Peer to Peer lending-thoughts/experiences

[brennan.]

Originally Posted by nuthin' fancy

You need to understand how they determine the risk profile of their clients.

If this suits your risk profile (i.e. can you sleep), investigate further. Is there an option to spread the investment across more than 5 loans?

Is there an option to invest in Harmoney (rather than providing funds for them to lend)?

That's one thing that has me a little worried, the client can simply lie on the application and if its not detected then that person can be given a good "rating" on the site when really they can't afford the repayments at all.
I believe it is possible to have more than 5 loans on the go at once, that's one of the main reasons why I'm still thinking about it, at least i can try and minimize losses by spreading the money out. I'll have to look into the option of investing in the company itself instead the loans, but i think I'll give it a go, not with all my savings at first maybe I'll have a play around with $500 and see how it goes.

Thanks for your input, I'll update the thread with the good and the bad if and when they happen.

Cheers.