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Roundup of Social Lending News – March 10, 2012

by Peter Renton on March 10, 2012

Every Saturday I bring you the latest news from the world of peer to peer lending. These are the best of the news articles and blog posts from around the web that I shared on Twitter this past week.

There continues to be a lot of coverage of Zopa and the UK p2p lending market in general as the investment returns continue to be highlighted by the press there. We have plenty of other interesting reading this week with interesting articles by The Dollar Disciple and Nickel Steamroller. The Wealth Pilgrim provides a video walk through of his recent Prosper review and we also have a blogger doing his Lending Club taxes. Speaking of taxes I will be tackling mine this weekend and then writing a blog post next week detailing my experiences with that. Fun. Have a good weekend.

Debt Free Adventure – Lending Club Returns [February 2012]

The Dollar Disciple – Adventures in Peer-to-Peer Lending

The Anonymous Widower – Is Now the Time to Invest in Zopa?

Wiseclerk – Zopa Turns 7 – Arranged over 180M Pounds in Loans

Five Cent Nickel – Lending Club Update – March 2012

Nickel Steamroller – Three Reasons You Should Drop Your Managed IRA and Open a P2P IRA

Wealth Pilgrim (video) – Prosper Review

My Money Blog – LendingClub 1099 Forms and Tax Reporting Questions

Investor’s Chronicle (UK) – Lend direct and net 6%

Lending Club Experience – Alright, I’m Ready To Share

The Independent (UK) – The new way to borrow that’s proving a big boon for small fry

{ 8 comments… read them below or add one }

Bilgefisher March 11, 2012 at 8:59 am

Quick question to the blog readers. Have you received any statements in 2012 from prosper? I have not received any monthly statements this year.

Jason

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Roy S March 11, 2012 at 5:50 pm

The last monthly statement I received was on 05 Jan 12 for December 2011. After that, Prosper only shows an End-of-Year Statement and a 1099. I’m not sure why this changed. I didn’t look at half of my statements anyway (probably the same for 99% of everyone else and probably why they got rid of them)…but it was nice to know they were there if I wanted to.

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Peter Renton March 11, 2012 at 6:03 pm

@Bilgefisher/@Roy, I keep looking for them every time I logon but I have not received any 2012 statements. It is actually on my list for this week to follow up with them on this.

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Dennis March 12, 2012 at 4:13 pm

I received this from Prosper on 03/08/12 when I inquired about monthly statements:

“We know how important information about your Prosper.com investment can be, and we are taking steps to make the monthly account statement more useful and easy to read.

The monthly statement for January 2012 is delayed as a result, and we apologize if this causes an inconvenience. We anticipate having the new account statements ready shortly, followed soon after with February statements.”

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Peter Renton March 12, 2012 at 4:49 pm

@Dennis, I appreciate the heads up on this one. I have thought for a long time their statements could do with a redesign.

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Bilgefisher March 13, 2012 at 7:08 am

Shortly is a relative term. I was told shortly in mid-feb. I’m all for improving the statements, but isn’t that something you do on the side to prevent delays in getting any statements out?

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Charlie H March 13, 2012 at 2:06 pm

@ Bilge

Indeed, if the reports were not ready internaly, they should have just sent out the old reports and pushed the roll out date for the “new” reports to March.

The only deadline was there own, they could have easily moved the roll out date and no one would have noticed.

By making the reports late, everyone WILL notice.

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Peter Renton March 13, 2012 at 4:55 pm

@Bilgefisher/@Charlie, Agreed. This has been poorly managed by Prosper. A statement redesign is a good thing, but I would have happily had the old design for a couple more months while they worked on the new one. Not good IT management to inconvenience the customer this way.

Reply

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