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Its Official...
2008-05-22 13:24:00 Its official, my Prosper Loan has been paid in full! The payment cleared today and my balance is now zero. Hey, I'm all "interest order", but I see where Dave Ramsey is coming from. It feels awesome to knock out a balance. Totally empowering!I'll be proceeding as planned to eliminate the Lending Club balance. That means I'll be saving up to make a large payment on the next due date. I took my own advice and compared the estimated interest payments for each scenario. I'll save about $40 on my finance charges by paying this loan off before my promotional balance credit cards.
By: Me vs Debt
First Lending Club, now NetworthIQ?
2008-05-16 07:49:00 For those of you not in the know NetworthIQ sent the following email to everyone, I presume. Strands Acquires Social Money Site NetworthIQ Second Acquisition in Personal Finance Space to Drive moneyStrands CORVALLIS, Ore. ? May 15, 2008 ? Strands, a leading developer of social recommendation technologies, announced today that it has acquired NetworthIQ, a social personal ...
Debt Repayment Update - How Shoud I Proceed?
2008-05-10 20:31:00 The arrival of my economic stimulus check has me looking ahead at this month's progress. I use a set of spreadsheets to document my cash flow and repayment status each month.Based on these estimates, my debts as of the end of May 2008 will be as follows:Chase CardBalance: $1240APR: Fixed 5.99%Utilization: 65%National City CardBalance: $3396APR: 3.99% until November 2008Utilization: 41%Lending ClubBalance: $2532APR: Fixed 11.66%Utilization: N/A (Total Debts Outstanding: $7168. Only 38% of what I started with!)So I'm right on track - if not ahead of schedule - to meet my December 2008 payoff goal. That rocks! Here's the problem, I'm not sure as to the best way to proceed.There is a major downside to Lending Club loans from a borrowers perspective. They don't have an online payment system. They automatically deduct the agreed upon amount from your account each month. You can pre-pay the entire balance, but only when you are ready to pay in full. At that point you email them...
By: Me vs Debt
The Future of Lending Club - Will they Survive and Thrive, or Crash and Bur
2008-04-16 15:42:00 Last week, Lending Club made a major announcement: they suspended the addition of new lender registrations, stopped current lenders from lending more money, and halted their referral program. This has sparked a lot of debate in the blogosphere regarding what is going on at Lending Club HQ, and what will happen to not only Lending ...
By: Cash Money Life
Lending Club Referral Bonuses and New Lender Registrations Halted
2008-04-09 12:30:00 Lending Club, one of the two major Person to Person Lending companies in the US, announced they are halting new lender registrations and lender referral bonuses for the time being. This is a major announcement in the P2P lending industry. I read the e-mail announcement several times to make sure I understood it completely, and I ...
By: Cash Money Life
Lending Club Business Changing
2008-04-09 02:31:00 photo credit: pfalaRateLadder wrote up an interesting piece - Big Lending Club News ? Quiet Period Underway for Secondary Market - about an email he received from Lending Club about a major change in how they are going to go about their business. Oddly enough he mentions that he got this info via ...
No more Lending Club?for now?
2008-04-08 22:09:00 Lending Club recently sent an email to, presumably, all of the lenders, effectively closing their doors indefinitely. For those of you who may not have received the email here are the highlights. Lending Club has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold ...
Lending Club keeps getting better and better.
2008-04-03 17:45:00 Some time ago, I mentioned getting $100 referral bonus from Lending Club thanks to someone using my link and opening an account with $5000. Well, I have gotten another one! If you have used my referral link to open an account with lending club, please leave a comment. I would like to ...
Free $25 or $50 BONUS for opening account at Lending Club
2008-03-21 22:41:00 What is Lending Club?It's a P2P site for lending money.They have been featured in Business Week, Barron?s, and the Street.From the website:When you refer friends to Lending Club and they become borrowers or lenders, we will deposit a bonus into each of your Lending Club accounts. You will each earn:* $25 when your friend successfully submits a loan application* $25 when your friend opens a lender account with $1-$999* $50 when your friend opens a lender account with $1,000 or moreHere?s what to do:Go though this Lending Club linkFill in your name, email, password, and make up a user ID.Verify your identityAdd your bank account and wait them to withdraw an amount less than $1Wait for a few days, and verify the amount that has been withdrawn.Deposit the amount you want. $1000 in order to get a $50 bonus or $1 to get $25 bonus.Bonus show up 4 days after the initial deposit. My experience has been a positive one. Since I have $1000 in my account that I don?t need, I went ahead and depo...
Free Bonus Money with P2P Lending
2008-03-05 12:35:00 The person to person lending companies, Prosper and Lending Club are currently offering Bonus money for new customers. Here are the details about how you can take advantage of these deals: Lending Club $25 Sign-up Bonus Lending Club is currently giving people $25 just to sign up and verify an account. The process is easy - simply ...
By: Cash Money Life
Are Person to Person Loans Guaranteed?
2008-02-22 15:00:00 I recently received a reader question about Peer to Peer Lending, and I would like to share the answer with everyone. Prosper and LC have become very popular. Are Person to Person Loans guaranteed? First, let’s address the popularity of P2P lending: Prosper and Lending Club have become popular because the P2P lending process gives people another ...
By: Cash Money Life
Paging Lending Club Lender
2008-02-15 20:25:00 I just received a $75 dollar referral bonus from lending club, becuase someone from this site got an account and funded it with $5000. First, I would like to thank that person for using my link! Second, I would like to write a follow up article about your experience setting up the account, ...
Shopping For Loans at Lending Club
2008-02-07 13:00:00 Lending Club is the “Amazon of Person to Person Lending” sites. Why is that? Well, partially because last week I referred to Prosper as the Ebay of Lending. The other reason I refer to Lending Club as the Amazon of P2P Loans is because of their lending process. Making loans through Lending Club is set up ...
By: Cash Money Life
Extensive Lending Club Review with screen shots
2008-01-24 07:43:00 I recently had the pleasure to invest $50 in lending club and documented the entire process for those of you who may be considering trying it out. Finding and funding a Lending Club Loan Lending Club allows lenders to take a very direct approach to lending. Once you have signed up for your account and transfer ...
Lending Club 101
2008-01-15 03:44:00 Now that I have pretty much mastered much of what Prosper is all about, it?s time to take a serious look at their competitor ? Lending Club. As I had stated earlier, the sign-up interface is very smooth. The site has an overall energetic feel and although I hate the color orange, there?s something about ...
By: Jutia Group
Limited Release Lending Club Bonus - Free Money!
2008-01-09 21:33:00 Over the next week I plan on investing $50 in Lending Club so I can give you a better idea of how things work, but you can read about my first impressions in my Lending Club vs. Prosper article. In the mean time, I have had the rare pleasure to participate in a ...
Lending Club: Earning Double Digit Returns in Private P2P Loans to Borrower
2007-12-18 23:34:00 Do you have some extra cash sitting around doing nothing or just earning minimal interests in you bank account? Why not lend it out to borrowers and earn some decent interest rates? LendingClub.com appears to be a new company that is modeling after Prosper.com?s P2P loan business. The average lender is averaging 12.23% per annum, ...
Prosper vs. Lending Club
2007-10-19 18:00:00 I don’t know if you have heard about they relatively new player in the p2p lending arena, but Lending Club open and ready for business. For those of you who aren’t familiar with either p2p lending or prosper check out my article First Impressions of Prosper, and Prosper Update. First Impressions Lending Club Rates Unlike Prosper, the rates ... |
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