P2P Lending / NFT Lending Forum

https://forum.lendacademy.com/index.php?topic=1475.msg1#msg1">Quote"> from: Zach on August 23, 2013, 10:09:15 PM

American Pension Services early this month sent my account a letter saying they were were fighting with Prosper and were going to charge me fees to hold my IRA with them. This is something that Prosper indicated would not happen (the fees). I'm not particularly concerned but thought I'd mention it to see if anyone else got that letter (presumably everyone with a Prosper IRA did) and to let you know I spoke to Prosper a little while ago and they are working something out. In short their direction was to ignore the letter and they'd be in touch.

I liked APS because they didn't lose my paperwork and successfully opened my account. I don't like them now because they communicated with me. An intermediary service like this should be invisible to investors (until something goes wrong with Prosper). Their fight with Prosper doesn't really interest me, but I'm concerned I will be asked to pay 1% to change custodians.

all sorts of reasons to pay off early. some people may just need the money for a short time. one month in, they may find other funding, or have fulfilled their need for a bridge and paying 1% on a 30 day loan may still be better than 15% annually for 3 years.

some others may pay off a small loan early to take a bigger loan out. I'm not sure if LC has a repeat borrower preference but they may.

dontpayearly

Tips and other inflation tracking securities are an essential component to a risk balanced portfolio.

I'm surprised that No one has pointed out that with the amount of money printed in this economy over the last few years the risk of inflation is not low. Rates are low and there isn't much inflation today but you want to hold these types of investments as that changes.

Maybe they changed 401k administrators. That may give you a different mix of funds. If you work for a financial firm that sells mutual funds there may be some conflict requiring a switch.

so what happened to this?

http://www.lendacademy.com/secured-loans-are-coming-to-p2p-lending/" class="bbc_link" target="_blank">http://www.lendacademy.com/secured-loans-are-coming-to-p2p-lending/

anybody know?

dontremember

Really pulled it out of the crapper!

Juicy title I know but maybe clearer heads than mine can help think on ways to determine to what extent borrowers crossover/duplicate loans on LC and Prosper. I've got a black heart so I would definitely apply to both sites simultaneously (obviously to have twice as nice of a vacation). I know the loan will show up on your credit report so it will be more difficult to get consecutive loans from  these sites, but what about simultaneous? Nothing is reported until funding and once funding happens, isn't it to late for LC or Prosper to pull back a loan?

dontvote

Yeah -- I'm happy you're taking my money!

I want to give the opposite view: screw them before they screw you. Pay nothing until you have to. Admit nothing.

Dont(you know)

Since mutual funds lag their index returns by an amount approximately equal to their fees, I'm not sure why dollar cost averaging an etf is a bad idea?

It's almost what I would expect if David Foster Wallace applied for a loan.

Probably well covered somewhere but a search couldn't find it. How can I download my notes on Prosper?

I'm not aware of restrictions on opening these accounts. I have a roth, sep, traditional open now, but I pay careful attention to what I contribute to each year.

how often do they change those? I feel like alex from mountain view borrowed $15K at 13.99 percent to pay of his credit cards over two years ago.

dontvote