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Recoveries

Started by Peter, May 19, 2013, 11:00:00 PM

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AmCap

All - is anybody else being credited with a boatload of recoveries today?


TravelingPennies

$150 or so. I'll know more when I get home since LC is determined to make me use the mobile site on my phone >.<


TravelingPennies

That seems really high. When were most of those loans charged off?

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TravelingPennies


Randawl

That's awesome, great to hear it!  Congratulations!

New Jersey Guy

I got about $6.40 on $433 of principle.  I can retire now.

"My Portfolio" isn't showing any payments in the payment column.  Has it been paid?  I won't believe it til I see it.  I had two defaults in Feb. showing "Check Received" in the payment log.  A month later, no payments were made, and the log entries were deleted.  Hmmmmm.

core


Peter

I am showing a boatload as well in my main account. I haven't added them up but I think it is the 15-20 range but less than $50. Better than nothing.

As for the check received I have seen that before - almost certainly a bounced check. If LC were really going to pocket the money I don't think they would let you know a check was received in the first place.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

TravelingPennies

"It's possible that's what happens when a check bounces?"
"As for the check received I have seen that before - almost certainly a bounced check"


Peter, you should ask about these so-called checks.  I don't think they are personal checks from the borrower.  I think the outside collection company collects the money, then forwards the money back to LC in the form of a check.  That's what "Check Received" means.

Here's my March 1 post showing the 2 loans in question.

http://www.lendacademy.com/forum/index.php?topic=764.msg4037#msg4037" class="bbc_link" target="_blank">http://www.lendacademy.com/forum/index.php?topic=764.msg4037#msg4037

TravelingPennies


TravelingPennies

"when the distressed market froze in January or so (NJ Guy, you should recall this)."

I remember all too well!  Went from riches Q4 2012 to rags Q1 2013.  I have absolutely no explanation for that one.

p2p2p2p2p

Have had recoveries before but not to today's extent. Maybe the collection agency finally sent over a check. Have to remember to report this as a capital gain and not ordinary income, since the losses were written off as capital losses

yaoyao

I have never had a recovery yet.  How do you know that you have a recovery? I did have a charge-off note.   Do you have to click on the notes individually? 

NEW LOANS:   | 870.eth 2.500 Ξ | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | ALL