Author Topic: Virtual meet and greet  (Read 14795 times)

jamesb2147

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Virtual meet and greet
« on: June 22, 2013, 02:59:32 PM »
Hiya!  Anybody have this loan in their portfolio?

https://www.lendingclub.com/browse/loanDetail.action?loan_id=5534867

It's mine.  :)  I'll tell you now that I've every intention of paying it back, and since I work for a local university that literally takes years to fire people, the risk is miniscule (pretty much only if I die).

I thought it'd be fun to learn and share a little about myself and my investors, if anybody's up for it!  ...Or I'd be happy to answer questions about the LC borrowing experience, if anyone is curious.

New Jersey Guy

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Re: Virtual meet and greet
« Reply #1 on: June 22, 2013, 04:47:01 PM »
Okay James!  Your post is a real first!

I'm in a Non-Lending Club state so I wasn't allowed to invest while your loan was funding.

However, I did pick up the (only) note for sale on Folio.  I had to pay a 2% premium to get it, so you're into me for $25.87  ;)

Just for you, I'm going to open a special portfolio on my account and name it "James Promises to Pay".  When the note settles on Monday, I'm going to put it in there.  It will be the only note in that portfolio.  So this way, for the next 36 months, that portfolio will stick out like a sore thumb on my account. So, you and I are now partners.

Here's the deal.  In return for my $25.87, I expect the usual:
Birthday Card
Christmas Card
Father's Day Card
Oh, and I'll send you my Christmas Wish List right after Thanksgiving.

Come to think of it, a couple of people here at work owe me more money than you do.  Too bad they aren't as forthright as you are.

WELCOME TO LENDING CLUB!
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

SarahV

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Re: Virtual meet and greet
« Reply #2 on: June 22, 2013, 09:27:21 PM »
I think you're required to at least post pics of your kids before making anyone send you a Father's Day card ;)

I don't have the loan in my portfolio, but I wish you luck with your debt reduction strategy, James!

Lovinglifestyle

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Re: Virtual meet and greet
« Reply #3 on: June 22, 2013, 09:52:52 PM »
I don't have it either, but only because I wasn't looking at D loans by then.  If it had been an E1 I would have taken it.  I like the words you wrote to go with it, your job, your debt history and credit record.  Nice move on the credit cards and lucky fiance! 

brycemason

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Re: Virtual meet and greet
« Reply #4 on: July 09, 2013, 05:37:11 PM »
This is awesome. I don't own the note, but thanks for the entertainment!

New Jersey Guy

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Re: Virtual meet and greet
« Reply #5 on: July 09, 2013, 05:54:30 PM »
I hope this is a LC Glitch!  Otherwise, he forgot he actually has to pay this back on a monthly basis!


7/3/13 -- $0.90 -- -- -- -- Processing... 

Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

SarahV

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Re: Virtual meet and greet
« Reply #6 on: July 09, 2013, 06:30:47 PM »
That's not due to complete till tomorrow, NJ Guy. You have to add a day for the holiday.

New Jersey Guy

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Re: Virtual meet and greet
« Reply #7 on: July 09, 2013, 06:36:38 PM »
"That's not due to complete till tomorrow, NJ Guy. You have to add a day for the holiday. "

Sarah....for some reason, I just KNEW it would be you to have the answer!

The Pony Express made it from Pa. to Calif.  faster than this.
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

SarahV

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Re: Virtual meet and greet
« Reply #8 on: July 10, 2013, 09:48:00 PM »
So did the payment complete? Now I'm curious :)

New Jersey Guy

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Re: Virtual meet and greet
« Reply #9 on: July 10, 2013, 10:27:44 PM »
"So did the payment complete? Now I'm curious"

Yea, it completed today.
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

jamesb2147

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Re: Virtual meet and greet
« Reply #10 on: September 08, 2013, 01:15:15 PM »
Thanks for the warm welcome, NJ guy! And yes, it cleared! And so did August's and September's payments.

An interesting wrinkle. I didn't do any deep research on the topic, but I was under the impression that LC didn't report loans to the bureaus in most instances. On August 29, though, they went back and said I'd made my July payment. Talk about a delay! I hope they aren't as bad about updating that stuff as DoE loan servicer. They have multi-month gaps in my payment records, even though I always pay on time. :/

EDIT: When the LC loan showed up on the report, my FAKO Credit Karma score dropped from 758 to 741. Still decent, but I wish I'd known it was coming. I slipped from 80th percentile credit to 75th.
« Last Edit: September 08, 2013, 01:50:07 PM by jamesb2147 »

jamesb2147

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Re: Virtual meet and greet
« Reply #11 on: September 08, 2013, 01:26:08 PM »
I mention that LC started reporting, and I know the exact date because I monitor my report very closely. I've started getting in on the whole miles and points game with credit card signup bonuses, and it could really throw a wrench in those plans.

I'm trying to pay for the honeymoon, a trip to Chile, entirely on miles and points. So far, I've got about 250,000 miles/points just from my first churn. Unfortunately, with the aforementioned wrench, I'm still concerned because I need about 90,000 more American Airlines miles, or a whole lot more British Airways points. Or, I could just accept flying coach on an overnight. :p Seems like plenty of other people do, but I was hoping to make the trip as comfortable as possible for the fiance.

At least I've plenty of time to plan, though, as our honeymoon doesn't start until December 2014!

jamesb2147

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Re: Virtual meet and greet
« Reply #12 on: September 08, 2013, 01:47:34 PM »
For those wanting to know more, here it is! I get tired of maintaining carefully constructed personas and such.

I'm Sean, I live in Bloomington, IL, I'm the network admin for Illinois Wesleyan University, and I just got a "raise" of 1.25% to $40,500/year pre-tax. Currently, I'm trying to get my Nicaraguan fiance a visa, start a small business (it's a site for finding the right credit card to achieve a specific travel goal; currently crowdfunding on Indiegogo, though not very successfully at the moment - http://igg.me/at/tralue/x/4605240), plan a paper wedding for legal reasons in May, plan a real wedding in December 2014 (at least the fiance is taking care of most of that!), plan a honeymoon for immediately after the wedding for nearly free (that's on me; I'm keeping everything about it a secret, so don't tell!), work on gaining guardianship of the fiance's nephew to also bring to the US (he's a citizen, making it considerably easier), managing the credit card sign ups for myself and my fiance to get free travel, planning visits in between now and the weddings, trying to save up for a down payment on a house (yeah, right!), and figuring out the best way to finance the wedding while juggling everything else going on.

Needless to say, I spend a lot of time in spreadsheets. This is probably more than anyone ever wanted to know about me, but I believe in being as transparent as possible. Now, if anyone wanted to hunt me down, or send a Christmas card, they probably could. :)

New Jersey Guy

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Re: Virtual meet and greet
« Reply #13 on: September 08, 2013, 01:48:44 PM »
I've attempted to purchase 1 or 2 more notes of your loan but guess what?  The note I purchased in June is the only note that ever came up for sale on Folio.

There were only 59 lenders on your loan.  I guess everybody likes you!
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

jamesb2147

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Re: Virtual meet and greet
« Reply #14 on: September 08, 2013, 01:53:25 PM »
I guess so!  ;D

Are there usually more lenders than that? I'm used to Prosper, where I have about $2500 invested right now, and there can be hundreds of investors in a loan. I'm not that familiar with LC.