Is Prosper.com a legitimate site?

Question

i don't really like to give out all my personal info online.

Answer 1

Perjury or fraud?

The most egregious misstep by the company happened in May of this year. In a filing in United States bankruptcy court, Prosper denied it directly loaned money to either a man who was declaring bankruptcy or to his wife, whom he accused of stealing his identity. Instead, Prosper claimed that it was acting as the authorized agent of individual lenders who loaned the money.

That may seem straightforward, but it's actually directly contrary to the contract that Prosper had with the people who bought the loans it originated. Prosper may call those folks "lenders," but as the contract states, Prosper was the lender and the people it called lenders were really loan purchasers.

So was Prosper misrepresenting itself to the bankruptcy court, or did it execute phony contracts with the people who purchased loans through its service? Either way, if you were looking to get into the money-lending business, you might think twice about whether that's the kind of company you should want to do business with -- especially since you need to give it personal information like:

your name,

your Social Security number,

your bank account information, and

your home address.

Answer 2

yes it's very legitimate. Loans are issued by individuals, not institutions, and based on amount needed and your credit worthiness. If you have a problem revealing personal info online then this is not a good option for you. You are required to reveal your credit info to the site which will in turn classify your credit risk level. This is displayed to everyone. You also need to provide a detailed testimony as to why you need the funds.