Anyone:

What is the benchmark or what is considered an average "Charge Off" ratio? Raymond says mine is really high for a young account -4.8% of my accounts.

I started loaning in early 2014.

Be careful. Many people calculate different numbers and call them "default ratio" or "charge off ratio" or "loss ratio". There is considerable confusion.

The useful number is ANNUAL loss ratio. The numerator is net losses

in one year, and the denominator is your account balance.

Net losses means chare-offs minus recoveries.

Such an annual ratio is in a form that is intuitive, because you can directly compare it to another annual ratio ... the interest rate on your loans!

On the other hand, some people calculate ratios for all time, which gives different people different numbers because different people have accounts of different ages. Other people calculate ratios for the life of a loan. (LC publishes such numbers in their annual report.) This confuses people because you haven't held all your loans for their entire life. You can take the cumulative default numbers LC gives you and estimate a reasonable annual default ratio from them.

Finally, different people will have different loss ratios because we have different grades of loan.

Average annual loss ratios go from 1.7%/year for A to 11%/year for F. The average for C is 5.24%. My goal is to be under 4.5%