How to Find Your Passion and Profit from it!

March 19th, 2009

Hi friends,

We’ve just added a new free ebook to those already available when you become a subscriber of the powerful Wealth Video Newsletter, the P2P Wealth Bulletin.  The free ebook is called Turn Your Passions into a Fortune and will give you tips on how start making money while doing the things you love.  If you are already a subscriber, open up your emails to see where to download the ebook if you haven’t already done so. 

With the P2P Wealth Bulletin every week you’ll receive a link to special powerful video designed to get you out of debt and on the road to riches.  These videos will feature millionaires, success coaches and famous debt experts along with motivational gurus.  See our main page to start changing your life today. 

Click here:   P2P Wealth 

People to People Investing and Lending

March 19th, 2009

There are several sites that now offer p2p loans, including the one we use Lending Club. Visit our main page for People to People Lending and investing and you can specifically check out either the loan side of our P2P lending club or the investment side.

See all the Lending Club has to offer.

The Lending Club is a great place to get a loan from others like yourself. The loan is for 3 years and can be
up to $25,000. It is unsecured meaning you don’t have to put up any collateral!The Lending Club is also a great place to lend money to others and make up to 19% for doing so!

P2P Lending and Investing now available at The Lending Club

November 4th, 2008

P2P lending and investing is now available at the Lending Club.

You can get a peer loan, aka p2p loan, or make a p2p investment in your fellow peers who attempt to borrow at the Lending Club.

Need Money? Join Lending Club!

Prosper no longer accepting new applications – Lending Club the place to go.

November 4th, 2008

Prosper is no longer accepting new applications.  They are currently in a quiet period and while they are they are suspending their p2p lending and investing.  On the good front, the Lending Club has come out of their quiet period and they are now THE p2p lending and investing site to go to.

There should be a law

October 13th, 2008

Saw a post on payday loans on the There Should be a Law site that I’ve copied here:

“There should be a law making it mandatory that anyone taking out a payday loan complete a 2 hour investment course prior to signing a contract. The investment course should cover interest rates and be paid for by the payday loan companies and administered by an independent organization. They should be available anytime.”

Seems like a good idea that those taking out a payday loan will really know how much it is costing them.  When you compare payday loans to other loan options you really are paying a ton of interest.  I know more and more states are trying to enact laws to help cut down that interest but in the meantime it would be nice to see those needing a quick loan realize just how much a payday loan is costing them.

If you are looking for a no collateral loan with an interest better than a payday loan try out our p2p loan site here at


P.S.  If there is some law that you think should be enacted head on over to the There Should be a Law site at

Have you considered a Prosper Loan?

September 9th, 2007

What is a prosper loan?

You’ve seen the rise of p2p, also known as peer to peer, or people to people, sharing networks. They are simply networks where people share information, products, files, etc., with each other. You might not know that these peer to peer or people to people networks have entered the loan marketplace.

One of the biggest peer to peer or people to people loan networks is Prosper. A Prosper loan is a loan that anyone in the United States with a credit score over 520 can apply for. If you are looking for an unsecured loan at rates that are a lot better than payday loans or cash advances, then a Prosper loan is a great deal.

Click the link to apply for a Prosper loan now.

With a p2p loan you request a certain amount (from $1000 to $25,000) at a certain interest rate and then other individuals bid on portions of your loan. If enough people bid on your loan it is likely to get funded. You will then pay the loan plus interest over a three year period.

If you are interested in getting an unsecured loan, in other words one that you don’t have to put up any collateral for, then there are certain secrets to getting your Prosper loan funded.

First, once you have applied for a loan, Prosper will pull your credit report through one of the credit bureaus, Experian. You’ll be given a credit grade from AA – HR, with AA being the best. Those with the best credit grade usually set up their loan request at a lower interest rate than those with lower credit ratings.

Usually, the lower amount of money you request, the lower your interest rate will be. At the time of this article, the current average rates for some selected prosper loans look like this:

AA ($1000-$5000) 8.37%

AA ($10000-$25000) 11.11%

A ($1000-$5000) 10.11%

B ($5000-$10000) 14.49%

C ($5000-$10000) 17.98%

D ($5000-$10000) 20.75%

E ($10000-$25000) 28.50%

Now, one thing you need to keep in mind is that in some states, Prosper is limited to a maximum interest rate and if you live in one of those where the maximum interest rate allowed to be charged is fairly low your loan might not get funded, especially if you have one of the poorer credit ratings. It might not get funded even if you have a great credit rating. For instance, Pennsylvania’s current maximum interest rate for a Prosper loan is only 6%. If someone can get a federally insured 5% do you think they’ll invest in an unsecured loan at 6%? Highly unlikely. That low interest rate, however, is the exception rather than the rule. Some states, however, are not yet available for Prosper lending.

So, one secret to getting your Prosper loan funded is to initially set your interest rate at a figure enticing enough to get others to bid on your loan. The better your credit score of course, the lower the interest rate you can set your request at.

Another secret to getting your Prosper loan funded is to join a group. Joining a group at Prosper instills more confidence in the lenders. It has been proven that those who are group members have a better chance of getting their loan funded and when it does fund, it usually funds at a lower interest rate than those who are not members of groups.

There are all sorts of groups on Prosper catering to a variety of different interests. There are groups of real estate investors, teachers, members of certain states and organizations, etc. Group leaders are allowed to charge a certain percentage to help the individual fund the loan. You can find groups that don’t charge any extra fees saving you more on the total cost of your loan.

Speaking of fees, what does it cost to get a Prosper Loan? Prosper charges between 1-2% to fund the loan or $25 whichever is greater. There is also a .5-1% annual servicing fee.

Another way to enhance your ability to get a loan is to ask your friends or family to join Prosper, endorse your loan, and bid it on themselves. This is another way to validate your character and offers social proof which spurs others to bid on your listing.

When crafting your loan request it is important that you list all your income and expenses in some detail so that potential bidders know that you have the income and assets to repay the loan. Also, make sure to emphasize not only your ability to repay the loan but your intention to make it a priority to do so. The more facts you present to support your ability to repay the loan, the greater your chance that the loan will get funded.

In regards to writing up your loan request, don’t whine about the bad deal that life has dealt you, even if it has. If you have had catastrophes in the past that clearly weren’t your fault, and have lead to bankruptcy or serious delinquincies on your credit report, you can let others know. However, if you were the cause of most of your bad credit problems, own up to them and let potential bidders know that this is a new you. Emphatically let them know that you Will pay this loan back no matter what the cost.

Follow the advice outlined above and your chance of getting the money you need through a persoanl unsecured loan from Prosper will be greatly enhanced.

To apply for a Prosper loan click the link.

For more information, please visit Click the link to see about joining our P2PWealth group at Prosper.

And, if you want to make a great interest rate and get a $25 signup bonus become a lender on Prosper now!

Have a fantastic day,

Bob K.

Debt Help