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Messages - kcook73

#1
Investors - LC / Credit for Ineligible Loan
December 31, 1969, 06:00:00 PM
You had the opposite problem I had ... I noticed the total number of notes in my account decreased by two, but I didn't no where they went.  After some research (see my thread a couple down from yours out on the same board), I learned 2 were removed for ineligible.

I called support and LC did some type of audit about a week ago and found some fraudulent notes.  LC removed these notes and credited accordingly, but I found all of mine in my May statement, and they were fully paid.  So essentially even though the loan met their fraud criteria to remove them out of their system, it was removed and I wasn't credited anything either.  If you look at your May 2018 statement online, you should be able to find the loan numbers in it - and if they were all $0 credits, then you should find they were already fully paid (and therefore you didn't lose any money on them).  You will find the notes are in order in the PDF file, but there are two groups.

I would assume if they had been partially paid back, and they had to remove for this same reason -- they would credit back the amount left to be paid back. 
#2
I am amazed to see people with $150k + salary that own their house and always had high credit rating default on their loan -- how does that happen, unless they know the ins and outs of the lending system and are running a scam against LC (knowing the loans are backed by 3rd party individuals versus the company itself)?
#3
I have been investing on LendingClub for close to 2 years.  Because returns are comparable to what I can get from bond funds, I have stopped investing returns into new notes and have been pulling my returns out periodically as of the past 6 months.  Given the LendingClub site tracks notes from Active to ultimately being Fully Paid Off or Charged Off, my number of notes has been static since I stopped purchasing new notes.  As of the last couple of days, my total number of notes has decreased by two.  I have not gone to the trouble of digging through last month's statement to find the two missing notes (to see which category they fall into) - but am curious if anyone else has seen this happen before, especially if in the past couple of days.