Lending Money to Strangers: Good Idea or Bad Idea?

Plenty of people look at Prosper.com, Zopa and now Communitylend and say:

What are you crazy? Why the heck would you loan money to strangers?

It's not an unreasonable question to ask.

However, I'm a very evidenced based person, in other words, it's what has actually happened that counts, rather than what someone thinks might happen (often overly optimistic or overly pessimistic). I've done a bit of research, and uncovered several groups that have made vast fortunes mainly by lending money to strangers.

Here's a partial list:

If you invest in these companies, you are a willing participant in this (prudent) loaning of money to strangers concept. Chances are you've been happy with how it is has turned out.

 

Submitted by Dan on Thu, 10/01/2009 - 22:35.

Great post. Well said, Dan.

Submitted by Arkadiusz Hajduk (not verified) on Fri, 10/02/2009 - 01:16.

Great post. Well said, Dan.

However, I'm a very

Submitted by Anonymous (not verified) on Tue, 03/09/2010 - 06:45.

However, I'm a very evidenced based person, in other words, it's what has actually happened that counts, rather than what someone thinks might happen (often overly optimistic or overly pessimistic). I've done a bit of research, and uncovered several groups that have made vast fortunes mainly by lending money to strangers. college partnership

designers are expected to

Submitted by Smith (not verified) on Tue, 03/09/2010 - 06:42.

designers are expected to have the most new jobs through 2014; however, job seekers are expected to face keen competition for available positions. college partnership | educational consultant

Thanks! Nice to see that

Submitted by Dan on Fri, 10/02/2009 - 09:02.

Thanks! Nice to see that you're working on projects in more tolerating lands!

Post new comment

The content of this field is kept private and will not be shown publicly.