Thursday, January 17, 2008
www.prosper.com is a website for the "normal Joe" to ask others for loans of different sorts. There are individuals on this site asking for loans to pay off credit card debt, to pay for a man's child's expensive medical bills, or for personal loans to help start up a business. With this being my first time looking at this time website I found it very interesting. It actually made me feel sad in a sense. I read the request for a loan by a man to help pay for his son's medical tests due to cancer. I actually teared up because it has to be very hard for someone to actually ask people they don't know to help with a sick child. Then as I thought more about this site I began to feel indifferent about the site. For myself personally I have a really diffcult time trusting others. I think that I need time to connect with someone and be sure they are really going to use the money for what they are asking. In this connection, or that connection which is truly lacking, you don't ever get to meet with the other. Are the pictures on the website even of the individuals that are requesting the money. I then have concerns because if people are saying their credit is A+ then why aren't they going through a bank. The interest rate first of all would be much lower under most circumstances a bank can work with someone to find them payments that fall within a normal range. Also with straight lending from others there's always the risk that you don't get paid back, then what happens, it obviously doesn't go to collections? I think for someone to ethically ask to borrow money from complete strangers is a hard thing to do. I feel badly if I borrow $1.00 for a soda and forget to give the money back the next day...I think that I would also have an image issue with asking complete strangers for several thousand dollars. I hate asking for help from my friends and families let alone help from others. I think the gesture of the website is great idea, I would just be very worried about lending any funds to anyone.