I was getting recoveries showing up for a couple of weeks after they "repurchased" my outstanding loans. But then I think my activity log also showed them repurchasing the defaulted loans at zero value and I haven't received any recoveries since that time. They did cash out all of my outstanding loans at par value including those that were in late status...so given that some of those would probably eventually default, it's probably somewhat close to a wash with the recoveries now also being wiped out. Although there would seem to be an occasional sizable recovery....not all of them were pennies.
I have now transferred all of my cash from LendingClub to the Alto account and have started the process of moving the funds from Alto to my other Roth Custodian. I don't have the time or interest to start evaluating another "alternative" investment platform. LendingClub was fun while it lasted. Not sure it was ever really worth it....had some great years, but then some awful years and given the tax treatment of gains vs losses (in my non IRA account), I think I'd have done better in regular market index funds over the time. Thankfully it was at least not a "scam" and I didn't lose anything I couldn't afford to.
I still have notes on the taxable side, and they will all reach maturity by September 2024. Seems like I'm getting the best returns ever now as most have aged past the likely default dates and are at high rates. But I'm getting the great returns on just a fraction of the amount I once had invested.
I have now transferred all of my cash from LendingClub to the Alto account and have started the process of moving the funds from Alto to my other Roth Custodian. I don't have the time or interest to start evaluating another "alternative" investment platform. LendingClub was fun while it lasted. Not sure it was ever really worth it....had some great years, but then some awful years and given the tax treatment of gains vs losses (in my non IRA account), I think I'd have done better in regular market index funds over the time. Thankfully it was at least not a "scam" and I didn't lose anything I couldn't afford to.
I still have notes on the taxable side, and they will all reach maturity by September 2024. Seems like I'm getting the best returns ever now as most have aged past the likely default dates and are at high rates. But I'm getting the great returns on just a fraction of the amount I once had invested.