August 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 come currnet and several more charges off to bring my "prosper official" default to 8 loans. I currently have 2 fairly late also. I have 1 open bid on a group member's loan listing.

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: 0 (< 30 days)
In Collections: 2 (written off)
Current: 36

Closed Loans:

Charged Off: 8
Paid Off: 18

Open Bids: 1

Total currently invested: $932.13 (Principal Value)
Cash in Account: $106.35 (includes open bids)

Total Principal: $1,038.48