Author Topic: Christmas Bonuses - return to Current!  (Read 3821 times)

jennrod12

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Christmas Bonuses - return to Current!
« on: December 22, 2016, 03:45:35 PM »
I've had a few loans return to Current this week, and even have a partial payment from a loan that was in Default! 

I'm guessing it must be due to Christmas / Year End bonuses.

Thought I'd throw out a note of good cheer.   :D

Jenn

anabio

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Re: Christmas Bonuses - return to Current!
« Reply #1 on: December 22, 2016, 06:22:05 PM »
I've had a few loans return to Current this week, and even have a partial payment from a loan that was in Default! 

I'm guessing it must be due to Christmas / Year End bonuses.

Thought I'd throw out a note of good cheer.   :D

Jenn

Hmm...I think a little differently. I attach a chart that might (or might not) be of interest. Ever since Dec of 2014 I have kept track of the  total number of my notes in each "bucket" (in grace, 16-30 late, 31-120, default, charge off).

In order to keep the chart simple I combined the numbers for grace/16-30 and 31/default. The attached chart depicts the NET change from the previous month end ( IE. how much the number has increased or (I wish...) decreased from the previous month. I may be interpreting wrong but the chart appears to show that the month of December isn't really one of the best months. For some reason Feb and March seem to be the months when borrowers "catch up" or don't get as far behind. The reason for this?  Maybe there are those who file income tax early because they are getting a refund and the refund is used for LC loans? Those who expect to have a balance due to the government file later (maybe April 15)...which might show up as an increase in the number of late payments in May???

I have no idea what happened in Sept of 2014...

One thing the chart DOES show is that there was a nice period of semi-calm between Dec 2015 and April 2015 (even into Aug of 2015). Then the chart gets a little long in the tooth from sept till present. (december is not over yet so it very well could show larger buckets than currently depicted. It certainly feels as though loans going into late over the past few weeks are not getting caught up as much as previous years.)
As Will Rogers stated: : I'm not as concerned about the return on my money as I am the return of my money

jennrod12

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Re: Christmas Bonuses - return to Current!
« Reply #2 on: December 24, 2016, 05:02:49 PM »
Yes, I didn't mean to imply that December was a rosy month in general, but that I saw some pockets of unusually good behavior in amongst the thorns.

Jenn

Lovinglifestyle

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Re: Christmas Bonuses - return to Current!
« Reply #3 on: December 24, 2016, 07:49:20 PM »
I too noticed a positive bump.  Three graces and a 16 days late that looked good to to me all paid up. 

anabio

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Re: Christmas Bonuses - return to Current!
« Reply #4 on: December 25, 2016, 10:21:47 AM »
I too noticed a positive bump.  Three graces and a 16 days late that looked good to to me all paid up.

Yeah...I too kind of balanced out at that low end. So far in December I have had 3 more IGP than on Nov 30. Have 3 less 16-30 than Nov 30 (yah!!). So that balances out (a little better than balance out since 16-30 recovery is better than IGP loss.) 

BUT have 4 more 31-120 late and 2 more charged off than Nov 30. HMMM...wonder if those 3 less 16-30 became 3 of those 4 more 31-120??? So overall...not too good.
As Will Rogers stated: : I'm not as concerned about the return on my money as I am the return of my money

Lovinglifestyle

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Re: Christmas Bonuses - return to Current!
« Reply #5 on: December 25, 2016, 12:27:24 PM »
Most likely those 16s did become the 30s.  It's tricky deciding which IGPs to wait on instead of selling fast, based on what the odds look like.

2 went 16-30 late, and 2 went 31-120 late this month after I sold them as IGPs.  Don't know how many went current, since I sold a batch of currents too and can't tell the difference now.

we2ding

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Re: Christmas Bonuses - return to Current!
« Reply #6 on: December 29, 2016, 05:43:14 PM »
Mine account is building nicely! I had one that was past due and I had accidentally invested in 2 notes-so I was really taking a hit-but it came current. I have 4 fully paid! I joined in Oct.
I also opened a Vanguard Roth IRA and had a nice mix that made money-and then lost money and only gain $5. Trying to figure what I will do next week 2017 ...should I add to my Roth and stay the course? Overall I am happy with my Lending Club account and I find it easy to manage.

Issued & Current (141)    
In Grace Period† (0)    $0.00    $0.00
Late 16 - 30 days† (0)    $0.00    $0.00
Late 31 - 120 days† (0)    $0.00    $0.00
Fully Paid* (4)    $0.00    $0.00
Default (0)    $0.00    $0.00

SLCPaladin

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Re: Christmas Bonuses - return to Current!
« Reply #7 on: December 29, 2016, 09:04:58 PM »
Quote
...should I add to my Roth and stay the course? Overall I am happy with my Lending Club account and I find it easy to manage.

I'm not a financial adviser, so I won't even try to tell you what to do with your money. But some general, sound investing principles have been distilled into crystal clear clarity. I've heard good things about this easy-to-read book: The Index Card

Proper diversification of assets in accordance with your risk tolerance are tried and true principles. Maxing out a Roth IRA or a traditional 401k seems always to be a good move. Since a Roth IRA and a traditional IRA are just vehicles, the question you have to determine is what investment will you put money into? Stocks? Bonds? A REIT? Using index funds and dollar-cost averaging over long stretches of time seems to be what academia suggests is likely to lead to the best outcome. LC and Prosper are unsecured consumer debt. You should think long and hard about what percentage of your total investment dollars you feel comfortable putting in a relatively new asset class.