No. of Recommendations: 1
I would question the default rates that have been quoted. I still have outstanding loans on and can tell you that the default rates are much higher in reality than how they were advertised. If you look at, you will see that someone has aggregated the return for all of the portfolios held at and the default rates.

It looks like someone is trying to do the same for lending club also. Go to and you will see a similar presentation. The current default rate is 4.2%. Note that the number of loans over 30 days late is also 4.2. It has been my experience that once these loans go late, they don’t come back.

I would suggest that you visit the lender forum on this site and see what type of issues they are discussing before opening an account.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.