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HELP! LC portfolio got slammed to -2.57!!!

Started by Peter, September 16, 2017, 11:00:00 PM

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Rhonda9080

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!



twigster

I started liquidating Prosper a while ago by turning off re investment.  We will see how long it takes to run the entire accounts out (ROTH and regular).  I had less in there than in LC.  The returns were lagging LC and then when they took away the secondary market that kind of cinched it.

TravelingPennies

Yeah, Prosper's lack of secondary market outlet makes me nervous. https://forum.lendacademy.com/Smileys/default/undecided.gif" alt=":-" title="Undecided" class="smiley" />


yojoakak

You lost $2.57? Whelp... there goes retirement.




TravelingPennies

Didn't know that about deceased! ****I like your Will Rogers quote so much!

NEW LOANS:   | 870.eth 2.500 Ξ | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | ALL