By Eve Mitchell
Article Launched: 01/20/2008
With the advent of peer-to-peer lending Web sites, consumers have an alternative to getting an unsecured personal loan from a bank or putting a relationship at risk when money is lent to a friend or relative and there is a disagreement about the loan terms.
http://www.contracostatimes.com/ci_8026758
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3 comments:
I think this is a big step to bypassing large corporations and the "middle man." Even through a formal agreement there are still big risks involved and it may take awhile for this to catch on.
This is a great idea to set up loans through websites, as long as they are hack proof and safe.
This reminds me of Mexican cundinas and the Cambodian tontines (as I learned recently :) )that as someone mentioned earlier eliminates the "middle man". It also brings attention to both the little government or legal involvement, and to strong personal ties to people and money.
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