P2P Lending / NFT Lending Forum

Lending Club Discussion => Investors - LC => Topic started by: GS on June 05, 2015, 11:00:00 PM

Title: "Borrower informed Payment Solutions specialist that payments will be mailed"
Post by: GS on June 05, 2015, 11:00:00 PM
Collection Log:  "Borrower informed Payment Solutions specialist that payments will be mailed"

I've only seen this posted once before, but I just got another one.  In both cases, it was a "current" loan, never late, with FICO holding up ... this was the first and only collection log post. 

The last time I saw it, it was followed a few days later by Bankruptcy notice.

What's your experience with this?  Should I be worried.  Sell it first chance I get?

Title: "Borrower informed Payment Solutions specialist that payments will be mailed"
Post by: kya on June 05, 2015, 11:00:00 PM
i usually get a bk notice a week or so later when this pops up...sorry for the news
Title: "Borrower informed Payment Solutions specialist that payments will be mailed"
Post by: TravelingPennies on June 05, 2015, 11:00:00 PM
If this one goes off "pending", it's going to get sold.
Title: "Borrower informed Payment Solutions specialist that payments will be mailed"
Post by: Victor on June 06, 2015, 11:00:00 PM
I believe that I have seen this note in the collection log, two or three times.  Once, a manual payment was processed a week or two later and as far as I remember the note went current.  The other time, the note was followed a month or two later with no payment and a Chapter 7 filing.  I consider this note the proverbial, "Check's in the mail!" with attendant consequences.
Title: "Borrower informed Payment Solutions specialist that payments will be mailed"
Post by: TravelingPennies on June 10, 2015, 11:00:00 PM
Well, I called that one right.  Luckily, I was able to sell it for $15 a couple of days ago, but I've been watching it and it got the BK note today.