Amount Loaned: $300
Current Active Loans: 6
Payment Status / Current: 4
Payment Status / Payoff In Progress: 1
Payment Status / Late: 1 (<15 days)
Average Interest Rate: 10.51%
Current Account Value: $304.65
Total Loans Since Inception: 8
Loans Paid Off Early: 2
I am concerned about the late loan payment. According to that particular borrower's group leader, the borrower (she was "B" rated) has not returned his calls or emails since the payment went "late." This is not the first late payment I've had. In the previous instance, however, the payment was late only because of a glitch in Prosper's system, which Prosper publicly admitted as such.
Does the prospect of losing money bug me? Eh, somewhat. But I knew the risks going in. And this is more of an experiment for me than anything else. I will say this: It's very, very interesting to follow all the interactions between borrowers, lenders, and group leaders on the various message boards that have popped up to facilitate such things.
Prosper turns late loans over to collections once they go 30 days late. This seems a bit early to me, but that's the standing policy. I'd sure rather not deal with that side of my "experiment," but my instincts aren't sending out happy vibes on this one.
Index of My Prosper Posts
Labels: Prosper
