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I'd never heard of Lending Club, but I used to do Prosper back in the day... and had a pretty bad experience. I typically "invested" in loans that paid 10-25% interest (and chose them quite judiciously) and I think I ended up losing about half my initial capital. Maybe they've improved it since, but when people stop paying, they made a token effort to contact them and then just sold the debt off to a collections agency for pennies on the dollar. I didn't like the fact that I, as a backer of the loan, didn't have a say on how that was handled. Long story short, it seems like a great concept up front, but it likely won't end up panning out like you want it to.
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# ¿ Nov 25, 2012 15:56 |
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# ¿ May 2, 2024 07:46 |