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November 30, 2009

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If you know someone with an account already established then can send you a link for $40. I just sent my wife the invite and she will start investing with it, hopefully have the same luck as well. I've been buying notes from them now for about 6 months and have had no problems what so ever. I highly recommend using them.

We love lending club. Been investing for a couple of months so far with great success. We'll see if it continues that way, but we're optimistic!

The high interest rates being offered to lenders show that the borrowers most likely have very low credit scores, are poor risks, and that the loans are unsecured, or they would be getting a secured loan from conventional sources at much lower interest rates. Many of the borrowers seem to be deeply in debt and trying to consolidate the loans they already have into a lower interest rate loan.

Far too risky for me! Gettting rich slowly works, trying to get rich quickly is very hazardous. If you must invest then you should spread your investment over many loans.

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