2007-07-13 19:55:01 · 3 answers · asked by rec girl 4 in Business & Finance ➔ Credit
I haven't heard anyone actually getting a loan, or making a loan through this.
The only thing I see is people earning referral fees from signing people up hoping to get a loan.
To me - it reeks of a scam.
2007-07-13 19:58:42 · answer #1 · answered by Mike Frisbee 6 · 1⤊ 7⤋
It is legit.
While I'm sure there are some groups like the first poster mentioned, there are many legitimate groups on the site.
If you are asking because you want to list a loan --
You do not really have to join a group, especially if your credit history is in great standing. If your credit history is not that great it probably would be in your best interest to join a group so the group leader can vet you to the lenders.
Before joining a group you should do your homework on any group you are looking at. I wouldn't recommend joining a group that demands leader rewards, the group you should join should be one that has no leader rewards and is 100% group shared rewards. (also, don't let the stars next to the names sway you)
You also might go to the Prosper Forums and do some reading. Learn more about the group leader, see how hard he/she works for the members.
You might also do some reading, in the forums, on how to write a listing, etc. and read through some actual listings.
If you are asking because you want to become a lender, I would still recommend that you do some reading in the forums.
2007-07-13 21:42:19 · answer #2 · answered by echo 7 · 2⤊ 0⤋
If it looks too good to be true, it is too good to be true.
A fool & his/her money are easily parted.
In the end you will pay dearly for your greed.
2007-07-14 07:35:22 · answer #3 · answered by Mr. Blue 4 · 0⤊ 2⤋