I just had a look through this blog and saw "I’m reinvesting all repayments, both principal and interest.". What?!! I can't understand why anyone in their right mind would continue given those stats. I have the feeling that this person could have seen this pattern emerging quite some time ago before things got as bad as this.
Actually, looking deeper into this blog makes me feel quite sad for the guy because he does't seem to be aware of the problem. He is looking towards financial freedom but is counting the net interest reported by Bondora as a real income. He has reported an income of 225.8€ from Bondora in June yet a further 534.08€ defaulted in this time. He is expecting for the net income to start improving with time but since the proportion of principal of a missed payment increases over time, it will diminish at an increasing rate month on month. :-(.