Comments on: My Best Loan http://www.lazymanandmoney.com/my-best-loan/ Saving, Earning, and Investing Money Fri, 10 Feb 2012 06:12:03 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Lazy Man http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3981 Lazy Man Wed, 14 Mar 2007 22:22:14 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3981 "My Most Promising Loan" doesn't have the kick to it. It's good that you are intrigued by my Prosper dealings, because I get the feeling you'll see a few more posts on the topic. “My Most Promising Loan” doesn’t have the kick to it. It’s good that you are intrigued by my Prosper dealings, because I get the feeling you’ll see a few more posts on the topic.

]]> By: My Financial Journey http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3977 My Financial Journey Wed, 14 Mar 2007 22:11:05 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3977 Isn't it a little too early to call this your best loan? Granted it looks very good up front, but so did buying Enron stock a couple years back :-) I'm very intrigued by your Prosper dealings, but when it comes to loans your best ones are the ones that get paid off in full. While this one may look great up front stuff happens and he could very well default (unlikely but possible) which I think would change your opinion on the greatness of the loan. Maybe a better title would have been "My Most Promising Loan" Isn’t it a little too early to call this your best loan? Granted it looks very good up front, but so did buying Enron stock a couple years back :-) I’m very intrigued by your Prosper dealings, but when it comes to loans your best ones are the ones that get paid off in full. While this one may look great up front stuff happens and he could very well default (unlikely but possible) which I think would change your opinion on the greatness of the loan. Maybe a better title would have been “My Most Promising Loan”

]]> By: RateLadder.com http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3847 RateLadder.com Sun, 11 Mar 2007 18:29:55 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3847 Here is a post I wrote about using Prosper to repair your credit... http://rateladder.com/2007/01/09/use-prospercom-to-repair-your-credit/ Here is a post I wrote about using Prosper to repair your credit…
http://rateladder.com/2007/01/09/use-prospercom-to-repair-your-credit/

]]> By: Lazy Man http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3817 Lazy Man Sat, 10 Mar 2007 20:54:07 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3817 My understanding is that taxes are pretty similar to bank interest, charged at your normal tax bracket. I'm only 98% sure of that because taxes in general are so complex that it can be difficult to be 100% sure. That said, I'll go with my typical disclaimer of, contact your tax adviser. I invest in my Roth IRA as well, but that's separate from this. I don't know how the credit bureaus treat Prosper. My guess is that if it shows up your credit report, it'll factor in the overall record. I've really never thought of it too much from the borrower's side as I'm a lender. My understanding is that taxes are pretty similar to bank interest, charged at your normal tax bracket. I’m only 98% sure of that because taxes in general are so complex that it can be difficult to be 100% sure. That said, I’ll go with my typical disclaimer of, contact your tax adviser. I invest in my Roth IRA as well, but that’s separate from this.

I don’t know how the credit bureaus treat Prosper. My guess is that if it shows up your credit report, it’ll factor in the overall record. I’ve really never thought of it too much from the borrower’s side as I’m a lender.

]]> By: Jonathan http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3816 Jonathan Sat, 10 Mar 2007 20:37:22 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3816 How do your taxes work with Prosper? Although an index fund may only get me around 9%, it's in a tax-protected IRA. Are you still coming out ahead, even after taxes? I love the idea of Prosper. Does anyone know if paying off a Prosper loan is good for building credit, or is it considered a private loan that has nothing to do with your credit? How do your taxes work with Prosper? Although an index fund may only get me around 9%, it’s in a tax-protected IRA. Are you still coming out ahead, even after taxes?

I love the idea of Prosper. Does anyone know if paying off a Prosper loan is good for building credit, or is it considered a private loan that has nothing to do with your credit?

]]> By: Moneymonk http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3792 Moneymonk Fri, 09 Mar 2007 17:42:09 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3792 Way to go, good for you. Funded in 22 minutes - unheard of. Don't get too greedy, borrowers like that is like a needle in a haystack, hard to find. Way to go, good for you. Funded in 22 minutes – unheard of. Don’t get too greedy, borrowers like that is like a needle in a haystack, hard to find.

]]> By: RateLadder.com http://www.lazymanandmoney.com/my-best-loan/comment-page-1/#comment-3790 RateLadder.com Fri, 09 Mar 2007 17:39:49 +0000 http://www.lazymanandmoney.com/my-best-loan/#comment-3790 I completely agree with greed in this case... That is why I ladder. If you were laddered you would probably be in this loan for at least $150 (assuming funds). If you did an unequal ladder (more money at the higher interest rates) it might even be as much as $300. I am assuming your current lending patterns. I completely agree with greed in this case… That is why I ladder. If you were laddered you would probably be in this loan for at least $150 (assuming funds). If you did an unequal ladder (more money at the higher interest rates) it might even be as much as $300. I am assuming your current lending patterns.

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