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Investors - LC / Re: LC open to all states now?
« on: June 25, 2015, 09:36:36 PM »Not all states just yet.. but they keep promising that it will be soon.
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I just got off the phone with Lending Club again. This time the guy was more explanatory than the gal I spoke to previously. He said they were aware of the problem and were working on a fix to allow trading in notes from the IRA accounts. He said it may be complete within a matter of months but could not give an exact date!
Of course this sounds exactly like what they told me a few months ago... so it should be taken with a very large grain of salt.
Without reinvesting and selling late notes, my IRA is starting to lose money...
You mean your returns are dropping or do you actually have negative returns? Big difference.
I just got off the phone with Lending Club again. This time the guy was more explanatory than the gal I spoke to previously. He said they were aware of the problem and were working on a fix to allow trading in notes from the IRA accounts. He said it may be complete within a matter of months but could not give an exact date!
The latest from LC is that I am 'discouraged' from trading through it
Someone just bought up every note in the past-due market that were listed at >93% discount. It completely cleared out my "fire sale" inventory. If you want to sell your bad notes, do it now before the whale goes away.