It looks like the American borrower is getting further behind. Ain't that a kick in the shins.
Americans are falling further behind on consumer loans, with late payments rising to the highest level since the nation's last recession in 2001, data released Thursday show.
In its quarterly study of consumer borrowing, the American Bankers Association said the percentage of loans at least 30 days past due rose to 2.44 percent in the July-to-September period from 2.27 percent in the previous quarter.
I can't say it enough. Build margin in your bidding because the economy is shifting around and Prosper's statistics will be optimistic in a declining economy. Target a higher ROI and avoid states that are having economic problems.