Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [peer-to-peer-lending]

46 questions
27
votes
3 answers

Ask mother to pay off entire student loan, then pay her?

To avoid paying additional interest on my student loans, I want to ask my mother to pay off the entire loans with by lump sum, and then I would pay her back with interest. Are there any issues regarding taxing for this? (In NJ)
user
  • 1,507
  • 1
  • 11
  • 11
26
votes
7 answers

Peer to Peer Lending Sites - Good Investment or Insane?

Does anyone have personal experience with lending on sites like Prosper.com? Do they have a handle yet on what the yield and default rates are? Last time I looked at it, they didn't have a ton of data because none of the loans had gone to term. If…
John Shedletsky
  • 1,381
  • 1
  • 11
  • 22
18
votes
3 answers

Are peer-to-peer loans viable options for savings/investing?

Now that peer-to-peer sites like Lending Club and Prosper have matured are they viable options to add to my savings/investment portfolio or should I only use them with extra cash?
brainimus
  • 976
  • 9
  • 20
12
votes
2 answers

What are advantages & disadvantages of using a Peer-to-Peer lending site or network?

If I was looking to consolidate some credit card debt and wanted to use a peer to peer lending service, what things do I need to look out for?
Jeff Martin
  • 819
  • 1
  • 8
  • 10
12
votes
5 answers

What fraction of a portfolio should P2P lending comprise?

Based on what I understand, traditionally we are supposed to put 70% money in stocks and 30% money in bonds (based on individual age, I am 33 right now). I have been experimenting on P2P lending and robo investing and I think there is a space for…
Ved
  • 445
  • 1
  • 5
  • 12
12
votes
1 answer

What are the tax implications of a LendingClub loan writeoff?

I've invested some small amount of money in LendingClub notes. I wrote about it in my blog, if anyone is interested. Overall it seems to be working great, I spread my investment over a broad variety of loans with various ratings, and have (in…
littleadv
  • 190,863
  • 15
  • 314
  • 526
8
votes
3 answers

Compare and contrast lending services: Lending Club and Prosper?

Of these two peer-to-peer lending services, Lending Club and Prosper, which have you had a better experience with? What are the advantages and disadvantages of each? Of course, this can be a nuanced answer, and each may be better for certain uses.
Agypsykaravan
8
votes
1 answer

Peer to peer lending in Canada?

Is there a service similar to Lending Club in Canada or is it possible to use Lending Club without having a U.S. bank account? Edit : If you have an answer that might help with opening a U.S. account and accessing a U.S. peer-to-peer lending website…
user5924
7
votes
2 answers

How is peer-to-peer lending taxed in the US?

If I make a $1000 investment in peer-to-peer lending, then are the repayments simply taxed as interest payments, similarly to interest earned in a savings account, or is there a reflection of the cost basis like you have when investing in stocks or…
Hari
  • 419
  • 2
  • 13
7
votes
4 answers

Is SoFi too good to be true?

I'm considering refinancing some student loans with SoFi from a variable rate of 6% (based on the LIBOR) down to a variable rate 4.16% (based on the LIBOR). The new rate, once I setup auto-pay will include a 0.25% rate reduction, bringing the…
blong
  • 171
  • 1
  • 1
  • 5
6
votes
1 answer

What's the proper way to calculate ROI per year given the ROI for a period of time?

I'm trying to figure out what would be my yearly ROI if I know my ROI for a given period of time. On May 1st, I started invested 8.82 BTC in loans on BitLendingClub and now (August 6th) I have 9.33 BTC. For the 97 days I've invested, my return has…
Kiril
  • 265
  • 2
  • 7
5
votes
1 answer

What P2P lending services are available to Ohio residents to use, as a lender?

I live in Ohio, and Lending Club and Prosper are unavailable for me to utilise as a lender. Are other P2P services available for Ohio residents? Are there alternative but similar lending strategies that someone in Ohio could use?
gunit888
  • 153
  • 1
  • 3
5
votes
3 answers

How to diversify P2P lending accounts?

I've been interested in peer-to-peer lending for 3-4 years now since I first heard about it with Prosper.com. I've since heard about Lending Club, and this Q/A gave me a lot of insight. In particular, once answerer says he diversified by dropping…
NoCatharsis
  • 775
  • 2
  • 7
  • 11
5
votes
1 answer

P2P lending sites - What was their history in 2008 and how safe is your money in a recession

I recently read a lot about P2P lending sites and their favourable interest rates but the skeptic in me wants to get more opinion from real people here with experience (and not blogs that get affiliate profits) of using these sites. Was anybody…
bp2010
  • 462
  • 2
  • 5
  • 10
5
votes
1 answer

How to diversify across P2P lending platforms?

In the UK there are plenty of peer to peer lending platforms, certainly 20+. Most offer returns of around 5% but a small handful offer above 10%. As far as I'm aware, in the US there are only a small handful of main P2P platforms and the returns are…
F Chopin
  • 183
  • 4
1
2 3 4