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Author Topic: Lending Club Collection Actions

S
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Lending Club Collection Actions
OP: December 01, 2016, 12:00:00 AM
A few questions:

1. What does a borrower telling LC "cease and desist" mean, does this mean LC will no longer attempt to collect?

2. What does the typical collection cycle look like?

3. What is an "advanced collector"?

Feel free to give any other insight into the collection process LC uses.

Thanks
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l
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Lending Club Collection Actions
#3: December 01, 2016, 12:00:00 AM
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a
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Lending Club Collection Actions
#5: December 02, 2016, 12:00:00 AM
Quote"> from: Shawnthgreta link=topic=4200.msg38831#msg38831
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f
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Lending Club Collection Actions
#6: December 02, 2016, 12:00:00 AM
I am curious to expand this thread a bit, not trying to derail it. 
I am curious about how bankruptcies are handled.  My very first BK note was a straight roller for $10k after 1 payment and LC stated Quote
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S
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Lending Club Collection Actions
#13: May 25, 2017, 11:00:00 PM
Apologies if I missed this, but does Lending Club provide any summary data on whether/when/how often it pursues defaulting borrowers and recovery rates?

I'm wondering if LC is starting to get a larger proportion of borrowers gaming them by borrowing before a planned default. It would be nice to see if default after 0/1/2 payments has increased through 2016 and into 2017.
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