In these credit-crunching times, many people are trying to raise extra money. Some people clear out the garage and have a sale, while others drop their unwanted items on eBay. If your purchases are digital in nature, don't worry. A new site has appeared where you can sell your unwanted MP3s.

Times are tough right now. Unemployment is rising, many businesses are in serious trouble and it looks like Christmas spending will leave little for retailers to be cheerful about either.

With credit becoming more difficult to acquire and future potential for funds looking less than healthy, many people are looking for second and third jobs. Those that have no time may consider selling items in order to raise extra funds, but for those whose unwanted items are digital rather than physical, options have been limited – until now. Enter Bopaboo.

That’s right. Got a few unwanted MP3’s cluttering your hard drive? Accidentally bought the same track, two, three, four times or received a duplicate song as a gift? Don’t worry! Offload your unwanted MP3s at Bopaboo and delight in all the extra cash and hard drive space you just created. It’s a win-win-win situation. So how does it work?

Currently in private-beta to United States-based users, Bopaboo seems easy to use. According to the site, after registering the user is given his very own MP3 store. Here he simply uploads his unwanted MP3s (no DRM allowed) and selects the sales price. The user can upload as many MP3s as he likes, there is no limit. Bopaboo handles the order taking and payment processing and as soon as a buyer buys an MP3, the site transfers the file to the customer and the money to the seller.

Of course, Bopaboo has to make its money, and it does so by taking a percentage of the sales price. Initially, money is placed in the user’s ‘bopaBank’ but it is available for withdrawal or further purchases on Bopaboo.

Potential buyers can search in all the usual ways, with a feedback and seller rating system to help with choosing a supplier. Tracks can be purchased for as little as $0.25 each and major credit cards are accepted.

Bopaboo state that their service is completely legal with their tagline – “Stop illegally sharing and start legally selling!” In their FAQ they further state that “Unlike, peer-to-peer file networks – bopaboo never creates duplicates of your music.” We contacted Bopaboo and asked for more information but they haven’t responded so far.

So in the meantime, I’m off to see how much space I can clear on a couple of 500gig hard drives – these MP3s are simply gathering dust and this Bopaboo opportunity is too good to miss. Decisions, decisions……