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  #271  
Old 07-30-2017, 06:15 PM
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win diesel win diesel is offline
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AFAIK, it's like any other debt. Will go to collections at some point, they may hassle the guy, credit score will tank. But basically yeah, free $30k.
Yeah, this fool probably took my $50, the rest of his $29,950 from other people, and is now declaring bankruptcy.

This was from the "bad batch" where I messed up the income filter.

Oh well, since then I've gotten a ton of better guys
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  #272  
Old 07-30-2017, 06:46 PM
George Frankly George Frankly is online now
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Yeah, this fool probably took my $50, the rest of his $29,950 from other people, and is now declaring bankruptcy.

This was from the "bad batch" where I messed up the income filter.

Oh well, since then I've gotten a ton of better guys
I rifled through the data at one point. There are a decent number of past loans where the borrower made zero payments. So yeah, some people are just ripping you off.

I have four garbage loans. One charged off, one in default, two that are a couple months late. Oh well, my average APR is 13.8%, I'm gonna have some jackholes in the group. One more of my loans got caught up so I'm at 6.8% return at the moment.

It's getting hard to buy as many loans as I need to buy, I think I may move from $25 to $50 per loan. I think I'd rather have 200 notes that I like, as opposed to 400 notes, half of which don't meet my criteria.
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  #273  
Old 07-30-2017, 07:12 PM
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win diesel win diesel is offline
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Originally Posted by George Frankly View Post
I rifled through the data at one point. There are a decent number of past loans where the borrower made zero payments. So yeah, some people are just ripping you off.

I have four garbage loans. One charged off, one in default, two that are a couple months late. Oh well, my average APR is 13.8%, I'm gonna have some jackholes in the group. One more of my loans got caught up so I'm at 6.8% return at the moment.

It's getting hard to buy as many loans as I need to buy, I think I may move from $25 to $50 per loan. I think I'd rather have 200 notes that I like, as opposed to 400 notes, half of which don't meet my criteria.
yeah, I'd up it and just get who you want, 200 of your very selective criteria should be enough diversification

Don't give money to turds imo
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