I have had my share of uneasiness regarding my investments/loans made at Lending Club. I think most of this stems from not understanding how easy it is for folks to walk away from obligations. I truly began this endeavor with the hopes to help people reach a better financial place, while earning myself a little cash. Not much cash - about $10 a year, but something.
With two years of time under my belt things are still looking decent. I have made 14 loans all together. 4 of those loans have paid in full and hopefully arrived at a more financially stable position in life. All the others continue to pay as agreed. SWEET!
As you may recall I have been withdrawing funds invested here. The goal has been to only leave dollars earned on this system in this system. Not completely eliminating my risk, but decreasing it to a level that wouldn't have existed without this program at Lending Club.
My Lending Club account is currently 58.3% Free Money (i.e. money earned there). So, I still need to take 41.7% out with regular withdraws. Crossing the fifty percent is a nice place to be, in my opinion.
I've seen other bloggers losing money and sharing their intentions of pulling out completely. I'm still thinking that I will continue to let the money ride.
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