[JohnnyP]

I have been buying pretty conservative notes on folio. Usually grade 'C' with level or rising FICO and never late. Usually around one year old. These usually have roughly 2% discount.

It seems like lately a lot of these have been going late right after I buy them. Is there any way that the seller may know more information than I might? Is there something I should be looking for to make sure I am not getting shafted?

Thanks for any help.

[yojoakak]

I feel for you, brother.

http://forum.lendacademy.com/index.php?topic=1854.0

[fliphusker]

from: JohnnyP on February 26, 2017, 02:57:26 AM

[dr.everett]

The suggestion I would make as someone who buys on FOLIO extensively would be to look at notes with at least 6-12 payments made, 6 for 36 month loans, and 12 or more for 60 month loans. While not eliminating all possibility of charge offs, it seems to help significantly.

[trixh0]

Hello,

from: JohnnyP on February 26, 2017, 02:57:26 AM

[rubicon]

this doesn't work since notes get cancelled if the status changes.

[TravelingPennies]

Hello and,

Exactly, but you can do so the day before. If the payment comes you keep the note. If the payment is late you have sold it.

Best regards

Jens

[TravelingPennies]

your timeline doesn't make sense.

If you sell the note on the day before, they will get cancelled the next day if the payment comes through or the status changes.

[TravelingPennies]

My observations:

Note changes status and payment arrives.
OR
I buy the note and the note becomes late.

What I have not yet seen:

Notes changes status, I'm denied the buy and the note becomes late.

[Lovinglifestyle]

My observations as a seller have been that if the note goes payment pending the sale is canceled, regardless of whether the payment gets paid or not.  To sell it again I have to re-list it if/when that becomes possible.

[Rob L]

from: Lovinglifestyle on April 29, 2017, 12:00:20 PM

[TravelingPennies]

When do charge off's occur?
Here is a daily chart of mine from late January 2017 to date. I've had 1275 total charge offs over the life of my account.

[Fred93]

from: Rob L on April 29, 2017, 12:20:05 PM

[Rhonda9080]

I have now been noting when the last payment was posted so I don't get into the cancelled, payment processing thing like I did before. Not rocket science, but I didn't understand at first why some sales or buys were cancelled. Dumb me.