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February 17, 2009
My first charge offs at Prosper
Took money out of Prosper today. I hadn’t been there in a couple months when all loans were current. In the last three months I have had three loans go into default and charged off $436.49 of principal. That is against all time interest of $570.25. So my average 11.90% interest rate, risk/charge off, adjusted is down around 2-3%. One more charge off and I am negative on principal.
And Prosper is shut down for new lenders and new loans due to some SEC litigation. Bummer, that market place had such promise.
Posted by Martin at February 17, 2009 2:38 PM
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