So I've had three total defaults since I started. The one mentioned a few months back and two other ones. Right now I have 3 that are in the 61-90 days late.
The pattern I'm seeing is once it hits that mark of being late, it's pretty much a definite default. Prosper did sell one of my defaulted notes and credited my account like $2 and change. I guess it's a new system where they sell the defaulted note off to a debt buyer and you recover about 10% of the purchase price. (I usually just invest $25) It does help to recover some of the cost and I'm sure it will add up over time.
I also am seeing many more notes being shown as late. I think with the defaults this month may be the first month I don't see a positive return. I've been getting like ~$50 a month passive. Will update once my return numbers are updated with the defaults added in.
The pattern I'm seeing is once it hits that mark of being late, it's pretty much a definite default. Prosper did sell one of my defaulted notes and credited my account like $2 and change. I guess it's a new system where they sell the defaulted note off to a debt buyer and you recover about 10% of the purchase price. (I usually just invest $25) It does help to recover some of the cost and I'm sure it will add up over time.
I also am seeing many more notes being shown as late. I think with the defaults this month may be the first month I don't see a positive return. I've been getting like ~$50 a month passive. Will update once my return numbers are updated with the defaults added in.