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Lending Club Discussion => Investors - LC => Topic started by: Shawnthgreta on December 01, 2016, 12:00:00 AM

Title: Lending Club Collection Actions
Post by: Shawnthgreta on December 01, 2016, 12:00:00 AM
A few questions:

1. What does a borrower telling LC "cease and desist" mean, does this mean LC will no longer attempt to collect?

2. What does the typical collection cycle look like?

3. What is an "advanced collector"?

Feel free to give any other insight into the collection process LC uses.

Thanks
Title: Lending Club Collection Actions
Post by: Fred93 on December 01, 2016, 12:00:00 AM
from: Shawnthgreta on December 01, 2016, 04:01:51 PM
Title: Lending Club Collection Actions
Post by: TravelingPennies on December 01, 2016, 12:00:00 AM
from: Fred93 on December 01, 2016, 06:24:11 PM
Title: Lending Club Collection Actions
Post by: lascott on December 01, 2016, 12:00:00 AM
See thread and old article I mentioned here http://forum.lendacademy.com/index.php/topic,3656.msg32425.html#msg32425
Title: Lending Club Collection Actions
Post by: TravelingPennies on December 02, 2016, 12:00:00 AM
from: lascott on December 01, 2016, 10:06:51 PM
Title: Lending Club Collection Actions
Post by: anabio on December 02, 2016, 12:00:00 AM
Quote"> from: Shawnthgreta link=topic=4200.msg38831#msg38831
Title: Lending Club Collection Actions
Post by: fliphusker on December 02, 2016, 12:00:00 AM
I am curious to expand this thread a bit, not trying to derail it. 
I am curious about how bankruptcies are handled.  My very first BK note was a straight roller for $10k after 1 payment and LC stated Quote
Title: Lending Club Collection Actions
Post by: TravelingPennies on December 02, 2016, 12:00:00 AM
from: fliphusker on December 02, 2016, 01:57:43 PM
Title: Lending Club Collection Actions
Post by: Rob L on December 02, 2016, 12:00:00 AM
from: Shawnthgreta on December 02, 2016, 03:37:52 PM
Title: Lending Club Collection Actions
Post by: TravelingPennies on December 02, 2016, 12:00:00 AM
from: Shawnthgreta on December 02, 2016, 11:12:54 AM
Title: Lending Club Collection Actions
Post by: mrwhizzard on May 15, 2017, 11:00:00 PM
from: dbailey75 on December 02, 2016, 11:56:25 PM
Title: Lending Club Collection Actions
Post by: TravelingPennies on May 15, 2017, 11:00:00 PM
from: mrwhizzard on May 16, 2017, 10:59:28 AM
Title: Lending Club Collection Actions
Post by: TravelingPennies on May 16, 2017, 11:00:00 PM
from: mrwhizzard on May 16, 2017, 10:59:28 AM
Title: Lending Club Collection Actions
Post by: SMWinnie on May 25, 2017, 11:00:00 PM
Apologies if I missed this, but does Lending Club provide any summary data on whether/when/how often it pursues defaulting borrowers and recovery rates?

I'm wondering if LC is starting to get a larger proportion of borrowers gaming them by borrowing before a planned default. It would be nice to see if default after 0/1/2 payments has increased through 2016 and into 2017.
Title: Lending Club Collection Actions
Post by: TravelingPennies on May 25, 2017, 11:00:00 PM
from: dbailey75 on May 17, 2017, 12:13:31 PM
Title: Lending Club Collection Actions
Post by: mrwhizzard on June 05, 2017, 11:00:00 PM
Quote"> from: mrwhizzard on May 26, 2017, 02:35:31 PM