Anyone invest in Lendingclub.com?

[Julian]

Looks like an interesting model, although it also looks like I can't invest from North Carolina....

Critial
http://www.cbsnews.com/news/the-lending-club-a-critical-review/

Positive:
http://www.mrmoneymustache.com/the-lending-club-experiment/

 

[Volffas]

I invested $25 a little over a year ago and really haven't checked on it until I saw this post. It shows that I am making a "Net annualized return" of 14.49%. It says I have received $3.26 interest so far. All in I have been paid back $7.79 in principal and $3.26 in interest.

The biggest issue (and it says this all over their site) is that these are unsecured loans and you are basically just taking the person's word for it that they will pay you back. You could lose your money and really not have much recourse.

But I like the model of the site and the way that it can give people in debt a way to consolidate bills with lower interest rates and payments.