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They had me at: Register Now, Add Funds, Get Profit. I can't give them my money fast enough.... Sounds like loan repayments (ie principal + interest) are susp
by bumpkinjunkie 7y ago
They had me at: Register Now, Add Funds, Get Profit. I can't give them my money fast enough....
Sounds like loan repayments (ie principal + interest) are suspended indefinitely. This is the risk you take when you are expecting a 10+% return on property dev and payday loan investments.
- toomuchtodo 7y agoProsper and LendingClub loan marketplaces are of similar high risk profile in the US (the only borrowers on those platforms are those who couldn’t borrow from banks or other traditional lenders). I expect those investors will end up with interest and principal losses as well, the cost of investing in consumer subprime debt.
- adrr 7y agoDidn’t that happen during the last recession? I don’t understand why people still put money into these unsecured loan companies.
- deleted 7y ago[deleted]
- gullyfur 7y agoI believe both LendingClub & Prosper started after the last recession.
- toomuchtodo 7y agoProsper existed before the 2008 GFC/recession. I had thousands of dollars worth of notes that went bad during it.
- gullyfur 7y agoThank you for correcting me, I was under the wrong impression