Credit card debt has ruined my financial life. I am not able to enjoy the finer things in life because of all the debt I am in. I am trying to turn my situation around. I have been in debt for more than two years now. Every time I get some money I have to use it to pay my bills. That leaves no money to pay down the debt. Every month the interest seems to get higher. My payments keep getting bigger and bigger. I never thought I would be in this much debt. I am struggling to maintain all my bills each month. I am looking for a way to pay less money to the creditors I owe, so I can build a savings. I need emergency money just in case something unexpected happens. I am going to start a debt management program to eliminate my debt faster.

I am a high level income tax payer and therefore I need to consider very carefully how I invest my money so that it can make the best returns possible without being hit by taxes. I am quite excited about the idea of peer-to-peer lending and I have thoroughly enjoyed reading the latest Prosper.com Review. Unfortunately it seems that as social lending companies are not classified as proper banks that I would have to pay full income tax on any interest that was aimed. This means that although prosper.com would give me an excellent rate of return on my investment, the levels of tax that I would have to pay on any profits that I gained, means that this method of investment is far too risky given the amount of returns that I am likely to gain. I therefore feel that prosper.com is not a very good investment for a higher rate taxpayer such as me.