Comments on: Prosper.com - A Good Place To Consolidate Credit Card Debt? http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/ Bridging the gap between saving money and investing Fri, 29 Aug 2008 21:46:07 +0000 http://wordpress.org/?v=2.6.1 By: Journey To Financial Freedom » Carnival Of Debt Reduction #23 http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/#comment-848 Journey To Financial Freedom » Carnival Of Debt Reduction #23 Mon, 20 Feb 2006 13:09:34 +0000 http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/#comment-848 [...] Jeffrey Strain from Personal Finance Advice - Proper.com - A Good Place to Consolidate Credit Card Debt? [...] [...] Jeffrey Strain from Personal Finance Advice - Proper.com - A Good Place to Consolidate Credit Card Debt? [...]

]]> By: pfadvice http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/#comment-789 pfadvice Wed, 15 Feb 2006 00:32:19 +0000 http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/#comment-789 I think it depends on how the group is formed and time will start weeding out groups that have been set up merely to generate money - becasue those groups will likely have some defaults making it costly for people in that particular group to borrow. Groups that are set up by true group entities I think can lower the risk of default by that "peer pressure" if you know all the people in the group. I kind of view it like feedback on ebay. You can't trust it completely, but looking over the history of the feedback (in this case group) you can get a sense if it is trustworthy or not by the length they have been around and the number of borrowers who paid back the loan in full. It will be interesting to see how it all sorts itself out...while proper has a head start, when Zopa USA goes live, it will be interesting to see which one has the better model. I think it depends on how the group is formed and time will start weeding out groups that have been set up merely to generate money - becasue those groups will likely have some defaults making it costly for people in that particular group to borrow.

Groups that are set up by true group entities I think can lower the risk of default by that “peer pressure” if you know all the people in the group.

I kind of view it like feedback on ebay. You can’t trust it completely, but looking over the history of the feedback (in this case group) you can get a sense if it is trustworthy or not by the length they have been around and the number of borrowers who paid back the loan in full.

It will be interesting to see how it all sorts itself out…while proper has a head start, when Zopa USA goes live, it will be interesting to see which one has the better model.

]]> By: lizriz http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/#comment-788 lizriz Tue, 14 Feb 2006 23:43:36 +0000 http://www.pfadvice.com/2006/02/14/prospercom-a-good-place-to-consolidate-credit-card-debt/#comment-788 Hi, I'm wondering what you think of the whole "group" thing on Prosper... it just kinda seems silly, although I could see it potentially working. Hi,

I’m wondering what you think of the whole “group” thing on Prosper… it just kinda seems silly, although I could see it potentially working.

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