I am a very small investor on both Prosper and Lending Club. Recently, my LC portfolio got slammed to -2.57 due to a flurry of late and charged off loans. Oh! The pain in my little purse! Anyway, I was considering complete liquidation when I did a little study of the Folio platform and decided to try sell-off of all unseasoned loans, but use money to reinvest only in seasoned loans on folio with less than 15 payments left. I even bought a couple with less than 5 payments. My Folio notes return is projected at 23.32% now, and combined (with adjusted for past due) is now -59. I guess that's better than -2-57? Is there nya good long-term strategy for recouping losses and getting my P2P back on track?
Any advise would be very appreciated. I have my late and grace period notes up for sale at deep discounts (abt-30%) but no takers.
I also wish in some ways I could liquidate Prosper because they don't offer secondary market anymore, and I could use the liquid investment money to work with, but they are outperforming what I see on LC right now. Any advise there?
Thank you!
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