Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: anabio on April 01, 2017, 10:40:49 AM

Title: 22 loans paid off HOWEVER 18 of those now in grace.
Post by: anabio on April 01, 2017, 10:40:49 AM
I'm  now at the point where my loans are paying off (not early). I see today that 22 of my loans paid off on time...actually their detail shows they paid the amount they have always paid each month BUT 19 of them now appear as IGP???

When I view the loans some of them show a 0 balance and some show a 1 cent balance. If I hover over the balance due I get between .004 cents and .008 cents due.

Has anyone else with loans paying off normally (not early) seen this? How long before LC "forgives" the partial cent owed and moves them to paid in full?

Maybe I'll call LC when they open Monday morning.
Title: Re: 22 loans paid off HOWEVER 18 of those now in grace.
Post by: Fred93 on April 01, 2017, 01:29:34 PM
I'm  now at the point where my loans are paying off (not early). I see today that 22 of my loans paid off on time...actually their detail shows they paid the amount they have always paid each month BUT 19 of them now appear as IGP???

When I view the loans some of them show a 0 balance and some show a 1 cent balance. If I hover over the balance due I get between .004 cents and .008 cents due.

Has anyone else with loans paying off normally (not early) seen this? How long before LC "forgives" the partial cent owed and moves them to paid in full?

Yes.  They have a little rounding problem at the end with many loans.  I've seen it, but have never tried to figure out exactly what goes wrong in their arithmetic to cause it, and I haven't paid attention to when it resolves.  I know it does resolve.  I would guess that a month later, some cleanup routine plows thru and zeros them.
Title: Re: 22 loans paid off HOWEVER 18 of those now in grace.
Post by: anabio on April 05, 2017, 05:36:47 PM
Asked LC about this and their email response was:

Thank you for your call recently. We are reaching out to inform you that we have resolved your inquiry and the loans in question are now reflecting as fully paid. We noticed there was a technical issue with the system on the final payment so made the adjustment so the loans reflect the correct status.
Title: Re: 22 loans paid off HOWEVER 18 of those now in grace.
Post by: yojoakak on April 05, 2017, 10:32:27 PM
Proverbial chewing gum and bailing wire.