May 2010 Prosper Lending Update

It is the middle of the month again and it is time for my update on prosper.com lending. I had 1 more loan payoff and 2 have gone slightly late. One filed bankruptcy and I expect to get nothing further from it. I also had 1 more loan officially charged off by prosper that I have already written off.

I am no longer bidding on prosper loans unless they come from my lending group. I am drawing down my account for now. I "write off" all loans in collections as a loss.

Here are my stats as of today:

Outstanding Loans:

Late: 2 (< 30 days)
In Collections: 4 (written off)
Current: 39

Closed Loans:

Charged Off: 4
Paid Off: 15

Open Bids: 0

Total currently invested: $1,236.42 (Principal Value)
Cash in Account: $7.63 (includes open bids)

Total Principal: $1,244.05