Another month another update… The picture is rather muddled right now between the accrued interest showing up in my account balance even on loans that are technically “charged off”and lending stats changing their algorithm… All I can do is continue to track and hope fore some clarity… On a positive note I have had no loans in the 1 month late category for most of the last month… (There are 2 in that category now, but for most of June they were not there…)
I am often asked what is the biggest thing I would do different if I could go back and do it again? I would follow advice very similar to Rich Credit Debt Loan in the post Making Extra Money With P2P Lending. I have learned a lot about credit risks and the like, but I would have much rather been more successful in my lending endeavours… My single biggest mistake in my lending was to ignore inquires.
Here is my current tracking chart…
Related Posts -
Lending Club Update I am continuing to struggle with the time and effort it takes to invest in Lending Club loans. (I do not like manual bidding in the first place and you have to search the extended credit by hand.) I have been assured that my concerns have been noted and that they...... -
Use Prosper.com to Repair Your Credit This blog is mostly dedicated to Prosper.com lending. However, I think about all aspects of the process at Prosper. Lately there have been a number of postings that list repairing credit as an ancillary benefit of borrowing on Prosper.com. Repairing damaged credit is a critical step in reducing debt since better...... -
New Loan Funded — Financial Freedom / Credit Card Consolidation — $25,000 at 11.44% — AA Credit — DTI 37% A new loan funded (Financial Freedom / Credit Card Consolidation â $25,000 at 11.44%). I participated via my standing order RL Overlooked. The borrower had AA credit, a 37% DTI. As a reminder my standing orders (and manual bids) only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7...... -
1 Month Late or Worse Curves by Credit Grade (July 1 Update) This is an update to my original 1 month late or worse curves. I belive we are starting to see the flattening of the curves. I have pulled the public data on the performance tab by hand in order to produce a spreadsheet of loan performance. This spreadsheet was then...... -
Green Note Review /caption] P2P student loans have exploded onto the scene this past year, due in a large part to a lack of availability of traditional loans. There has never been a better time for a p2p site to start offering student loan assistance, and Green Note is one of the newest......
Related Websites - Lending Club Borrowers: How to Get Approved for a Lending Club Loan If you want to become a Lending Club borrower and take out a loan through Lending Club’s peer to peer lending service, there’s a lot you need to know before diving in. You need to know both Lending Club’s requirements as well as questions that lenders will ask you during......
-
Paying credit cards before a mortgage? What??? I work in IT for a bank. During our monthly team meetings, we often have guest speakers from different areas of the bank come and talk to us about their area. One of our recent speakers was from our credit card division. While not a fan of credit cards,...... -
A Primer On Lending And Borrowing With Lending Club. Social lending is the process of enabling people to lend directly to and borrow directly from other people without using a bank. It really is a genius idea and one I wish I had thought of! Lending Club was one of the first to get in this game, and after......
-
Customizing a Budget It is a good idea for you to put together your own unique budget work sheet when it comes to getting started in setting up a budget for your household. Make sure that the categories and the information that you use to plug in your budget information pertains to your...... -
How to Never Have to Borrow a Dime In Your Life When people go out to buy a new car, major appliance, or other expensive purchase, more often than not they use the store's financing options or throw the purchase on their credit card to pay for their purchases. It's very rare that people pay cash for such purchases now of......
- Boxes Extra Large Plastic Planters, Pots & Window Boxes Gardening & Plants Yard, Garden & Outdoor Living Nursery
- Position Chart Trombone Brass Acoustic Musical Instruments
- Extra Wide For Men Shoes Running Exercise & Fitness
- Molds Doll Making & Repair Dolls Dolls & Bears
- Post-1950 Chairs Furniture Antiques
Categories:
Prosper.com, Statistics, Strategy, Tools
Tags:
2 comments ↓
quick correction: “and lending club changing their algorithm”, I think you mean “lendingstats”
thanks fixed.
Leave a Comment