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Old 01-25-2011, 12:01 PM
Mama Zappa is offline
Charter Member
Join Date: Feb 2003
Posts: 12,399
Update here. Due to a recent windfall (inheritance), I transferred 200 dollars and have invested most of that (still have 50 dollars of it left to invest). That plus some money I transferred in December, leaves me with a comparatively large number of issued loans awaiting their first payment - 8 loans. I've been picking one or two new ones per week. Mostly Bs, with almost as many As and Cs but Bs definitely dominate. 35 loans outstanding (of which 4 are 50 dollar investments).

Had another loan pay off early, recently - that makes 3. Weirdly, the first one which paid off (after having been late the first month, they paid in full the next) has another collections action against it ("contacted 3rd party or borrower's acquaintance") as of November - 8 months after it was paid off. Weird.

Met one goal this month - a silly one, but still: I now have due dates spanning the entire month with no more than 1 day gap between them. So every day or two, there'll be cash hitting my account. And there are enough loans now paying that I should be able to fund a new one just from the proceeds, slightly more often than once a month.

No new troubled loans so far, not even the one D class loan. Of course that's only been 9 months, but the credit score is unchanged so hopefully the borrower is stable.