P2P Lending / NFT Lending Forum

@dr.everett and @lascott,
May I ask when was last Charged off note?  Any way to find out recovery from which charged off note?  Wonder whether you're getting recovery notes from notes charged off many months ago.
Thanks.

People can't manage their credit, somehow know who was CEO of LC and that CEO was kicked out and then decided to stop make payments on their loans.
Hack, I did not even know LR was kicked out until I checked this Forum.

Borrower is over 30 days late and "Borrower requested that Lending Club cease and desist all communications" is noted in the collection log.  Did Lending Club cross the line in its collection efforts?  I saw several notes having the same log entry recently.  At the time like this, I feel like I'd better be a Borrower, instead of lenders.

Perhaps, their software to enforce the rule is not working.  https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />  It will take them some time to get it fixed.

Noticed C rated and D rated loans interest rates are lowered.

yojoakak,
Great catch.  I wonder what other LC's funny math cost us.

You draw conclusion and change your lending behavior based on single-digit # of notes charged-off?  That's what you have in your files. 

https://forum.lendacademy.com/index.php?topic=1820.msg14994#msg88888888Quote"> from: Inflationhawk on November 30, 2013, 09:54:56 AM

https://forum.lendacademy.com/index.php?topic=1674.msg13447#msg13447">Quote"> from: GS on October 19, 2013, 11:38:40 AM

I wonder whether the rule only apply to those states that can't invest in LC directly.  Then, one can not open Folio account in an IRA account.

If LC does not allow IRA account trades in Folio, the LC shall not approve Folio application.  In contrast, they readily approved my application and allowed me to trade for many months already.  Not every investor will read all LC rules and check this forum.  In fact, a few months ago when I asked how to liquidate IRA account on this forum, the responses were giving on this forum is to sell at folio.

I wonder anyone actually looks and tracks Account Activities everyday (putting into a DB to track each note activity).  I won't be surprised if LC takes a few pennies on each note and no one really realizes.   I had one note that I received payment BEFORE I bought it from Folio according to Account Activities.  And the payment received in Account Activities page is a few pennies less than showing on My Notes page.   Since I don't spend much time looking Account Activities, I just ignored it.  Yes, I'm pulling my money out a little by little slowly.

It's still in grace period.  The borrower did not use auto payment to make payment and hence there is no payment failed.  It is simply no payment.  LC will not contact the borrower until grace period expired.  Why do you expect LC contact the borrower within grace period? 
You can sell the note with small discount or you hold onto it and take the risk

Going through my spreadsheet and just noticed that one note was "Fully Paid" a couple weeks ago and now become "Current".  Seems LC had retracted payment from note to note.  Anyone has such experience?   

This is the 2nd time I see this type notes.  Borrower had been paying on-time until the latest one.  Then, suddenly borrower contacts LC and provides "Bankruptcy counsel information" while FICO is increasing.  What can be the explanation?

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=1309247&order_id=10140911&note_id=11317980&asking_price=12.00" class="bbc_link" target="_blank">https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=1309247&order_id=10140911&note_id=11317980&asking_price=12.00

https://forum.lendacademy.com/index.php?topic=1371.msg9850#msg88888888Quote"> from: SeanMcD on July 26, 2013, 06:16:37 PM

I'd assume that collection agency will sue the borrower (if borrower did not file bankruptcy) and then garnish the wage.  But LC collection logs do not say any of those.  That's too bad.