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Thinking about giving this a whirl with a few grand, I've been browsing notes while waiting for my bank account to verify. I've noticed that most of them (or at least the ones I was browsing at about 11pm PST last night) didn't have any questions answered at all, but were still at 80%+ funded. I saw one or two questions answered, so I'm pretty sure the questions aren't private per request or anything, but correct me if I'm wrong. I read the whole thread last night, and one of the things that was repeated a few times is that you can get some sort of read on the borrower by seeing how well they write their responses, but it seems like a lot of the notes I was browsing were almost ready to go without answering a single question. Did I just check at a weird time, or am I missing something?
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Oct 30, 2013 21:27
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| # ¿ May 5, 2024 21:55 |
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How long is the money tied up in those rejected notes, on average?
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Oct 31, 2013 23:41
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I sort of like the idea of investing in actual humans that need money, but I'm a pessimist when it comes to thinking people are going to be assholes when it comes to money. We'll see how it goes.
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Nov 1, 2013 03:38
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I'm looking around the site for this but can't figure out exactly where to look: If a borrower pays off the loan early, does LendingClub disperse the proceeds immediately, or sit on it and pay everyone out for the term?
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Nov 4, 2013 23:48
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About half of my notes have been approved, and I'm pretty excited to see if I actually get all my payments next month. I had a good time reviewing notes, and I really like the idea of actually lending money to a person who needs it directly. I'm aware that anyone can write anything in the request, but when I see a borrower who claims to want to fix up his fence, I get a warm fuzzy inside. Then I remember I'm investing, and people can lie. Pay me my money, fence-guy. Shadowgate posted:You get paid out right away. How often has this happened to the people in this thread? Do loans get paid off early regularly, or are most of the ones you guys/girls have had go the full duration?
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Nov 13, 2013 21:53
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NPR Planet Money on Peer-to-Peer Lending, LendingClub, and a world without banks. http://www.npr.org/blogs/money/2014/05/30/317030992/episode-543-a-world-without-banks
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Jun 5, 2014 22:50
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April posted:Thanks for the vote of confidence! It seemed like for a month or 2 there, I was getting almost all B1-B3 rated notes, but the last couple of auto-buys I've done via IR have included some C2-C3 rated ones. They aren't super high-interest, but definitely more than what I've been getting. I only check my account on the 1st and 15th, but I've noticed a lot more Cs for the past month and a half.
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Jul 9, 2014 17:55
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Debating it, but figuring I'd be one of the stooges holding the bag while other people got rich.
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Nov 21, 2014 00:25
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| # ¿ May 5, 2024 21:55 |
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Congrats to anyone who took a quick profit, and best of luck to anybody holding. I was too lazy to open another brokerage account.
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Dec 12, 2014 00:34
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