A mind that is stretched by a new experience can never go back to its old dimensions.

Do Not invest in Lending Club

July 23rd, 2018 Posted in general

If ever you thought that peer-to-peer lending is a good way to make money, trust me, it is not. I’ve lost a few thousand dollars with Lending Club, and am having a hell of a time getting my remaining cash out of LC.

This is what my current statement looks like. Insane amounts of fees, failed recovery attempts from borrowers, and overall disappointment. I chose a high-risk portfolio and accepted that, but never expected to lose so much and still pay such ‘investor fees’.

Post a Comment

CommentLuv badge