While this may seem initially like a good return, when you adjust for the risk and poor tax status, I don’t really recommend it to anyone. Why I stopped using Lending Club Taxes – loan income is taxed at your ordinary income tax bracket rather than capital gains Risk – the loans on...
My Personal Filters at Lending Club and Prosper To encourage people to do this, I’m going to share the filter criteria I personally use at Lending Club and Prosper. These filters are probably not ideal for many investors considering they (1) are in riskier loan grades than most take on, ...
Prosper’s automated Quick Invest feature makes it faster and easier to reinvest your money. LendingClub takes a little longer and often the loans that I want to invest in don’t end up funding so the money gets put back into my account uninvested. Since I only check up on this account...
Since P2P loan interest is taxed at ordinary income rates like interest from savings accounts, the ability to place them in a tax-deferred account is attractive. But since person-to-person lending is such a new asset class, I would hesitate to make it larger than say 5% of my portfolio, ...
LendingClub improperly sold $22 million of loans to an institutional investor that did not meet the investor’s standards.The origination dates were changed some loans in order to make the loan meet the investor’s specifications. Other loans had other features of their disclosures altered and/or...
Bottom line.The bonus itself is not big enough to encourage you to invest if you weren’t otherwise interested. However, if you have already decided to invest with LendingClub, definitely don’t miss out on these free miles to boost your overall return. The value is roughly 0.5% to 1% ...
LendingClub.comaccount value: $5,161 (includes principal + accrued interest, minus 30+ day lates, after fees) $5,000 Prosper.com Loan Portfolio.Below are screenshots of my Prosper account page as of 4/1/13. (click to enlarge) My Prosper portfolio now has 214 currently active loans, 12...
The Lending Club offers a very innovative way to connect lenders and borrowers. Much like the internet eliminated the need for travel agents, the Lending Club allows borrowers and lenders to bypass middlemen like banks or credit unions when obtaining a loan. Borrowers pay an origination fee to ...
Request a free rate quote from LendingClub. Request a free rate quote from Prosper. My experience.I applied for a $10,000 debt consolidation loan at both places. I was offered a 1-year loan at 8.17%, a 3-year loan at 7.49%, or a 5-year loan at 10.85% annual interest rates at ...
While this lack of loan grade diversification might increase the overall volatility of this account, I still feel comfortable taking on this risk considering the return it offers. E-grade loans give the highest ROI at Lending Club. Leaning into them while utilizing a few extra filters seems to...