I was not planning on applying for a loan, but I received their mailing. I thought this may be a good thing. I do not have alot of debt, but what I have, can be consolidated. I applied for a 12,000 dollar loan and approved within 24 hours. Funds were dispersed within 48 hours. Now I have one bill at a lower interest rate. I am thrilled!
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I had credit karma share my information to get some pre-approved numbers. I checked out prosper and unfortunately, I guess I did not read well enough. Entering my information and checking that I accept Prosper T&C as well as them checking my credit apparently means I accept the loan. No signature, no contracts, just a checkbox. In addition, I couldn't adjust the original request and everything just went and got processed without any further consent. I also called them up, because my FICO 8 was higher than what Credit Karma said, to see if we could get better rates or lower closing fees. I was told that it's all done by computers and algorithms and they could do absolutely nothing for me.
Maybe I should have read more about it first. But I got a good loan at a lower rate for my debt consolidation. Funds got to me within a week of "applying". We'll see how they treat me
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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.