So after checking into Prosper I decided to try it. I was excited and a little nervous, but I jumped in..

Too bad it's not working for me.
Too bad someone won't be making money from my loan.

Here's the story:
My very low interest rate on CC#2 has ended. I HAD planned on having it paid off by now. When I called the bank they didn't have any lower offers for my account at that time. They doubled my rewards points and told me to keep calling back to check on lowering my rate.
I wonder if they aren't lowering rates now so they can make more money before the new cc laws take effect ???
So I am thinking it would be a good idea for me to consolidate my cc debt to a lower interest rate. Save money and get the balance paid faster. In order for me to save money doing this the new rate would have to be lower then 16%.
This is when I think Prosper would be a great idea. I don't really want another cc to transfer the balances to. And the peer to peer lending seems like a win/win. I mean somebody would like to make 8%, 10%, 12% or even 14% on their money loaning to me, right?
When I sign up and fill out my "profile" Prosper suggests I start my asking interest rate at 24%! In order to attract more "bidders". The web site says your rate will probably be lower due to the "auction process" and you can decline the loan if the rate is too high. It didn't make sense for me to ask for a loan at that rate - That's higher than what I pay on my credit cards!
I ended up posting a request for a loan with a 16% rate. I was clear in my comments what the money was for and for any prospective lenders to PLEASE ask me any questions or comment on how I could make a better posting. I spent about 30 minutes setting things up and carefully posting my request.

And...Nothing...Not a bite or even a comment..Nada..

Meanwhile, I am looking at my credit union's rates. I could get a personal loan for 12% or less. I could get their credit card with balance transfer rates starting at 6%. I have a credit score of 750ish so I'm pretty sure I'd get a good rate from them or another bank if I look around.

Phooey on Prosper..
My dreams of p2p lending going down the toilet.
So Un - Prosper - Us!
lol.

I am enjoying the long weekend. It's very nice to have DH and DD home all day with me and baby. DH likes making breakfast on the weekends so I've been treated to breakfast in bed the past three days!

Getting ready for summer break. DD's last day of school is this Friday. It will be nice to not pay for full time childcare because I'll be home on maternity leave for almost all the summer. I still want to give DD some time away from home. She is going to a few week long day camps. One is a really awesome horse camp with a friend from school. They went together last summer and had a blast. On Thursday they get to camp out overnight in the barn too. Me and the other mom split the driving, so that works out nicely. This camp costs $325. But I prepay so it's $300. Grandma (my mom) paid for camp this year as a birthday gift for DD.
The second camp we bought in a silent auction at DD's school's fundraiser. It's a basketball camp. Cost $170 if you prepay or $190 if you don't. We paid $120 at the auction. I thought that was a good deal!

My mom is also taking DD on two grandma/grandaughter trips. (My dad's work is most busy during the summer. So it's just the girls!) One week in June to the coast and visit my sister. And in July to tour some of the California missions. (My DD will be learning about them in 4th grade.)
As I type this I am thinking how lucky DD is! She'll also likely spend a few days with my inlaws too.
I want to plan a camping trip for us four. I hope I can find the time...and the money...

Ah, the money...
*sigh* My CC#2 balance has crept up a little this month. Spendy month and decreased income. No fabulous purchases, just regular expenses.

Enjoy the rest of your weekend everyone!

I am looking at getting a loan thru Prosper.
It's a peer to peer lending site, in case you are not familiar. I first heard of peer to peer lending maybe two years ago. I think it's a great idea!

How it works is individuals sign up to fund other people's personal loans. Little or large amounts and they (the investors) collect the interest, not a bank. So if you request a loan it might be funded by hundreds of people!

I would be using the money to payoff the two credit cards. I would get a lower interest rate and the interest money would go to people not the banks.

Has anyone used this service? What did you think?

I am overdue to start this blog.
I have been reading and commenting on entries on this site for over a year and have thought, "Gee, I should do this blog thing too." But never took the plunge. Now I have a little free time on my hands because....

I am overdue to deliver my second baby. A boy! So I'm off work, my house is clean, laundry done, dishes in the dishwasher, DD in school, DH working, dogs and cats sleeping.. I guess TODAY is a good day to start a blog.

Thing is my blog title is Overdue, but none of my bills are! WhooHoo! It's one area of my finances I've always done right. Pay on time. Now if Saving could come as easily.

We, DH and I, like buying the things we want, when we want. This of course has put us in a bit of CC debt, but not so bad as many Americans. So "lucky" on that I suppose.

So far the hardest part of blogging for me was coming up with a "name".