I would like to know if anyone has invested in Prosper.com and is it a safe legitimate investment opportunity?

Question

Are they a safe investment and do they insure the investors money? Does anyone have any experience with this type of investment you can advise me on? Their is also LendingClub.com which looks like the same type of investment. I just don't want to lose my shirt here... thank you.

Answer 1

These seem really risky. If the party that you loan money to defaults, what recourse do you have?

I'd say stay away from places like this.