Is online peer to peer financing for you?

At these P2P lending sites, I’ve been more of a lender, but I found a guest poster who was willing to share their experience as a borrower at Prosper.com. Here are Debbie Dragon’s views on Prosper.

Every time I turn on our local news channel, I am presented with a segment called “are you feeling the pinch?”

Our typical evening news regularly includes a good five minutes or so of information about how people in our community are dealing with their financial situation. Most of the people they interview are working second jobs, or are trying to earn money online to take some of the pressure off; almost everyone mentions finding it hard to keep up with their monthly payments and some talk about the inability to get approved for credit when previously it was never a problem.

Due to the direction the economy is going, I think peer to peer lending will increase in popularity — both for lenders and investors looking for alternative uses for their money, as well as for borrowers looking for loans…. Read more (via The Digerati Life)

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