Latest Posts
Home > Debt Articles > Why I’m Investing $1,000 to Help People Consolidate Their Debt.

Why I’m Investing $1,000 to Help People Consolidate Their Debt.

I’m old enough now to learn that I should never say never about anything. There was a time that I was very anti peer-to-peer lending and thought there were no longer any opportunities for people to get unsecured debt consolidation loans.

My initial uncertainty and hesitancy about this form of lending was supported by what I observed in the early days of P2P lending where people lent money in pools to borrowers in need. The early days with other companies seemed to show that there was little management of lender risk and the default rate among borrowers was high.

But with a bit of time and experience at least one company, LendingClub, seems to have created a system that provides lender protection. Now don’t be fooled, when you borrow from LendingClub they are very strict about payments. Miss a payment or late with a payment, collectors will call and as a lender, I enjoy the fact they are working hard to protect my investment.

But by being strict about repayment LendingClub creates an environment that creates more comfort for people just like me that want to invest as little as $25 to help someone in need.

LendingClub openly publishes their statistics about loan status and borrower payments through the Latest Performance Statistics section of their site.



Get Out of Debt Guy – Twitter, G+, Facebook

Need More Help?
Choice3Get Out of Debt Guy – Twitter, G+, Facebook

Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.