My friend's prosper listing

[fire400]

Originally posted by: Elbryn

Originally posted by: mjuszczak

Originally posted by: apac

Originally posted by: mjuszczak

Originally posted by: MrMaster
Good luck. Having one of the reasons she is a good candidate being she loves her dog makes me frown.

It's sad that people with just as bad of credit history as her are getting lower interest rates because their picture is of an attractive female (whether it's the real person or not). She is looking for a new start, I've been helping her budget and figure out what she can afford and the best way for her to get out of her 1-month-behind track that she's on now. She's trying to avoid having to sell her house. She loves her dog, it's important to her, so she added it.

You may be a good friend of hers, as I assume based on your defense of each of the points people bring up, but the fact of the matter is that when it comes to lending money anonymously the facts are what count. I don't care if she's attractive, unattractive, loves dogs, or hates dogs. Here is what I see from her prosper profile. She

- has bad credit
- is putting herself further into debt
- has a $7500 monthly income and a 16% debt-to-income ratio, but needs to take a $7500 loan? Something doesn't add up right.

As I mentioned, the $7500 includes her husband and her daughter. Her daughter will only help if need be. Minus the $2000 in her daughter's income and then you have a little less than a $1000/mo left over. Does that make more sense? Should I have her relist the listing with that info?

Also, the first $5000 of the loan will immediately go to her being one month behind in mortgage payments. The rest will go to her credit card to consolidate (she has one credit card that is at a very large interest rate that she just wants to cut up).

I guess the best thing I could do is:

- have her relist down to the $5000 she really needs
- re-explain that the money will be used to catch up on the mortgage and the rest will be to pay down credit cards?

i still question why go the prosper route? the situation is not that bad. got a large lump sum that needs to be paid.. has she called the mortgage company and talked to them, they're probably happy to work something out givin the subprime stuff and since she's only 1 month behind. with 5k coming in and a 1k surplus, a few judicious cuts to cable/internet/phone/fitness/entertainment can boost the surplus to 1.3-1.5k. that alone means that in less than 6 months she'd be out of her problems and back in the black. the cc company may also be amenable to reducing rates if you call and ask. i'm not attacking her loan request just pointing out that she could easily get out of this without going through the trouble of adding a 28% loan to her name.

...not everyone took a financial management class. Intelligence and wisdom combined, make you smart.

I'm still pondering this for myself, does this women take herself seriously? I mean, fvck dude, there was a kid saying if 60,000 was enough money and he worked in Minneapolis. but this women makes 90K a year, what the fvck...

7500 a month should be enough to say raise a family on without the other spouse working, and still being able to buy all your kids good meals and nice shoes.

forget it dude, this is totally ridiculous.

 

[ultimatebob]

Originally posted by: Eli
Hmm.. It would be cool to get into lending on Prosper.

I used them to pay down some high interest credit cards a couple of years ago.

What exactly is a delinquency? Is that a missed payment?

Missed or very late payment, yes.

So this is some kind of loan auction?

Yes, and it makes for a good long term investment if you're a lender! I'm making a tidy profit off of loan payments in my Prosper account, and I haven't had any defaults yet. I wish that I could say the same for the mutual funds in my IRA!

 

[manlymatt83]

Originally posted by: fire400

Originally posted by: Elbryn

Originally posted by: mjuszczak

Originally posted by: apac

Originally posted by: mjuszczak

Originally posted by: MrMaster
Good luck. Having one of the reasons she is a good candidate being she loves her dog makes me frown.

It's sad that people with just as bad of credit history as her are getting lower interest rates because their picture is of an attractive female (whether it's the real person or not). She is looking for a new start, I've been helping her budget and figure out what she can afford and the best way for her to get out of her 1-month-behind track that she's on now. She's trying to avoid having to sell her house. She loves her dog, it's important to her, so she added it.

You may be a good friend of hers, as I assume based on your defense of each of the points people bring up, but the fact of the matter is that when it comes to lending money anonymously the facts are what count. I don't care if she's attractive, unattractive, loves dogs, or hates dogs. Here is what I see from her prosper profile. She

- has bad credit
- is putting herself further into debt
- has a $7500 monthly income and a 16% debt-to-income ratio, but needs to take a $7500 loan? Something doesn't add up right.

As I mentioned, the $7500 includes her husband and her daughter. Her daughter will only help if need be. Minus the $2000 in her daughter's income and then you have a little less than a $1000/mo left over. Does that make more sense? Should I have her relist the listing with that info?

Also, the first $5000 of the loan will immediately go to her being one month behind in mortgage payments. The rest will go to her credit card to consolidate (she has one credit card that is at a very large interest rate that she just wants to cut up).

I guess the best thing I could do is:

- have her relist down to the $5000 she really needs
- re-explain that the money will be used to catch up on the mortgage and the rest will be to pay down credit cards?

i still question why go the prosper route? the situation is not that bad. got a large lump sum that needs to be paid.. has she called the mortgage company and talked to them, they're probably happy to work something out givin the subprime stuff and since she's only 1 month behind. with 5k coming in and a 1k surplus, a few judicious cuts to cable/internet/phone/fitness/entertainment can boost the surplus to 1.3-1.5k. that alone means that in less than 6 months she'd be out of her problems and back in the black. the cc company may also be amenable to reducing rates if you call and ask. i'm not attacking her loan request just pointing out that she could easily get out of this without going through the trouble of adding a 28% loan to her name.

...not everyone took a financial management class. Intelligence and wisdom combined, make you smart.

I'm still pondering this for myself, does this women take herself seriously? I mean, fvck dude, there was a kid saying if 60,000 was enough money and he worked in Minneapolis. but this women makes 90K a year, what the fvck...

7500 a month should be enough to say raise a family on without the other spouse working, and still being able to buy all your kids good meals and nice shoes.

forget it dude, this is totally ridiculous.

She has exhausted all other options. She already re-financed the mortgage which gave her a lower interest rate but a higher payment. This was back before her husband's hours were cut because of the economy (he works in a factory).

Trust me, she wouldn't be taking this route if there was another option like calling up the mortgage company and "working something out". She's got the budget in place to make things work, but she needs to get herself caught up on the one month late mortgage so she doesn't keep doing payday loans to pay it. I whole-heartedly see that once she's caught up, she'll be fine, but she needs that kick start and the ability to spread the one month of mortgage payments over a period of at least a few months, or in Prosper's case, 36 months, but I doubt it'll take her that long to pay the loan back.

 

[thepd7]

Originally posted by: mjuszczak

She has exhausted all other options. She already re-financed the mortgage which gave her a lower interest rate but a higher payment. This was back before her husband's hours were cut because of the economy (he works in a factory).

Trust me, she wouldn't be taking this route if there was another option like calling up the mortgage company and "working something out". She's got the budget in place to make things work, but she needs to get herself caught up on the one month late mortgage so she doesn't keep doing payday loans to pay it. I whole-heartedly see that once she's caught up, she'll be fine, but she needs that kick start and the ability to spread the one month of mortgage payments over a period of at least a few months, or in Prosper's case, 36 months, but I doubt it'll take her that long to pay the loan back.

What is her job, her husbands job, and her daughters job. Does her daughter live at home? If she can't pay do you really think her daughter will pay for her?

 

[manlymatt83]

Originally posted by: thepd7

Originally posted by: mjuszczak

She has exhausted all other options. She already re-financed the mortgage which gave her a lower interest rate but a higher payment. This was back before her husband's hours were cut because of the economy (he works in a factory).

Trust me, she wouldn't be taking this route if there was another option like calling up the mortgage company and "working something out". She's got the budget in place to make things work, but she needs to get herself caught up on the one month late mortgage so she doesn't keep doing payday loans to pay it. I whole-heartedly see that once she's caught up, she'll be fine, but she needs that kick start and the ability to spread the one month of mortgage payments over a period of at least a few months, or in Prosper's case, 36 months, but I doubt it'll take her that long to pay the loan back.

What is her job, her husbands job, and her daughters job. Does her daughter live at home? If she can't pay do you really think her daughter will pay for her?

She works with the judicial system in her town. He works in a factory. Daughter works in a bakery. Yes, daughter lives at home and contributes to bills when needed.

 

[alkemyst]

:camera:'s of friend's mother?

 

[fire400]

Originally posted by: mjuszczak

Originally posted by: fire400

Originally posted by: Elbryn

Originally posted by: mjuszczak

Originally posted by: apac

Originally posted by: mjuszczak

Originally posted by: MrMaster
Good luck. Having one of the reasons she is a good candidate being she loves her dog makes me frown.

It's sad that people with just as bad of credit history as her are getting lower interest rates because their picture is of an attractive female (whether it's the real person or not). She is looking for a new start, I've been helping her budget and figure out what she can afford and the best way for her to get out of her 1-month-behind track that she's on now. She's trying to avoid having to sell her house. She loves her dog, it's important to her, so she added it.

You may be a good friend of hers, as I assume based on your defense of each of the points people bring up, but the fact of the matter is that when it comes to lending money anonymously the facts are what count. I don't care if she's attractive, unattractive, loves dogs, or hates dogs. Here is what I see from her prosper profile. She

- has bad credit
- is putting herself further into debt
- has a $7500 monthly income and a 16% debt-to-income ratio, but needs to take a $7500 loan? Something doesn't add up right.

As I mentioned, the $7500 includes her husband and her daughter. Her daughter will only help if need be. Minus the $2000 in her daughter's income and then you have a little less than a $1000/mo left over. Does that make more sense? Should I have her relist the listing with that info?

Also, the first $5000 of the loan will immediately go to her being one month behind in mortgage payments. The rest will go to her credit card to consolidate (she has one credit card that is at a very large interest rate that she just wants to cut up).

I guess the best thing I could do is:

- have her relist down to the $5000 she really needs
- re-explain that the money will be used to catch up on the mortgage and the rest will be to pay down credit cards?

i still question why go the prosper route? the situation is not that bad. got a large lump sum that needs to be paid.. has she called the mortgage company and talked to them, they're probably happy to work something out givin the subprime stuff and since she's only 1 month behind. with 5k coming in and a 1k surplus, a few judicious cuts to cable/internet/phone/fitness/entertainment can boost the surplus to 1.3-1.5k. that alone means that in less than 6 months she'd be out of her problems and back in the black. the cc company may also be amenable to reducing rates if you call and ask. i'm not attacking her loan request just pointing out that she could easily get out of this without going through the trouble of adding a 28% loan to her name.

...not everyone took a financial management class. Intelligence and wisdom combined, make you smart.

I'm still pondering this for myself, does this women take herself seriously? I mean, fvck dude, there was a kid saying if 60,000 was enough money and he worked in Minneapolis. but this women makes 90K a year, what the fvck...

7500 a month should be enough to say raise a family on without the other spouse working, and still being able to buy all your kids good meals and nice shoes.

forget it dude, this is totally ridiculous.

She has exhausted all other options. She already re-financed the mortgage which gave her a lower interest rate but a higher payment. This was back before her husband's hours were cut because of the economy (he works in a factory).

Trust me, she wouldn't be taking this route if there was another option like calling up the mortgage company and "working something out". She's got the budget in place to make things work, but she needs to get herself caught up on the one month late mortgage so she doesn't keep doing payday loans to pay it. I whole-heartedly see that once she's caught up, she'll be fine, but she needs that kick start and the ability to spread the one month of mortgage payments over a period of at least a few months, or in Prosper's case, 36 months, but I doubt it'll take her that long to pay the loan back.

WHAT THE FVCK,

so the family is pulling in six figures all together!? this is so fvcking stupid...

the couple is stupid. the daughter is stupid for not moving out.

this women is stupid in the first place. that much damn money?

okay, this calls for a money management course:

1. live within your means. recommended, live less than your means.

2. pay off all your debt, highest interest first

3. save money and invest wisely.

needs: food, shelther, transportation

wants: figure that much out for your damn self.

amen.

p.s. edit: I don't care what the fvck you do or where you work as far as this goes, over 100K is middle class, 250K+ is upper middle class, borrow money over to people who are barely in debt is as stupid as giving the government free money.

good hell I can't bare the thought of this, if you're fvcken makin' this sh!t up or this women needs to just fvcekn take high school over again. good hell.

 

[thepd7]

Originally posted by: mjuszczak

Originally posted by: thepd7

Originally posted by: mjuszczak

She has exhausted all other options. She already re-financed the mortgage which gave her a lower interest rate but a higher payment. This was back before her husband's hours were cut because of the economy (he works in a factory).

Trust me, she wouldn't be taking this route if there was another option like calling up the mortgage company and "working something out". She's got the budget in place to make things work, but she needs to get herself caught up on the one month late mortgage so she doesn't keep doing payday loans to pay it. I whole-heartedly see that once she's caught up, she'll be fine, but she needs that kick start and the ability to spread the one month of mortgage payments over a period of at least a few months, or in Prosper's case, 36 months, but I doubt it'll take her that long to pay the loan back.

What is her job, her husbands job, and her daughters job. Does her daughter live at home? If she can't pay do you really think her daughter will pay for her?

She works with the judicial system in her town. He works in a factory. Daughter works in a bakery. Yes, daughter lives at home and contributes to bills when needed.

Could you be more specific? A court clerk = good. Lawyer = good. Paper pusher for judge = not great.

Factory what? Building cars is not a very stable job right now, that's something good to know. Works in a bakery as in a cashier? baker (trained?)? Help us out here if you are wanting people to bid on someone with that bad of credit.

 

[manlymatt83]

Originally posted by: thepd7

Originally posted by: mjuszczak

Originally posted by: thepd7

Originally posted by: mjuszczak

She has exhausted all other options. She already re-financed the mortgage which gave her a lower interest rate but a higher payment. This was back before her husband's hours were cut because of the economy (he works in a factory).

Trust me, she wouldn't be taking this route if there was another option like calling up the mortgage company and "working something out". She's got the budget in place to make things work, but she needs to get herself caught up on the one month late mortgage so she doesn't keep doing payday loans to pay it. I whole-heartedly see that once she's caught up, she'll be fine, but she needs that kick start and the ability to spread the one month of mortgage payments over a period of at least a few months, or in Prosper's case, 36 months, but I doubt it'll take her that long to pay the loan back.

What is her job, her husbands job, and her daughters job. Does her daughter live at home? If she can't pay do you really think her daughter will pay for her?

She works with the judicial system in her town. He works in a factory. Daughter works in a bakery. Yes, daughter lives at home and contributes to bills when needed.

Could you be more specific? A court clerk = good. Lawyer = good. Paper pusher for judge = not great.

Factory what? Building cars is not a very stable job right now, that's something good to know. Works in a bakery as in a cashier? baker (trained?)? Help us out here if you are wanting people to bid on someone with that bad of credit.

Her: she's the person who sits next to the judge in courts. She authorizes anything the judge does and has certain powers. I don't know her title, but it's important and isn't just a "paper pusher". Also significant overtime (though she's salaried).
Husband: works in a factory for 10+ years making metal plates. Large demand and significant overtime.
Daughter: Trained @ Pastry School in New York, works at a top notch bakery in the state. Also teaches at a Community College as an Adjunct Professor.

EDIT: Just found out she is a Court Administrator

Hope that's a better description. Thanks for any help you can provide. I'm going to be bidding some more $$$ shortly once the transfer completes.

-Matt

 

[manlymatt83]

bump

 

[imported_Lothar]

30% APR?
I'll be walking away from this one by using "common sense".

 

[manlymatt83]

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

 

[alkemyst]

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

I think he is thinking he is the borrower

He obviously would not be even a lender anyway.

 

[Turin39789]

Good luck

 

[manlymatt83]

I raised my bid another $100 to $400 to try to inspire some others to contribute.

 

[imported_Lothar]

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

The default APR on all my credit cards are nowhere near 30%.

I don't lend to subprime borrowers. Not in this kind of market.
Everything listed on her credit report screams "walk away".

In case you haven't noticed, no one else has but a bid on her loan besides you and it's been up for 3 days now.

 

[manlymatt83]

Originally posted by: Lothar

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

The default APR on all my credit cards are nowhere near 30%.

I don't lend to subprime borrowers. Not in this kind of market.
Everything listed on her credit report screams "walk away".

In case you haven't noticed, no one else has but a bid on her loan besides you and it's been up for 3 days now.

I know, and it sucks, because I know her, I know what she's going through, I know how serious she is about wanting to get caught up, and I'm willing to loan her the money myself knowing she'll pay me back - but I was hoping others would contribute (not necessarily from ATOT)

 

[alkemyst]

Originally posted by: Lothar

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

The default APR on all my credit cards are nowhere near 30%.

I don't lend to subprime borrowers. Not in this kind of market.
Everything listed on her credit report screams "walk away".

In case you haven't noticed, no one else has but a bid on her loan besides you and it's been up for 3 days now.

First, you are hardly a 'lender'...the types that would take this 'bet' are few and far between.

The APR is fair for the risk.

Right now most aren't looking to lend money though...it's more a market thing than the person.

 

[imported_Lothar]

Originally posted by: alkemyst

Originally posted by: Lothar

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

The default APR on all my credit cards are nowhere near 30%.

I don't lend to subprime borrowers. Not in this kind of market.
Everything listed on her credit report screams "walk away".

In case you haven't noticed, no one else has but a bid on her loan besides you and it's been up for 3 days now.

First, you are hardly a 'lender'...the types that would take this 'bet' are few and far between.

The APR is fair for the risk.

Right now most aren't looking to lend money though...it's more a market thing than the person.

According to Prosper, I am.

And if the APR is "fair for the risk", why haven't you bid for it? Why hasn't anyone else bid for it?

 

[alkemyst]

Originally posted by: Lothar

According to Prosper, I am.

And if the APR is "fair for the risk", why haven't you bid for it? Why hasn't anyone else bid for it?

because risking a few thousand bucks is not worth the hassle.

You should have stole WAMU for 1.9 billion yesterday.

 

[imported_Lothar]

Originally posted by: alkemyst

Originally posted by: Lothar

According to Prosper, I am.

And if the APR is "fair for the risk", why haven't you bid for it? Why hasn't anyone else bid for it?

because risking a few thousand bucks is not worth the hassle.

You should have stole WAMU for 1.9 billion yesterday.

Exactly my point.

 

[thepd7]

Originally posted by: mjuszczak

Originally posted by: Lothar

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

The default APR on all my credit cards are nowhere near 30%.

I don't lend to subprime borrowers. Not in this kind of market.
Everything listed on her credit report screams "walk away".

In case you haven't noticed, no one else has but a bid on her loan besides you and it's been up for 3 days now.

I know, and it sucks, because I know her, I know what she's going through, I know how serious she is about wanting to get caught up, and I'm willing to loan her the money myself knowing she'll pay me back - but I was hoping others would contribute (not necessarily from ATOT)

If you are willing to lend her all the money why have you only bid $400? If you KNOW she will pay you back you should be bidding all $5k at 30%, that's a ridiculous return.

 

[alkemyst]

Originally posted by: thepd7
If you are willing to lend her all the money why have you only bid $400? If you KNOW she will pay you back you should be bidding all $5k at 30%, that's a ridiculous return.

He said why.

Just because he has the $5k doesn't make it painless.

 

[alkemyst]

Originally posted by: Lothar

Originally posted by: alkemyst

Originally posted by: Lothar

According to Prosper, I am.

And if the APR is "fair for the risk", why haven't you bid for it? Why hasn't anyone else bid for it?

because risking a few thousand bucks is not worth the hassle.

You should have stole WAMU for 1.9 billion yesterday.

Exactly my point.

Well a real lender wouldn't mind taking this on. The small fry not so much.

 

[manlymatt83]

Originally posted by: thepd7

Originally posted by: mjuszczak

Originally posted by: Lothar

Originally posted by: mjuszczak

Originally posted by: Lothar
30% APR?
I'll be walking away from this one by using "common sense".

What's so bad about that? Payday loans are much higher. Universal default rates at credit cards are sometimes higher. People are willing to pay higher rates in times of serious financial need. And plus, she started it high in the hopes that it would get bid down. But if it doesn't, it doesn't.

But not sure where you're "common sense" practice comes in.

The default APR on all my credit cards are nowhere near 30%.

I don't lend to subprime borrowers. Not in this kind of market.
Everything listed on her credit report screams "walk away".

In case you haven't noticed, no one else has but a bid on her loan besides you and it's been up for 3 days now.

I know, and it sucks, because I know her, I know what she's going through, I know how serious she is about wanting to get caught up, and I'm willing to loan her the money myself knowing she'll pay me back - but I was hoping others would contribute (not necessarily from ATOT)

If you are willing to lend her all the money why have you only bid $400? If you KNOW she will pay you back you should be bidding all $5k at 30%, that's a ridiculous return.

I most likely will.

1) Lending her $5,000 is impossible for me right now. If anything, I will lend her $2,500, which will keep her one month behind *still*, but caught up, while we try to adjust the prosper listing to better suit her so she can pay me back and pay the one remaining payment to catch up.

2) I was hoping prosper would help. Yes, I would take the risk by myself, if I had $5,000 sitting around right now, which I don't.