your listing.
@fused wrote:I will fess up, I am a lender at Prosper, so here is my advice.
Depending on how well you grade-out with Experian's Scorex Plus model (Prosper does not pull FICOs), you might be able to get a loan with Prosper. I recommend you be VERY forthcoming if you list over their. Explain all of your bad stuff, give a very clear and concise breakdown of your after tax monthly income and expenses, answer all questions lenders ask of you PUBLICLY (no PMing), explain exactly how the money will be used and post a pic of yourself or a pet. Prove to the lenders you are capable and willing to repay the loan. If you grade-out at D or better, a 5K loan is certainly possible, worse than D, do not list for more than 2.5K. Also, expect to pay a high APR if your loan funds. Look into joining a group that will help you with your listing. They might require verfication of certain things, but they can also help you with endorments and funding your listing.
@llecs wrote:I've never been to Prosper, but couldn't you get lower rates at a bank or CU for the same type of loan? Also, what happen if a borrower defaults? Are you out $$$?