bull shit, I just applied and got back not approved because of low score, I through it was for people with bad credit......The most you can do with this, is become a lender, then worry if a person will default,,,then what do you do....when they ignore the bill...lol.
Nice video but totally inaccurate portrayal of how you get your money back and the risk. It is an unsecured debt, just like a credit card. If you default a bank has no more recourse than you do at prosper. Prosper has a credit agency that reports on the borrowers and attempts to collect deliquent accounts. If a borrower defaults, they get dinged credit report and they get launched off prosper permanently. People are graded based on credit score. Man, you talk about inaccurate journalism.
bull shit, I just applied and got back not approved because of low score, I through it was for people with bad credit......The most you can do with this, is become a lender, then worry if a person will default,,,then what do you do....when they ignore the bill...lol.
zimby215 1 year ago
Nice video but totally inaccurate portrayal of how you get your money back and the risk. It is an unsecured debt, just like a credit card. If you default a bank has no more recourse than you do at prosper. Prosper has a credit agency that reports on the borrowers and attempts to collect deliquent accounts. If a borrower defaults, they get dinged credit report and they get launched off prosper permanently. People are graded based on credit score. Man, you talk about inaccurate journalism.
casual72 3 years ago