Communal lending/borrowing..

Minisweeper

So 3stripe mentioned this in one of his posts and I think it's a really interesting idea so i thought I'd branch off and start a discussion about it...
Zopa

Denied

I don't remember the name, but there's another site doing something like that.

It's an interesting concept, but I have to wonder what the defaulter rate is, and how they deal with a defaulting borrower. I can't find any mention in their FAQ.

Denied

http://zopa.spreebb.com/index.php?showtopic=698

Defaults happen.

I'm not sure this is the kind of thing that people should be doing personally. Someone's likely to end up dead over a bad loan.

WallPhone