Just tidbits about money and finance.
From the category archives:
On my last Prosper Update, Traciatim asked:
Coudl [sic] you explain how are you still up money when one of your loans defaulted? There is a new service coming to Canada that I was very interested in, but even taking out 10 loans at the start and only 1 defaulting I find the math hard to [...]
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My Grade E loan paid off this month. So out of 7 loans, 2 were paid off (1 early, 1 on-time), 1 went into default/bankruptcy, and the remaining loans are being paid more or less on time. One loan goes into late status occasionally, but even with the default, I’ve still made money.
People have been [...]
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You’d think I’d be happy about this, but I now live in DC, so all I can do is transfer my money out of it.
But if you live in any of the states that can still make investments in Prosper, by all means, do it. (California, Colorado, Delaware, Georgia, Hawaii, Illinois, Minnesota, Montana, Nevada, New [...]
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I’ve been putting this off, mostly because one of my loans was going bad, but I waited long enough and now the loan is current again. I have 6 remaining loans left out of the 8 total I made. 1 loan is charged off in ‘recovery’, which is still being paid off, but the borrower [...]
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I have 7 total loans with Prosper. But one has defaulted. There’s another one going bad right now. It’s 15 days late. I sent a polite message asking if the loan payment was going to be paid soon. But I got no reply. I am pretty sure this one is going to go under too.
I [...]
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I knew this was coming. Earlier this year the borrower was late on a payment for the second time, so I decided to ping him with an email asking if everything was ok since he was late again. He said things were tough but he made his payment and brought his account current.
I wasn’t sure [...]
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Rich Slick at Get Rich Slick asks what happened to all the Prosper blogs. My reply:
Prosper.com is paying out better than my high yield savings account, but I don’t have much invested there and it has yet to break even now that one loan is seriously delinquent.
In further detail, you can see my stats on [...]
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Hat tip to James at
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Reader Kevin asks:
Hey there, I just signed up for Prosper yesterday. I’ve been skeptical since the whole registration process asked for access to my bank account, and now I’m reconsidering after reading your post.
Is it worth the hassle? Or is this really just a gimmick to net a few pennies extra?
Dear Kevin,
Let me address the [...]
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A lot of Prosper borrowers tell you all the reasons they are good people and why you can trust them.
Frankly, I don’t give a crap about those things right now. I’m looking at the numbers and statistics. The reason I’m feeling cold about Prosper today is that I have my first seriously late loan. I [...]
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