<h1>savewithprosper.com, is it a scam </h1>
If you haven’t heard of or don’t know what Prosper is, it is a company that gives loans for a fixed rate typically for high balance debt consolidation and to lower interest rates.
You may have received a letter in the mail asking you to visit savewithprosper.com and are probably wondering if this is a legit company, which it is. They typically give out loans between $2,000 to $35,000 and they guarantee the rate for the life of the loan.
Is a Prosper loan right for you?
Depending on the interest rate that you get will determine whether or not a loan from prosper is a good fit. If you have credit card debt and high interest loans that are above 20% and you can get a loan from Prosper for say 11% or less then it would make sense to consolidate your debt and get a lower interest rate.
Getting a loan for $2,000 is typically the easiest loan to get from them, however if you want to get a loan higher than that, the way it works is they need to get several investors that are willing to invest in financing your loan. The best credit rates are as low as 5.99% and can go as high as 36% with a typical loan lasting three to five years. The average three year loan rate for a pre approved applicant was 13.3% which resulted in a 16.5% APR.
The pre-approved and pre-screen letter that you received shows that they can save you tens of thousands of dollars on credit card debt by getting a loan through prosper which would be the case if you were paying the minimum payment over 20 years on a credit card, which most people typically don’t do. So the biggest thing to look out for here is the interest rate, I would not recommend ever considering to get a loan from any company including Prosper unless the interest rate is substantially lower than the interest rate you’re currently paying for either your credit card debt, auto loan etc.
If you would like to give Prosper a try you can visit the website below and if you don’t feel comfortable applying online you can also call 877-611-8801.
<h2>Www.SaveWithProsper.com to apply at prosper</h2>
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