Prosper Progress Report - June 2008
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| Breakdown of Investment | |
| Original Investment | $650.00 |
| Interest Reinvestment | $71.37 |
| Breakdown of Loans | |
| Total Active Loans | 13 |
| Total of Loans Late | 1 |
| Total of Loans Defaulted | 0 |
| Total of Loans Paid Back In Full | 1 |
| Breakdown of Interest/Payment | |
| Average Interest Rate | 24.70% |
| Daily Interest Accrual | $0.48 |
| Total Monthly Payment (Including Interest) | $31.55 |
| Breakdown of Income | |
| Interest Earned | $12.35 |
| +/- Increase Over Previous Month | $1.25 |
| Interest Earned Year to Date | $60.87 |
Summary of Investment
My income decreased this month due to a late payment which cleared in July so it is not counted here. it will boost the income for July but should settle back to normal in August as long as the borrowers continue to make regular monthly payments.
The DIA (Daily Interest Accrual) decreased by 1 cent a day due to a lower balance and no additional loans. I did not add a new loan this month due to my Prosper limits but will have enough repayments in July to add a new loan which should increase the DIA.
Overall, it has been good to me so far. It does not seem like the credit crunch is affecting my borrowers’ ability to pay back their loans despite their credit grades at the time of the loans. It really seems to have helped those who took out these loans to consolidate their high-interest debts because those are the ones with the most consistent payments.
Comment by passivefamilyincome on 14 July 2008:
Mark - I agree that it doesn’t appear that the credit crunch has had that much impact on people paying back their Prosper loans. I currently have 42 loans, of which one is 1 month late and two are in Late status. I am only bidding on loans where people are trying to consolidate their credit card debt into lower payments.
passivefamilyincome’s last blog post..May 2008 - Family Budget Review
Comment by Mark from TheLocoMono on 14 July 2008:
I just got my first “Late” status this month, the payment was in transit but did not clear so it will be interesting to see how that one works out because the loan was only 2.5K. It seems like Prosper is offering those with high interest loans a terrific “snowball” opportunity.
Mark’s last blog post..Keyword Madness