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Home Blog News & Trends

Disappointment with Prosper.com

Joshua Dorkin

Shaun gives us another update about his dealings with Prosper.com, and expresses his disappointment with the lending website.

I’ve noticed now that they have added a new feature called “Community Payment” which I’m not sure I like. The concept is simple: if a member of a group is behind on payments, other group members can chip in and make a payment on the overdue loan.

Among other things, his beef is that the new feature lends itself to fraud, and it removes fiscal responsibility from the individual. As I haven’t yet gotten active on Prosper, I can’t say how I really feel on this one. Any other thoughts?

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.