P2P Lending / NFT Lending Forum

I just noticed this change as well for the first time yesterday. I used to go to my defaults and look at the recent ones and be able to get a feel for the losses I've recently incurred as well as if they are newer loans or more seasoned loans. Now just seeing a column of zeroes doesn't give me any feel for my losses. Maybe that's their intention.

Or maybe there was something "wrong" with them showing a supposedly "worthless" asset as having value from an accounting/legal point of view?  If that's the case, I'd rather they change the column heading to "Amount written off" and keep the values.


Sent from my iPhone using Tapatalk

They do twice per month.  Once around the 15th and once on the last business day.  Around 7:30pm Central time last night I could refresh my main screen and watch my account value drop every few minutes as the defaulted loans were written off one by one.


Sent from my iPad using Tapatalk

Well, October 2016 just went down as my first month with more charge offs than interest earned. And I get to pay tax on all of the interest but have more losses this year than I'll be able to write off against other investment capital gains.  I can carry it forward, but I can't keep going with this trend. I'm moving to more conservative notes in my taxable account, but if the losses continue, I'll be reducing my account significantly.  Have gone from 9-10% returns to barely holding flat this year.  LC better get its act together.


Sent from my iPad using Tapatalk

So is this the new product that was supposed to be unveiled before the events of last May happened?


Sent from my iPhone using Tapatalk

https://forum.lendacademy.com/index.php?topic=4146.msg1#msg1">Quote"> from: Fred93 on October 27, 2016, 10:52:58 PM

Most of mine were a fraction of a penny. My highest was $0.13. 


Sent from my iPhone using Tapatalk

My Updates:

In May I stopped all reinvestment on my Standard Account for about 2 months and withdrew cash to invest elsewhere.  I resumed investing in July but changed to a much more conservative mix as I can't make use of all of the capital losses I've been racking up with defaults.  In fact, in September, my defaults were equal to 81% of the interest I earned on the account.  I'm hoping to start seeing a decrease in defaults soon, although there seems to be a healthy queue of late notes marching toward default at the moment.  :-( 

Going forward my Standard Account is reinvesting using the BluePicks Moderate tool from BlueVestment.  My IRA is using NSRPlatform's NSR Aggressive tool.  We'll see how that goes for a while.

I'm still around, but not as excited about LC as I used to be.  Have less time to fully track it as well these days, so have moved to fully automated investing in a "set it and forget it" fashion.

Measure         Standard Account                 IRA Account
ANAR             8.31                                      7.48
WAIR             17.75                                    19.20
WAAoP          25.2                                      17.5
#Notes           13,125                                  1,822
WAIR-ANAR   9.44                                      11.72
A                    3.5                                        0.0
B                    13.6                                        0.2
C                    15.6                                        20.1
D                    20.8                                      30.0
E                    25.9                                       28.5
F                     17.2                                       18.6
G                    3.4                                         2.7
36                  38.2                                        33.8
60                  61.8                                       66.2
Q                    85.78                                     75.36
R                    92.39                                     88.32
S                    86.28                                     80.71
                      No Folio                                  No Folio

2016 XIRR      5.85                                      4.12

https://www.lendingclub.com/public/how-peer-lending-works.action" class="bbc_link" target="_blank">https://www.lendingclub.com/public/how-peer-lending-works.action


Sent from my iPhone using Tapatalk

https://forum.lendacademy.com/index.php?topic=4052.msg1#msg1">Quote"> from: bdonovan on August 13, 2016, 01:30:16 AM

If I enter a withdrawal early morning, it will be in my bank account next day. I'm not sure where the cutoff time is, but if I make the withdrawal later in the day, it will take an extra day. It always shows up in my bank account the next business day after getting the withdrawal confirmation email from LC.


Sent from my iPhone using Tapatalk

LendingClub uses Self Directed IRA Services for their IRA administrator. You may want to check with them to see if they offer individual 401 (k) plans. http://www.sdiraservices.com" class="bbc_link" target="_blank">www.sdiraservices.com


Sent from my iPhone using Tapatalk

It always decreases when I add money to my account. :-/


Sent from my iPhone using Tapatalk

https://forum.lendacademy.com/index.php?topic=3877.msg1#msg1">Quote"> from: sommers on May 27, 2016, 05:35:44 PM

Should we be worried that we haven't seen the promised 10Q yet?  Or is that something that would most likely be released after market close in any case?  Hopefully it will come out as promised and then management will start opening up with some updates on what they know.  I'm still sitting on my IPO LC shares and figure they will never be worth what I paid....I just hope things don't get any worse.

https://forum.lendacademy.com/index.php?topic=3810.msg34214#msg34214">Quote"> from: investny on May 09, 2016, 01:58:31 PM