Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: rj2 on October 08, 2015, 10:46:51 PM

Title: Deadbeat's credit score is going up
Post by: rj2 on October 08, 2015, 10:46:51 PM

How aggressively is LC reporting deadbeats to the bureaus?

I see a couple on my account and their credit scores have gone UP, even though they're nearing 120 days late. Wasn't the 30 day and 60 day and 90 day reported?
Title: Re: Deadbeat's credit score is going up
Post by: Fred on October 08, 2015, 11:20:22 PM
In my prior banking work, the IT team sent credit updates to the agencies monthly.  I think LC and most banks are also doing this monthly.

The credit agencies should also update their credit scores monthly; however, the exact timing might different than that of banks, so the "latest" information from credit agencies might be 2-month old.
Title: Re: Deadbeat's credit score is going up
Post by: lascott on October 08, 2015, 11:24:12 PM
How aggressively is LC reporting deadbeats to the bureaus?
I see a couple on my account and their credit scores have gone UP, even though they're nearing 120 days late. Wasn't the 30 day and 60 day and 90 day reported?
Did you contact LC to see what may be going on.  There should be a cause and effect.  If you fail to meet your obligations then the corresponding information (FICO) should reflect that!
Title: Re: Deadbeat's credit score is going up
Post by: smihaila on October 09, 2015, 10:40:22 AM
The deadbeats may employ some tricks (generously mentioned on sites like https://creditboards.com/forums) to get their credit history & score back ok.
Heck, they may even contract another loan with Prosper and pay it off immediately.