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Anyone have info or experience with lending clubs?

Thread in 'Finance / Investing' started by chucklenut, Dec 23, 2019.

  1. chucklenut

    chucklenut The Hen that laid the Golden Legos

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    offers peer to peer loans and the average returns is between 7 and 12% according to a few blogs I’ve read

    Anyone know anything about these? I just found out about it myself
     
  2. Cadcom

    Cadcom The Hen that laid the Golden Legos Supporter

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    I used one after my divorce several years ago. Took 3 very high credit cards (thanks ex-honey!) and rolled them into 1 monthly payment that cut the credit card interest rates by 2/3. They charge a "processing" fee that varies on the amount you borrow on top of the agreed interest rate. If I had to do it all over I would probably go home equity loan or talk to the bank first.
     
  3. KrisD

    KrisD ODT Junkie!

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    Yeah they are $$ but they are easy to work with
     
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  4. chucklenut

    chucklenut The Hen that laid the Golden Legos

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    Hmmmm so you used them as a borrower; what about as a lender
     
  5. Cadcom

    Cadcom The Hen that laid the Golden Legos Supporter

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    Never looked into that. I'm to busy "lending" money to the dang kids that live in my house!
     
  6. HUNTING

    HUNTING ODT Supporter

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    Wages are low and everything cost a fortune to live, cut them some slack
     
  7. Cadcom

    Cadcom The Hen that laid the Golden Legos Supporter

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    Well they are 20, 15 and 13. I guess I could.
    But wages seem to be fine at my office and in my 20 yr olds chosen field (once she graduates)
     
    chucklenut, Bagman and HUNTING like this.
  8. KrisD

    KrisD ODT Junkie!

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    I did a 40k loan to consolidate years ago. Im on my finale 9 months.

    I think i got 38k total and after all the crap i pay back 44k.

    I hate debt to pay debt but at the time i had to make a move for my company
     
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  9. 41mag

    41mag CONFEDERATE DESCENDANT Supporter

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    Got anymore room ? I need a new daddy. whats my new mommy look like?
    J/k brother ! Lol. Merry Christmas!
     
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  10. Cadcom

    Cadcom The Hen that laid the Golden Legos Supporter

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    New mom is pretty hot. But you can't call me deddy out in public!
     
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