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    #1

    Peer to Peer lending

    Anyone have any experience with this?

    I was looking at lending club and it seems p2p lending is growing in popularity.

    Any opinions, good or bad?
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    #2
    Yep I have Lending Club...No real complaints so far...I actually have a small loan through them as well...So far I have about a 3% charge off rate but only been in about year and half...Sometimes there are over 1000 loans to look at and then sometimes only couple hundred...I have a set criteria that I use to filter out the loans to look at..

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      #3
      Originally posted by Lazyman View Post
      Yep I have Lending Club...No real complaints so far...I actually have a small loan through them as well...So far I have about a 3% charge off rate but only been in about year and half...Sometimes there are over 1000 loans to look at and then sometimes only couple hundred...I have a set criteria that I use to filter out the loans to look at..
      How did you diversify it? Do you select the loans yourself or have a mix that automatically buys for you based on risk?

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        #4
        I select the loans myself...I normally try to do about 40% a&b ; 40%c&d ; 20% e&f...You can honestly diversify however you want.....I have only had I think 2 a loans charged off and one was because the person passed away....There are probably just as many b&c loans charged off as d,e&f..My account shows right at 5% gain right now but they figure their percentages somehow that I haven't really figured out...

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          #5
          Loaning unsecured money to those who may not be able to get bank financing is more risk than I am willing to take for those returns.

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            #6
            Originally posted by thegrouse View Post
            Loaning unsecured money to those who may not be able to get bank financing is more risk than I am willing to take for those returns.
            Yeah there are other ways to make a little money.

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              #7
              I won't even lend money to family.

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                #8
                Peer to Peer????? I wouldnt even loan money to myself!

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                  #9
                  Originally posted by thegrouse View Post
                  Loaning unsecured money to those who may not be able to get bank financing is more risk than I am willing to take for those returns.
                  That's fine. Didn't say it was for everyone.

                  Everyone has their opinion on things. I am just having fun with it. It's not a large portion of my assets.

                  On the subject of risk.... you can't do much without it. Risk has to be there for it to be of any value.

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                    #10
                    Originally posted by 12RingKing View Post
                    That's fine. Didn't say it was for everyone.

                    Everyone has their opinion on things. I am just having fun with it. It's not a large portion of my assets.

                    On the subject of risk.... you can't do much without it. Risk has to be there for it to be of any value.
                    I was just providing my opinion as solicited. I don't mind risk but there has to be some significant upside. The P2P does not have enough upside to warrant the risk for my goals. Good luck and hopefully you can up your rates as interest rises

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