Review of Late Loan #1 | P2P Lending, Peer to Peer Lending, People to People Lending

In a previous post I talked about the consequences to my first late borrower: One Loan Late. Not supposed to happen to AA. What does that mean?

In this post I will review the credit information of the late loan. In order to not get sued I will not tell you specific details of the late loan or the borrower…

AA credit @ 14.88% Interest Rate – DTI <=50%

As a reminder my standing orders only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7 years, and 2 or less public records in the last 10.

I think this is another fine example of a quality standing order borrower and interest rate. But maybe this loan is bad? I don’t think so. This person has AA credit. A collection or delinquency will severely affect them. I think that Christmas got in the way of paying. I predict they will be caught up no latter than the second attempt.

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