Monday, May 14, 2007

Should I Be Worried?

Well, it appears that I have my first delinquent prosper loan. I am wondering if I should worry. It is less than 30 days late right now and this is a person who has been paying for a little while so far. However, now I realize that if this person should decide to not pay, basically all of the profit that I have made using prosper so far is gone.

I knew from the beginning that it was a risk, so I suppose that it is ok. But it makes me wonder if it wouldn't have been better to just put the money in an ING or some other FDIC insured account from the beginning.

Hopefully it works out; if not, file under, lessons learned.

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