You did clarify it and thank you it makes more sense now. I also can confirm that it is an even worse idea then I thought. I hate lending anyone money and three years is too long to wait. I look at this like gambling.

I doubt several loans are a great investment for anyone. The way to get out of debt is not to get into anymore. I am not sure if these sites are pyramid schemes, but it sounds like a sales approach. People need to be much more conservative with their spending and what they are willing to explore.

Just wanted to briefly clarify that Prosper and sites like it are for lending between individuals and I think what the posters above are referring to, when they say they are interested in lending is that they are actually investing funds on the Prosper site that is used for OTHERS to borrow. This has actually been reported about in major news media as the new way for people to borrow. If you lend to people on those sites, you actually bid to lend to them in small amounts (I believe the minimum is often $50) with other folks and then the money is paid back to you over a term of 3 years based on whatever rate is bid. Sorry for the convoluted post... it's really an interesting system and it isn't MLM, pyramid or anything like that. Google Prosper and you'll see what I mean.

I think it's an interesting way to invest money (speaking as someone who would be interested in loaning to others - NOT in borrowing), but you have to keep in mind the risks because there can be defaults on it as with any borrowers and you have to keep in mind that it will be paid back over three years.

I hope this helped clarify what sites like Prosper are.

I doubt several loans are a great investment for anyone. The way to get out of debt is not to get into anymore. I am not sure if these sites are pyramid schemes, but it sounds like a sales approach. People need to be much more conservative with their spending and what they are willing to explore.

Good point Sophie, this is probably a kind of MLM scheme; anyway when some one offer credit to people with poor credit, the interest rate will be very high.

I doubt several loans are a great investment for anyone. The way to get out of debt is not to get into anymore. I am not sure if these sites are pyramid schemes, but it sounds like a sales approach. People need to be much more conservative with their spending and what they are willing to explore.

Hi, I just wanted to let you all know, that the Prosper site Meya talked about, I have now been approved as a Lender, and am starting a Portfolio of "loans". I have 1 Loan I have done so far, one I am bidding on and more money I am transfering over to Prosper. I think once I get several loans going that it will be a great investment for me. I hope.

I am interested in making some loans on Prosper.com. It would be great to know I'm helping someone out while making a little extra for my efforts. Has anyone had good or not so good experiences with Prosper?

Keep us posted with the results. Way to go buddie.

Hi, I just wanted to let you all know, that the Prosper site Meya talked about, I have now been approved as a Lender, and am starting a Portfolio of "loans". I have 1 Loan I have done so far, one I am bidding on and more money I am transfering over to Prosper. I think once I get several loans going that it will be a great investment for me. I hope.

Hello to all,
Anyone ever heard of HSBC? They keep insisting I am a month behind (mind you, they've been saying this for a year now) despite the fact that I have proven to them I am not.

Make sure that you follow up on this. I wouldn't be surprised if there are fees associated with this if they think you are currently behind.

Regarding your situation, how does your financial strength, debt and unecessary expences look?

Welcome to the Network, we are so glad you joined us. Check out the resource link that FG has provided for us, they may some good insde tips for you. I know that someone will post some information for you in this thread so please be patient what ever you do. It may take a while because the Network had just open a few weeks ago and eveyone is still transfering over from the review board. A lot of members here work through the day, but they do stop in to watch for postings like yours. You will get an answer faster than what you think, just wait and see.


Ewww so sorry for your job loss!

In the meantime, I believe Paula should be able to help you on this one. I have heard of HSBC but only through credit cards. I am not familiar with the mortgage issue. Send Paula a message and see if she will be of any assistance for you. Oh one more person, try Sally, she hs some good info about mortgages also.

Hello to all,
I just joined this website. I'm looking everywhere. I have a pretty, really, lousy, financial situation. I saw the fundraiser site. I wish I had $27.00 to spend. Every penny I have I dump into my mortgage. I really don't want to lose my house. I had pretty good credit before I got my mortgage and then things went down hill. I think I may have the worst mortgage company on the planet. Anyone ever heard of HSBC? They keep insisting I am a month behind (mind you, they've been saying this for a year now) despite the fact that I have proven to them I am not. I need help. If anyone knows anything that would help I would greatly appreciate it. I'm ready to start looking for some rich guy to marry and I'm a l***I already work two jobs in the mental health field. I'm fried. Help!

Hi Tee, I forgot to mention something to you. The information you gave is very helpful and appriciated but I forgot to mention that all URL's or links are to be posted through the Resources tab on your left. Recopy this link over to that section, make sure that you click Resources, My resources, and insert it into the appropriate slot. This is a great tool for us, becuase we can store all of our resources in a file that belongs to us (others can still see and retireive) and we won't have to tell the next person, "Oh I had some valuable information about this particular topic and a link to go with it, but I just cant remember what topic I put it under". All we have to do is send that individual to our resources and they can retrieve it from there. They know your name so they dont have to go through Tom, Nick, and Harry to find it.....Lol! Isn't this great!

Nice and tempted site. I have heard something else which is similar called prosper.com but I have never taken the chance to go further into details with it. On this site, how does it work? Is it soemthing like a pyramid, or a loan conributed by others who offer you advanced cash to an account that is financed by the controller of the site? I was just asking because prosper is something like that.

Hi,

I am new to the site, and happy to be getting in on this new adventure. So many out here can use advice and direction when it comes to finances.

I wanted to take an opportunity to share a program I found for those who are looking for funding, whether it be business or personal. This is a wonderful opportunity to help yourself without qualifying or good credit. Take a look and see what you think. Hope it helps someone.

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