Author Topic: Six month review of my Lending Club account  (Read 3666 times)

lascott

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Re: Six month review of my Lending Club account
« Reply #15 on: March 08, 2019, 04:30:11 PM »
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Did you study about p2p lending before you started? I guess not.

Wow....helpful.  Sure you are joy to be around.  Someone asking a question or exploring a concept is a bothersome thing for you.
I think you are misunderstanding. The person complained that at about 10 months defaults happening.  However, there are a LOT of articles on the timing of when you start LC lending and transition periods. Did you see/read the article I pointed to?
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jd

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Re: Six month review of my Lending Club account
« Reply #16 on: March 08, 2019, 07:04:09 PM »
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I think you are misunderstanding. The person complained that at about 10 months defaults happening.  However, there are a LOT of articles on the timing of when you start LC lending and transition periods. Did you see/read the article I pointed to?

Sorry about that. I must have read it at a bad moment.  My apologies.


blueinvestchuck

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Re: Six month review of my Lending Club account
« Reply #17 on: March 20, 2019, 04:43:24 PM »
I did learn about the default peak of 9 to 18 months and actually spoke extensively about it to one of the reps in LC before I started. The reason I am unhappy is because my accounts in Prosper and Upstart have not been suffering such aggressive defaults at a time when the economy is not doing terrible. I had started investing in all P2P at the same time to get a one year benchmark and then decide which ones to go for aggressive investing.

And, you are just hitting the default peak. Did you study about p2p lending before you started? I guess not.

Unhappy because for the past few 2-3 months there has been gain anywhere from -1% to +1%. This is because of sudden explosion of defaults after about 10 months.

AnilG

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Re: Six month review of my Lending Club account
« Reply #18 on: March 21, 2019, 01:25:14 AM »
Thanks for update. What is the interest rate range or average interest rate of loans you are lending to LC vs Prosper vs Upstart? The loans with lower interest rate (better quality/grade) tend to default slowly over extended period of time compared to high interest rate loans. I no longer collect Prosper loan data and didn't even realized Upstart is still in business so can't check their defaults with time. But this trend is quite evident between grades on Lending Club.

I did learn about the default peak of 9 to 18 months and actually spoke extensively about it to one of the reps in LC before I started. The reason I am unhappy is because my accounts in Prosper and Upstart have not been suffering such aggressive defaults at a time when the economy is not doing terrible. I had started investing in all P2P at the same time to get a one year benchmark and then decide which ones to go for aggressive investing.
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