P2P Lending / NFT Lending Forum

In other news, I accidentally charged a couple of hundred bucks on that Synchrony-issued card that had had its limit chopped in March or so.  The bill showed up in the last few days and my credit limit had been adjusted back up to $10k.  Wonder what they have learned now.

https://forum.lendacademy.com/index.php?topic=21691.msg62060#msg88888888Quote"> from: Fred93 on August 23, 2020, 05:18:24 PM

https://forum.lendacademy.com/index.php?topic=21692.msg62061#msg88888888Quote"> from: lascott on August 25, 2020, 10:03:20 PM

https://forum.lendacademy.com/index.php?topic=21690.msg62052#msg88888888Quote"> from: kib on August 19, 2020, 10:07:08 AM

That's good to know, thank you.  How do you know when your fee is due?  I've never had to pay before, I'd like to give the duds as long as possible to pay off before having to take that IRS penalty (but still not pay the annual fee for what will probably be $50 in outstanding notes). 

It appears like LC is just not processing much of anything, I have several notes that were due for payment on 7/30 that are just sitting there "processing" for almost three weeks now; haven't been paid, haven't gone into grace.  Anyone else experiencing this?

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As of 08.14.20

26 Total hardship

19 "current" (for lack of a better term)

7 fully paid

I have updated the thread regarding my returns:

https://forum.lendacademy.com/index.php/topic,5166.0.html" class="bbc_link" target="_blank">https://forum.lendacademy.com/index.php/topic,5166.0.html

I use LC Picks exclusively as my tool to decide on which loans to invest in.

I attached a screen shot from my account below. It has been going pretty well lately.

Had some issues with my email and had to create a new account.  The previous thread is located:  https://forum.lendacademy.com/index.php/topic,4828.0.html" class="bbc_link" target="_blank">https://forum.lendacademy.com/index.php/topic,4828.0.html

A lot of you guys on here were very kind answering my questions prior to me signing up with Lending Club.  I'll try to give an update monthly or so.

I started buying loans on 09-14-17 and I've been adding several to my account weekly.



Update as of 08.14.20

My annualized return on loans that have paid off is 9.46%.

My Notes at-a-Glance         864

Not Yet Issued                    4
Issued & Current                599
In Grace Period                   3
Fully Paid                           212
Late 16-30                         0
Late 31-120 Days               3
Default                               0
Charged Off                        41
Canceled                            2


Adjusted Net Annualized Return      9.03%
Net Annualized Return                   11.85%
Weighted Average Age of Portfolio  17.2 months

My notes by grade are:

A  23.20%
B  59.40%
C  12.80%
D  3.50%
E   1.10%


I've been using LC picks (see other threads in the forum about them if you are unfamiliar) in order to pick which loans to invest in. My LC picks ranking is 66.9/82.

Thanks again for all who helped out in the past.

https://forum.lendacademy.com/index.php?topic=21690.msg62035#msg88888888Quote"> from: rj2 on August 12, 2020, 01:51:32 AM

Folio closing creates an issue for me. I don't know how I can exit from  LC without paying that annual fee.

My next annual fee is not for nearly 10 months, so it's a long way off, but, with folio closing whatever is going to happen is going to happen THIS month.

I have listed every note that had a maturity date later than my next annual fee, and they have been selling pretty well. There's only two particularly stubborn notes left with poor payment histories, I'm sure eventually I'll discount them enough someone will buy them. I hope... in the next week. The rest of my notes will all mature before the fee.

EXCEPT FOR the "hardship" notes that I can't sell. There are only a couple of them with maturity dates after my annual fee--but if even ONE note is left? Then my account doesn't close and I'm going to have to pony up $100/year or whatever it is until that final notes pays off? I'll be paying $100/year for the privilege of holding what will be by then $5 or $10 note.

There has to be a way out.

https://forum.lendacademy.com/index.php?topic=21671.msg62022#msg88888888Quote"> from: titlewealth on August 08, 2020, 07:06:27 PM

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You will probably do well, people such as myself are selling at a nice discount.  I'm just so over it, but good luck to you.

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