Quote:
Originally Posted by absentx 
Yeah trust seems to be a big thing...
Whats to say someone just wont rip off the lenders? I take it this site pulls a credit report to generate the credit rating correct?
What system is in place to make sure people dont get ripped off other than the possible return of high interest? I know they pull straight from the borrowers bank account, but what if they never put any money in that account?
In turn I would assume "prosper" then reports to the borrowers credit report?
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They do report your credit and you can also assign a collection agency in case of a default. Your best bet is to mitigate risk by spreading out $50 and $100 loans, which is what I'm doing.