FundKo: Peer to Peer Lending

I've been seeing FundKo's ads all over my Facebook feed and I have to admit that they are very catchy, particularly the one with the girl in the snazzy trenchcoat.

FundKo is peer to peer lending, with Fundko acting as the conduit between investor/lender and borrower. After registering in Fundko's site, you will then have the option to lend or borrow money, or even both.

Hello Monkey, Meet Wrench!

So the plan was all set, save Php50,000 (a.k.a. Dave Ramsey's Baby Step No. 1) while paying off my credit card and personal loans. After that, increase mortgage payments and keep adding to my emergency funds. It was a fool-proof plan until life happened.