Quote:
Originally Posted by Peaches
Here are my current stats as far as loans:
Active loans: 273
Payment status:
241: Current
11 Paid
1: Payoff in progress
10: Late (<15d)
3: Late
5: 1 month late
4: 2 months late
9: 3+ months late
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So out of 273 loans only 9 are 3+ months late and of those 9, six of them are HR. I would say you are not doing bad at all. Sounds like you did a lot of HR loans so I am sure you have a good bit of them that are doing ok as well.
When i see someone with bad credit that is a HR I see someone with nothing to lose. Their credit is already messed up, so what incentive do they have to pay off this loan if they hit hard times again. Especially the one who are saying " trying to give it one more try' or "trying to repair credit" etc.. people who have shown once before they messed up and ruined their credit. Now they have nothing to ruin (it is already messed up), so even easier for them to just say fuck it and not pay the loan. I know this is not true in all cases and some people do turn it around, take advantage of a second chance etc.. but I personally prefer to invest my money and not gamble. I think that HR is a gamble, A,B is an investment, and C,D is an investment with a higher risk.
I think we both agree on the sweet spot, the person with the B,C rating that you can get 14 - 18% return on your money.