By Michael Santo
Contributing Writer, RealTechNews
Want to lend money to a perfect stranger? Here’s : someone submits a request for a loan with the amount he needs and the maximum interest rate he will pay. Others “bid” on the loan, submitting how much they will loan and what rate they want. They don’t have to bid for the entire loan, of course. Then the bids with the lowest rates are combined to form the full loan. Sounds kind of like eBay, right?
The idea is to gain “reputation” by joining groups on Prosper, like say the PTA or … maybe something like Mensa. Of course, your Experian credit rating is another criteria by which lenders can choose to lend to you or not. Naturally, you have to worry about default, etc. and that’s all covered in Prosper’s Help sections.
Lenders essentially deposit their money with Prosper–which holds it in an interest-bearing account with Wells Fargo–and either review the loan requests individually or fill out a form permitting Prosper to allocate money to borrowers who meet certain criteria.
Chief among those criteria is the borrower’s rating from the credit reporting bureau Experian, but borrowers can also join or create groups with defined interests or characteristics that, they hope, will make them more attractive to some lenders. Source:
Note: The sentence excerpted from the original article which states that the pass-through account with Wells Fargo earns interest is incorrect. The Prosper clearly states you do not earn interest.
We Say: The first sentence of this post tends to reveal my initial feelings toward this. But those were my initial feelings. The more I think about this, since the (see the bitmap above) you can see the debt / earnings ratio, the credit rating, the person’s story … this might work. On the other hand, the first time there is a scam at Prosper (like you see sometimes as eBay) there will be big headlines. However, I might even try this myself, with a very small cash stake.
READ THE BOTTOM OF THIS POSTING FIRST AXS THE TOP IS A REPLY TO THE BOTTOM…..AND SHE ACTUALLY THINKS WE GOING TO SEND HER MORE MONEY
Full ViewFw: BELOW ARE THE PAYMENT SLIP (GET BACK ASAP)
From: Lady Linewalker View Card
To: lordlinewalker@yahoo.com
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—– Forwarded Message —-
From: Lady Linewalker
To: Mrs.Tregarth Hilda
Sent: Sat, October 10, 2009 11:19:06 AM
Subject: Re: BELOW ARE THE PAYMENT SLIP (GET BACK ASAP)
Hello,
You got to be kidding me. This is bull crap. You all didn’t have to pay taxes on the money I sent to you to get all 10 digits. I want this money today of the 5,000.00 USD dollars or my 180.00 USD dollar plus the 12.00 USD dollars to send it and the 550.00 USD dollars plus the 33.00 USD dollar via western union to me TODAY. You are LYING about all this Financial Services is out of England. We are not responsible to pay Nigeras taxes. We called Mr. Martins and he answered his phone. How is he in jail if HE IS ANSWERING HIS OWN PHONE. The loan of 5,000.00 USD better be wire via western TODAY OCTOBER 10TH BY 5PM NIGERIA TIME SO THAT WOULD BE 12PM EST IN VIRGINA. IF THE 5,000.00 CANT BE WIRED THEN I WANT THE 180.00 + THE 12.00 TO SEND IT AND THE 550.00 + 33.00 TO SEND IT FOR A TOTAL OF 775.00 USD VIA WESTERN UNION FOR SAME TIME TODAY. IF I AM NOT LET KNOWN OF THE THE 775.00 USD DOLLARS BY 5PM NIAGERIA TIME AND 12PM EST HERE IN VA. I WILL BE TAKING FURTHER STEP. WE WILL GO TO INTERPOL AND REPORT YOU AND MR. MARTINS. JOHN IS ALREADY REPORT TO INTERPOL CYBER CRIME. IF I DON’T GET MY MONEY BOTH YOU AND MR. MARTINS WILL GO TO PRISION. YOU MENTION TRUST AND THIS IS THE SECOND TIME YOU BROKE IT. I GUESS ALL OVER SEAS THINKS AMERICAN’S ARE STUPID. YOU CAN NOT CHARGE TAXES ON LOANS IN THE US OR ANY COUNTRY. WE ARE NOT RESPONSIBLE FOR NIGERIA TAXES, WE PAY ENOUGH IN AMERICA. HOW CAN YOU ALL MESS WITH PEOPLES LIVES LIKE THIS. I USED OUR RENT MONEY FOR THIS THINKING, I WAS GETTING 5,000.00 USD SO WOULD STILL BE ABLE TO TAKE IT OUT OF THAT TO PLAY MY RENT. NOW WE ARE ALL GOING TO PUT OUT ON THE STREET. I HOPE YOU CAN SLEEP WELL KNOWING YOU PUT ME, JOHN, MY SON WILLIAM 16, MY DAUHTER ELISHA 15, AND MY SON DUSTIN 10 OUT ON THE STREETS. I AM NOT STUPID THAT YOU CAN’T HAVE A PHONE IN JAIL. MR. MARTINS ANSWERED HIS PHONE AFTER OUR CHAT OF YOU SAYING HE WAS IN JAIL. SO THAT STATEMENT WAS A LIE DUE TO YOU SAYING YOU CHECKED UP ON IT. IF HE WAS IN JAIL WHY WOULD YOU TELL US TO CALL MR. MARTINS. SO LETS SEE 550.00 USD IS 83,000.00 IN NIGERIAN MONEY AND PROBABLY 180.00 IS ANOTHER 17,000 IN NIGERIAN MONEY FOR A TOTAL OF 100,000.00 AND WITH YOU ASKING FOR 780.00 MORE YOU ARE LOOKING AT ANOTHER 100,000.00.. SO TELL ME WHAT IS YOUR CUT IN IT ALL? LIKE I SAID I BETTER HAVE THE 5,000.00 USD TODAY AND YOU E MAILING ME TO GIVE INFORMATION OR MY 775.00 USD OF MONEY I SENT AND FEES TO SEND IT. THAT 550.00 WAS SUPPOSE TO GO INTO A ACCOUNT TO BE RETURNED AFTER LOAN WAS PAID AND WAS JUST PICKED UP SO RETURN IT BACK. I GOT LOTS OF FRIENDS AND THEY HAVE FRIENDS THAT WILL LET ALL KNOW OF YOU ALL, SO THEY DON’T GET SCAMMED. OH AND THANKS FOR RUINING MY VACATION AND NOW I WILL LOSE THE HOME WE WERE GOING FOR CAUSE I NEEDED MONEY FOR CLOSING COST TO GET IT. SO I WILL BE CHECKING WESTERN UNION OF EITHER 5,000.00 USD OR 775.00 USD SENT TO JOHN CHAPPELL COUNTRY USA, CITY ROANOKE, STATE VIRGINIA. I DON’T CARE IF IT IS YOU THAT HAS TO PAY IT. ONE OF YOU WILL SEND MY MONEY BACK. YOU ARE JUST AS RESPONSIBLE AS MR. MARTINS IS IN SENDING MAILS AND IM’S….WHICH I STILL HAVE ALL. INTERPOL WILL GET ALL OF YOUR STARTING CONTRACT TO THE CHANGE AND THEN TO THIS LAST CHANGE. LIKE I SAID THIS Authorized and Regulated by the Financial Services ONLY HAS 2 LOCATION AND THAT IS IN LONDON ENGLAND AND IN SCOTTAND. SO ANOTHER LIE WAS SAID. YOU CAN’T CHARGE TAXES ON A LOAN IN AMERICA OR ANY COUNTRY (ALL READY LOOKED THAT UP). SO DO WHAT YOU PROMISED AND SEND MY 5,000.00 USD FOR THE LOAN OR MY 775.00 USD FOR THE MONEY, I HAVE SENT FOR THIS LOAN. IF YOU DON’T SOON YOU WILL BE IN PRISON. MY HUSBAND WON’T LET THIS GO AND LET YOU ALL GET AWAY WITH THIS.
MICHELLE CHAPPELL
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From: Mrs.Tregarth Hilda
To: Lady Linewalker
Sent: Sat, October 10, 2009 9:20:01 AM
Subject: BELOW ARE THE PAYMENT SLIP (GET BACK ASAP)
Hello,
Thanks for your e-mail.The Payment have been Pickup.and the Loan Fund Transfer is in Progress. Information reached that Mr.Anuge Martins has be arrested by the tax force agency, So i decided to rear ch their office and see for my self. I found that Mr.martins is in their custody that Liberty Authorized and Regulated by the Financial Services Authority has place Hold on the Transfer of Fund.The Taxation and Revenue Department assesses certain types taxes. A tax is levied on loan, raffles, etc. Almost everywhere,normally by the payment authority on behalf of the Government.This Tax as stated on the Information that was sent to us Started the Month. In some cases, the Financial Services Authority receives a share of loan taxes levied by the Government.However, In most cases the tax takes the form of a permit fee which need to be sent to the Financial Services Authority. So they gave me the slip and when i went through it, i found that two numbers are missing in the slip they said you have to remit the payment of $780usd before the two numbers will be release and without that Mr.martins will not be release from their custody. So you will found the 8 digit numbers that are in the list, so for that they cancel the remaining 2 so that as soon as the tax payment is made, the remaining 2 number will be release to you so that you can have the complete 10 digit numbers of your loan.
It is only classified as a tax in a few Governments/Countries.Non Residential Tax is the sole responsibility of the beneficiary.Income taxes deducted from source generally include Direct Federal Tax, Communal Taxes Etc.But To my Understanding,International Transfer Tax/Non Residential Tax Started this Month.Therefore, the amount for the International Transfer Tax/Non Residential Tax is $780.00 ,and it is payable to The Accounts Department of the Financial Services Authority which will consequently make the necessary returns to the Tax Office as payment of Tax. Please note that a Tax receipt will be issued to you along with the Tax Clearance Certificate.
This will ensure that your funds are not Taxed again by any Tax Authority { e.g the IRS}. Hence you will have to make the payment to The Account Department Financial Services Authority .Note:That Your Loan/Fund is protected by a Hardcover Insurance Policy by the Financial Services Authority which makes it impossible to deduct any amount from the money before it has been remitted to you.This means that the above charges cannot be deducted from the Loan.Email us for Directive on how Tax Payment can be made.Once more we are sorry for every inconveniences this might cause you because we were just informed Today.An Urgent Respond from you will be very Appreciable.In Other word Very Much Appreciated.Have a nice day.
Kings Regards
I await an urgent responses asap
Kinds Regard
Mrs.Tregard Hilda..
NEEDLESS TO SAY THAT OF THIS DATE WE STILL HAVE NOT RECIECED ANY MONEY FORM A SO CALLED LOAN OR EVEN A REFEUND OF WHAT WE HAVE PAID FOR SO FAR…..I WILL POST MORE AT A LATER DATE AS I AM TIRED OF LOOKING AT THIS RIGHT NOW AND WILL APOLOGIZE IN ADVANCE FOR MY LANGUAGE AND MY WIFES AS THIS PUT US IN A HARDSHIP BY TRYING TO CONSILDATE SOME THINGS WITH A LOAN AND GETTING SCAMMED OUT OF WHAT WE DID HAVE AND EVEN SOME WE DIDNT…..TOOKOUT A PAYDAY LOAN TO GET THE 550 AND NOW CANT PAY THAT BACK AS OF YET
Hello all, My husband has posted to you all in to bewaring of lady.hildaloaninvestment01@gmail.com. I also got lots of IM’s with this women and the promises she made, that ended up being all lies. This one, I woke up to this morning and really thought it needed to go on here quick due to now she is saying death threats against my husband and sick enough about my grandson.
Mrs.Tregarth Hilda: am not scad, but as i earlier told you, i will make you regret what you have done. i will make sure i do all i have to destrol your home and mak you a widow. if you like your and ur husband, tell John to delete all that mail that he have put there for him not to have he self to blame.thanks
Mrs.Tregarth Hilda: let me start with this little baby first before i start with your husband.
Mrs.Tregarth Hilda: i have print out all your pic you have in ur IM including this little bady you have upload in this IM okay.
Last message received on 10/24 at 8:27 AM
l
This is not the first time she has made death threats again my husband. She needs to be stopped all. NO ONE DEAL WITH HER CAUSE SHE WILL SCAM YOU OUT JUST LIKE SHE DID ME. I WAS A SUCKER THIS TIME, BUT NEVER AGAIN ANYONE WILL SCAM ME AGAIN.