There is a peer to peer website that allows people to give each other loans. What is it called?
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I saw this on the news a long time ago and can’t remember what it is called. Basically, how it works is that if you need money for something, you create a profile and say why you need it, and then another user might loan you the money, and then you have to pay them back. So you can either be a lender or a borrower, and it is free. The website does not guarantee that you get your money back if you give a loan. So what is the name of the site? Thanks!
It’s called, that is the worst idea ever.
4 Responses to “There is a peer to peer website that allows people to give each other loans. What is it called?”
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September 29th, 2009 at 1:09 am
It’s called, that is the worst idea ever.
References :
September 29th, 2009 at 1:23 am
http://www.ripoff.com
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September 29th, 2009 at 1:28 am
Who cares? Sounded flaky from the get go! Anyone that promises you money but you dont have to actually pay it back sounds like a scandal and it sounds like you just need to pay attention to what you are doing and be careful!
References :
September 29th, 2009 at 2:12 am
In the UK and some other countries there is ZOPA (Zone of Possible Agreement I think). Pretty much any individual can offer money as a loan on there and when you do you can select which credit rating grade people need to borrow it. You can also decide what interest rate to charge and have different rates depening on the borrowers credit rating and length of the loan.
Other individuals can borrow money but you dont borrow it all off one person it is spread across several individual lenders incase you go AWOL.
All works pretty well.
Linky
http://uk.zopa.com/member/Monty_Mole
(if you use the above link and join and borrow or loan £2K then I get a credit, You can join and avoid that by using the link in the source bit)
References :
http://www.zopa.co.uk