I decided to completely wind down my LC accounts after hearing the news of Folio closure. However, it will be a lengthy ~5-year process, because I have tens of newly released 60-month notes in the hardship program.
So, I am thinking about at least making the annual tax reporting easier, by consolidating multiple LC taxable accounts into a single one. I called LC's customer service and an agent said there would be no way to consolidate either taxable or IRA accounts (even no way to convert funds in a IRA account to a LC taxable account, which is not correct per https://forum.lendacademy.com/index.php/topic,21690.msg62036.html#msg62036" class="bbc_link" target="_blank">https://forum.lendacademy.com/index.php/topic,21690.msg62036.html#msg62036). It looks that the agent is not very experienced.
Does anyone have experience to consolidate multiple LC taxable accounts? I would like to get some inputs in the forum here before calling LC agents again.
So, I am thinking about at least making the annual tax reporting easier, by consolidating multiple LC taxable accounts into a single one. I called LC's customer service and an agent said there would be no way to consolidate either taxable or IRA accounts (even no way to convert funds in a IRA account to a LC taxable account, which is not correct per https://forum.lendacademy.com/index.php/topic,21690.msg62036.html#msg62036" class="bbc_link" target="_blank">https://forum.lendacademy.com/index.php/topic,21690.msg62036.html#msg62036). It looks that the agent is not very experienced.
Does anyone have experience to consolidate multiple LC taxable accounts? I would like to get some inputs in the forum here before calling LC agents again.