P2P Lending / NFT Lending Forum

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

from: Shawnthgreta on December 01, 2016, 04:01:51 PM

from: Fred93 on December 01, 2016, 06:24:11 PM

See thread and old article I mentioned here http://forum.lendacademy.com/index.php/topic,3656.msg32425.html#msg32425

from: lascott on December 01, 2016, 10:06:51 PM

Quote"> from: Shawnthgreta link=topic=4200.msg38831#msg38831

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

from: fliphusker on December 02, 2016, 01:57:43 PM

from: Shawnthgreta on December 02, 2016, 03:37:52 PM

from: Shawnthgreta on December 02, 2016, 11:12:54 AM

from: dbailey75 on December 02, 2016, 11:56:25 PM

from: mrwhizzard on May 16, 2017, 10:59:28 AM

from: mrwhizzard on May 16, 2017, 10:59:28 AM

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.

from: dbailey75 on May 17, 2017, 12:13:31 PM

Quote"> from: mrwhizzard on May 26, 2017, 02:35:31 PM