Ratesetter

[Starofdavid]

Found this website .. I would be a little scared but it offers big returns

Www.ratesetter.com.au

Apparently you lend money to people...you can lend $2000 the same day... And you can set your own loan length and Rate !!!
I want to see if I can lend $2000 at 30% for a month?

And the rate setter is a middleman I think.. Seems good but I don't want to lose my cash I worked so hard for.
Anyone done it ?

 

[Heinz57]

Not quite I think. Best I have seen is 10.1% over 5 years. Only real P2P lending site in Oz

 

[Starofdavid]

Is this a good site to lend money to?
I would like to lend $2000 to see how it works.

 

[Propertunity]

I want to see if I can lend $2000 at 30% for a month?

In this case I think high return = high risk. What sort of "customer" do you want who cannot get finance at a better rate than 30%pa?

These types of lender organizations usually have debt collection "facilities" but I don't like your chances of collecting, if the loan goes bad.

 

[Rolf Latham]

Return on capital

v

Return of capital

in such an efficient environment, I doubt 30 % will fly

ta
r

 

[Jamie_]

It amazes me how certain people have managed to sign up for a forum account all on their own. Must have taken hours