It is the middle of the month again and it is time for my update on prosper.com lending. It has been another quiet month with business as usual. I have 1 slightly late, 1 very late loan and 6 more have paid off completely.
I have decided to completely abandon Prosper. They have gone to a fixed rate system and that does not appeal to me at all. My ability to earn extra interest (arbitrage) has been eliminated. I will continue reporting on my experience until I have emptied the account.
I "write off" all loans in collections as a loss.
Here are my stats as of today:
Outstanding Loans:
Late: 1 (< 30 days)
In Collections: 1 (written off)
Current: 25
Closed Loans:
Charged Off: 10
Paid Off: 31
Open Bids: 0
Total currently invested: $502.52 (Principal Value)
Cash in Account: $33.63
Total Principal: $536.15
April 2011 Prosper Lending Update
Labels: investments, prosperby Frugal Backpacker on Monday, April 18, 2011
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