Thread: Who wants to purchase my cc debt for 10%?

I will definitely check it out on the TMF board before I take any action. If there's ever an occasion for completing due diligence before investing, it's loaning through Prosper. Nancy

I won't spoil it for you, but when you talked about the day you'd have sold her it rang a bell. Ha! It's available on the web in its entirety here: http://www.online-literature.com/o_henry/1041/ You're right, Nancy, I loved it.

Black Market for healthy American kids.... :)

Thanks again Nancy for the heads up relating to Prosper. I thoroughly researched the credit worthiness of their borrowers and the average default rate and I concluded that Prosper "ain't for me"! As one the TMF Prosper lenders stated .... I can find many other places to lose money AND have fun !!! Rich (a wee bit smarter now)

Either can be a problem.

Oh, if only someone would come by and offer to purchase my debt for 10% I would be a happy camper! Anyone else willing to dump their favorite banks for a chance to give up those high interest rates? There seems to be no rhyme or reason as to who is getting slammed with higher rates and it is accelerating now that February is drawing near. All the Fed Regs did was hasten the slaughter. *sigh* Just had to vent. Thanks for listening. Donna

<<Oh, if only someone would come by and offer to purchase my debt for 10% I would be a happy camper!>> So what did you spend on to acquire that debt and how much of it was spending that seems worthwhile NOW? Seattle Pioneer

I'm a recent prosper convert. I don't know how much debt you have but there are lots of folks refinancing out of a CC and into other debts. Check it out. http://www.prosper.com . YMMV

That's a very interesting website. Would you kindly tell us if you had much experience with Prosper either as a lender or borrower? This is a new avenue of earning interest income for me and probably many other Fools. Thanks There is a Prosper board on this website. You will find that most of the people ended up disappointed with Prosper. I'm not sure anyone came out ahead. Prosper is just gambling without the free drinks. PSU

Prosper is good for borrowers. Since I have no intention of lending through them, I haven't followed it closely. The default rate on loans is extremely high. The recent games by the credit card companies might improve the quality of the average borrower, but it is a very risk. http://www.mymoneyblog.com/archives/2008/03/prosper-p2p-lend...