With the economy in tough times and the apocalyptic headlines that fill our newspapers and online news sites, it’s no wonder why many people are thinking about ways to cut their expenses, save money, and pay off credit card debt faster. Hard to pay off a balance though when you’ve got a ridiculously high interest rate though right? Heck even those with perfectly good credit have seen their interest rates creep up overtime. So how do walk away from ridiculous interest rates without bouncing your debt to a different credit card company who may or may not do the same thing? Pay your debt off using Prosper.com, where there are lenders ready to give you a hand, and help you get a loan with a much better, and permanently fixed, interest rate. According to their site, “Prosper, America's largest people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone. The way Prosper works is intuitive to people who have used an online auction. Instead of listing and bidding on items, people list and bid on loans using Prosper's online auction platform”. The risks may be high but if a borrower defaults on a payment, Prosper hires a collection company to go after them. You can specify what you need the loan for, whether it student loans, medical bills, car loans, the possibilities are endless. As for the lenders, the average returns are upwards to 10%. There’s something about people coming together in a virtual community to let corporate credit America they can do without that screams “F$%# You”.

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