Originally Posted by
ddutil
I understand the difference between default and delinquency. Kiva considers something delinquent for a really long time before they consider it defaulted. That number I gave is the default rate. Believe me, I wish it wasn't.
The dollar amounts are not huge and I can afford it. My point is that somebody might read the glowing reports on here and toss in $10,000 trying to meet some card bonuses (remember, this is FT) and lose a lot of money that they cannot afford.
Sorry that you have had such a problem with defaults. I had a $25.00 loan default with nothing paid back within my first few dozen loans. So, my default rate was similar to yours. That was in 2010. Since then I have made more than 600 loans and lost only $4.49 more. So, now my default rate is 0.26%.
hopefully you will be like me - unlucky at first and then do very well later on.