Pulling out of Prosper.com lending

Today I have decided, after much internal debate, to halt my investments and bidding on prosper.com loans. I did a lot of math and back and forth in my head and decided this is the best choice for now. I have a multitude of reasons for doing this:

1. I am in debt. I can use the money I earn from this to pay down my debts. It makes financial and emotional sense for me to do this.
2. Prosper is in money trouble. They are on the edge of bankruptcy so I need to get my money out of there! Chances are they will survive but it is an added risk!
3. I have some bad loans. I am starting to see more defaults in my loans. I understand the recession has something to do with this but losses are losses. I expect more in the future as well.
4. Not enough market data. Prosper is a young company and a new type of investment. It needs to evolve a bit so us lenders can make better decisions. We need more data to see what kind of returns to really expect from it.
5. Time is an issue. I am trying to start my own part time business and have other commitments now too. I am running low on time researching loans to bid on.

That said I do like the idea of Prosper and would consider borrowing through them for future needs that I may have. I will continue my monthly updates as to my performance here on the blog until my last loan is finished. Good luck to all those lenders out there!