So, anyway, point is, average joes like you and me loaned me this money through Prosper. I will make monthly payments for 3 years (auto-drafted from my bank account) to pay this off. The most they lend is $25,000 and the term for all of their loans is 36 months.
The GREAT news is that I got this loan to pay off ~$4600 on a credit card that is robbing me at 28.4%, so my payment to Prosper is only a few dollars more than my minimum payment to this card. That's awesome. In three years I will have payed off a couple of more cards in addition to this one and my credit rating will almost surely have climbed from the current B to an A or AA by then. The only reason it isn't an AA now is because of my debt-to-income ratio, having used/abused credit cards for far too long.
Moral of the story: if you have a few bucks that you'd like to loan to people so they don't have to rely on
