I’ve signed up for a loan through Prosper, which is a peer to peer loan service (ie. no bank). You can also be the lender, and collect interest from people, like me, looking to borrow. The loan is to consolidate my credit card debt ($15,000) at a lower interest rate than I’m currently paying. Yes, I’m kind of embarassed to say I have a sizeable debt, but sitting on it and doing nothing about it is detrimental to my fiscal health. The link to my loan “auction” is below if you’re interested in funding it. Otherwise head over to http://www.prosper.com/ and check out the service for yourself.
Bids are displayed in ranked order from lowest to highest bids by interest rate. For winning bids, the lender’s actual bid rate may not be displayed. Learn how bidding works.