Peer to Peer Lending Anyone? - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > WallStreetBets > Stock Market Traders > General Money Chat

General Money Chat Discuss other ways to make money online.

Reply
 
Thread Tools
  #1  
Old 02-12-2017
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,097
Thanks: 408
Thanked 668 Times in 494 Posts
Activity: 0%
Longevity: 66%
iTrader: (0)
Default Peer to Peer Lending Anyone?

Just curious if anyone has used Lending Club or Prosper? Just got started on Lending Club. Will see how it works out.
Reply With Quote
The Following User Says Thank You to vogeltron For This Useful Post:
rsot (02-12-2017)
The complete step-by-step guide to get back to selling today!

  #2  
Old 02-12-2017
Executive [VIP]
 
Join Date: Dec 2010
Posts: 3,506
Thanks: 254
Thanked 815 Times in 600 Posts
Activity: 5%
Longevity: 77%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

Used in what way, to lend money out for used them to get a loan.
Reply With Quote
  #3  
Old 02-12-2017
JamesNorth101's Avatar
Executive [VIP]
 
Join Date: Apr 2013
Posts: 20,073
Thanks: 2,424
Thanked 5,197 Times in 3,996 Posts
Activity: 27%
Longevity: 63%
iTrader: (462)
Default Re: Peer to Peer Lending Anyone?

I have used zopa.com to lend money. Pretty easy but the returns are not great. Its worked out at about 3% over the last 8 months so I may be looking to shift the money elsewhere for a slight higher return come May
Reply With Quote
  #4  
Old 02-12-2017
Executive [VIP]
 
Join Date: Dec 2010
Posts: 3,506
Thanks: 254
Thanked 815 Times in 600 Posts
Activity: 5%
Longevity: 77%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

I used Prosper last year, same with JamesNorth101, returns was about 5% after loan loses and their high fees. Wasnt worth it to return to it. I can get better yields with high paying stock dividends.
Reply With Quote
  #5  
Old 02-13-2017
Executive [VIP]
Threadstarter  
 
Join Date: Nov 2012
Posts: 3,097
Thanks: 408
Thanked 668 Times in 494 Posts
Activity: 0%
Longevity: 66%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

To lend out money. I would rather live out of my car before I paid some crazy interest rate to borrow money.
Reply With Quote
  #6  
Old 02-13-2017
JamesNorth101's Avatar
Executive [VIP]
 
Join Date: Apr 2013
Posts: 20,073
Thanks: 2,424
Thanked 5,197 Times in 3,996 Posts
Activity: 27%
Longevity: 63%
iTrader: (462)
Default Re: Peer to Peer Lending Anyone?

A mortgage is often a necessary thing these days. Much better to pay 3% on that than plow all the money into rent

It's also often needed for a business to grown.

I would agree when it comes to getting a loan to go on say holiday. That in my opinion is just money mismanagement
Reply With Quote
  #7  
Old 02-13-2017
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Peer to Peer Lending Anyone?

What do those services charge as the rate of interest on loan?
Reply With Quote
  #8  
Old 02-13-2017
JamesNorth101's Avatar
Executive [VIP]
 
Join Date: Apr 2013
Posts: 20,073
Thanks: 2,424
Thanked 5,197 Times in 3,996 Posts
Activity: 27%
Longevity: 63%
iTrader: (462)
Default Re: Peer to Peer Lending Anyone?

There is no set interest rate. It depends on the individual applying for the loan
Reply With Quote
  #9  
Old 02-13-2017
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Peer to Peer Lending Anyone?

Ah ok - on credit score and factors, cool
Reply With Quote
  #10  
Old 02-13-2017
BlackLion's Avatar
Executive [VIP]
 
Join Date: Mar 2014
Posts: 504
Thanks: 55
Thanked 141 Times in 92 Posts
Activity: 25%
Longevity: 58%
iTrader: (1)
Default Re: Peer to Peer Lending Anyone?

Quote:
Originally Posted by vogeltron View Post
To lend out money. I would rather live out of my car before I paid some crazy interest rate to borrow money.
I'd borrow right now if I could!!!!
__________________
What good is it for a man to gain the whole world, yet forfeit his soul?
Reply With Quote
  #11  
Old 02-13-2017
Executive [VIP]
 
Join Date: Dec 2010
Posts: 3,506
Thanks: 254
Thanked 815 Times in 600 Posts
Activity: 5%
Longevity: 77%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

Quote:
Originally Posted by rsot View Post
What do those services charge as the rate of interest on loan?
They charge people a certain amount based on credit score and they charge investors 1-1.5% to "manage" the money. Crazy high management fees.
Reply With Quote
  #12  
Old 02-13-2017
Executive [VIP]
 
Join Date: Dec 2010
Posts: 3,506
Thanks: 254
Thanked 815 Times in 600 Posts
Activity: 5%
Longevity: 77%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

Quote:
Originally Posted by vogeltron View Post
To lend out money. I would rather live out of my car before I paid some crazy interest rate to borrow money.
Not all debt is bad, if debt used in the correct way it can be good. But most people dont use it correctly.
Reply With Quote
  #13  
Old 02-13-2017
Executive [VIP]
Threadstarter  
 
Join Date: Nov 2012
Posts: 3,097
Thanks: 408
Thanked 668 Times in 494 Posts
Activity: 0%
Longevity: 66%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

― Albert Einstein
Reply With Quote
  #14  
Old 06-15-2017
Junior Member
 
Join Date: Oct 2015
Posts: 19
Thanks: 0
Thanked 2 Times in 2 Posts
Activity: 0%
Longevity: 48%
iTrader: (0)
Default Re: Peer to Peer Lending Anyone?

I've tried Lending club last year. IMHO they have big expectations on your credit score to give you a rate that is higher than what you can get from Capital One for example. So I just moved to private investor.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Amazon Lending Inquiry Thargyi Amazon 6 02-15-2015 10:41 AM
Amazon Lending.... user3657 Amazon 22 01-31-2015 01:57 PM


Aspkin Group

All times are GMT -5. The time now is 03:11 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58