My first charge offs at Prosper

Took money out of Prosper today.  I hadn’t been there in a couple months when all loans were current.    In the last three months I have had three loans go into default and charged off $436.49 of principal.  That is against all time interest of $570.25.  So my average 11.90% interest rate, risk/charge off, adjusted is down around 2-3%.  One more charge off and I am negative on principal. 

And Prosper is shut down for new lenders and new loans due to some SEC litigation.  Bummer, that market place had such promise.