I think my largest group of borrowers is the "I got shafted by the payday loan people and got stuck with a stupid loan at 50-300%" crowd. Also the 2500 on a 20% CC crowd. The work though is in finding the good ones. I only bid on the ones that sound like they have realized and are trying to correct the root problem that got them into trouble, ie bad spending habits, etc. Some people still haven't figured that out and are just buying time until they really hit bottom. I try to avoid those ones.
I also pretty much never bid on the business related ones. I might buy a % of their business, but I am not taking that kind of risk for the rewards offered. It takes time to find the loans and to make it worth it timewise you really need to bid more than $50 per loan, but I am still in the "its an experiment" phase. [img]/images/graemlins/smile.gif[/img]
A couple of people PM'd me about the spreadsheet I mentioned so I posted it on my Forum project website. You can find it at
www.interestmadesimple.com It's on the front page. It is locked but if you have some good ideas for improvements or corrections and make an account and post them on my site I could probably be convinced to give you the unlock code. [img]/images/graemlins/smile.gif[/img]
Pancho