Author Topic: Notified borrower of potential legal action  (Read 2357 times)

Bohb Daishi

  • Sr. Member
  • ****
  • Posts: 481
  • I eat free lunches
    • View Profile
Notified borrower of potential legal action
« on: December 13, 2013, 04:02:38 AM »
There are three ways to make a living in this business: be first, be smarter, or cheat.

Zach

  • Administrator
  • Hero Member
  • *****
  • Posts: 622
    • View Profile
    • Email
Re: Notified borrower of potential legal action
« Reply #1 on: December 13, 2013, 08:08:26 AM »
https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=1620609&order_id=3517635&note_id=14722053




I haven't seen this one before. What do you think it means?

I've seen this particular collection log note at least a few times before. I haven't found it to mean that LC actually ever takes legal action, but you never know!

Keltset

  • Full Member
  • ***
  • Posts: 176
    • View Profile
Re: Notified borrower of potential legal action
« Reply #2 on: December 13, 2013, 10:22:53 AM »
I'm not certain why it would not be legal for us to see that, there is no personal identifiable information and so long as the notification is support by intent to pursue legal action it would be legit. I think knowing that they have been notified of potential legal action is really no different from telling us they made contact with the borrower and I don't think it is any more specific than showing us payment history on the account.

It is nice to see this on a note though, I hope they take their judgments and run right for garnishments....

core

  • Hero Member
  • *****
  • Posts: 1784
  • Your loss is my gain
    • View Profile
Re: Notified borrower of potential legal action
« Reply #3 on: December 13, 2013, 12:15:38 PM »
I've seen this one before, along with more serious-sounding notes:  "Drafing lawsuit", etc.  I don't know why it wouldn't be legal to put in the log.