Anybody lent money through http://www.prosper.com/ ?
 

Sounds like a good idea and I remember them from a few years ago so they have been around a while...


http://www.prosper.com/

I was looking into it before, but it looks like too much drama reading each story, making bids, etc... do they have an option where you send them some dough, and they do all the bidding, etc for you?

I did, not a lot just a couple thousand dollars. That was 3-4 years ago.

I wouldn't lend shit in today's economy. More and more people are going default, even people with great credit scores are going default for the first time.

And the couple of thousand you lent, did you get paid back ? What interest rate did you get ?

It varies, you decide based on your risk tolerance. I went with 10 - 15% rates with mostly A- to B rated people. So people who had little to no credit issues in the past and had an ok dti. I think I broke even. Of the 10 or so loans I did 4 of them went default at varies stages of repayment. This was started about 3 years ago. All of the loans now have been repaid or went into collections and I got nothing. I wouldn't touch lending money to the public right now if the person had perfect credit even for 15% return. Way too risky. A lot has happened in the last 3 years and these type of loans are not secured and will be the first to go into default when people lose their jobs or get in over their head.