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Messages - 1000Ways

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General P2P Lending Discussion / Re: Convenience Checks Arbitrage
« on: April 24, 2013, 08:38:59 AM »
Am I being overly naive in thinking that you can sell off your loans on folio?  I thought that the secondary market is what made this whole plan viable.  Buy loans, hold on to them for 21 months and then sell.  Granted, if you put $5000 worth of loans onto the secondary market all at once you'll flood it and get a terrible return (either pennies on the dollar for everything or not everything would sell); but I'd imagine if you had a good plan that fed them in slowly over the course of 4-6 weeks you could get your money back.


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Investors - P / Re: Bankruptcy notification?
« on: November 04, 2012, 10:01:25 PM »
I happened to look at the notes today and I noticed that the BK had been removed from the list.  It would appear that they never funded the loan and therefore gave me my money back.  The timing was weird; however, because I spent the refund and the BK notice came a few days later so it wasn't quite clear what was going on.

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Investors - P / Re: My secret weapon for lower defaults
« on: November 02, 2012, 09:34:35 PM »
How about spelling and grammar?  Any correlation with defaults and proper English? (as I double check my post for mistakes...)

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Investors - P / Re: Bankruptcy notification?
« on: November 02, 2012, 09:17:52 PM »
I just found a BK on a loan today with the same notice.  The borrower had filed for BK back in September, received it Oct 26th and the loan closed afterward (Oct 29th).  I'm wondering why Prosper let it go through...perhaps it was the delay?  In that case it was perfect timing.  And I'm pretty sure I'm out the money before I even had a chance.

The worst part was that the loan was only for 2K so I thought it was somewhat safe.  What I'd like to know is if this person had no intention of paying the loan why they borrowed so little money.  Go out in a blaze of Glory!

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