Good news for savers

**DimPrawn** · 11 April 2011, 10:42

See SKA News.

**DimPrawn** · 11 April 2011, 10:43

PS. See my sig.

I've been getting close to 10% return on my cash with Zopa by lending to so called higher risk groups. Not a single bad debt.

**SimonMac** · 11 April 2011, 10:50

I love how the Daily Fail can turn anything into a drama, yes they may quadruple but unless you were a total muppet you would have kept to the higher repayments anyway!

**Ruprect** · 11 April 2011, 19:52

Originally posted by DimPrawn View Post

PS. See my sig.

I've been getting close to 10% return on my cash with Zopa by lending to so called higher risk groups. Not a single bad debt.

Question on this - you lend to one person in particular right? Not like chucking it in a fund where one failure doesn't mean the loss of the whole lot... therefore inherently more risky?

**Ruprect** · 11 April 2011, 19:55

Ignore me, have actually read the site now

**DimPrawn** · 11 April 2011, 20:00

Originally posted by Ruprect View Post

Ignore me, have actually read the site now

Yes, you lend only £50 to each person, so one bad apple does not cause a major loss. Debt collectors hound the fookers to the ends of the earth and beat the ***** to death, which helps too.

I've had no late payments and no bad debt ever.

The money coming back in is lent out again and my wealth grows faster than the mould on AtW's curtains.

**Ruprect** · 11 April 2011, 20:15

Originally posted by DimPrawn View Post

Yes, you lend only £50 to each person, so one bad apple does not cause a major loss. Debt collectors hound the fookers to the ends of the earth and beat the ***** to death, which helps too.

I've had no late payments and no bad debt ever.

The money coming back in is lent out again and my wealth grows faster than the mould on AtW's curtains.

How long would you lend £50 for? The bit I read was lend over £500 and spreads over many borrowers.

**DimPrawn** · 11 April 2011, 20:17

Originally posted by Ruprect View Post

How long would you lend £50 for? The bit I read was lend over £500 and spreads over many borrowers.

Well you can lend for 3 or 5 years term, however the borrower can pay the debt back at any time (to reduce the total cost of their loan) at their discretion. You can also sell the loan to another lender if you need to get the money back quick.

**Ruprect** · 11 April 2011, 20:25

Originally posted by DimPrawn View Post

Well you can lend for 3 or 5 years term, however the borrower can pay the debt back at any time (to reduce the total cost of their loan) at their discretion. You can also sell the loan to another lender if you need to get the money back quick.

Bloody hell, who would borrow £50 over 5 years?!

Good news for savers