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Messages - dr.everett

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1
Investors - LC / Re: Folio ending August 28th.
« on: August 09, 2020, 11:17:08 PM »
So glad I got out when I did a few years ago- was always worried that this would come to pass and I would be "rushed" to get out. LC was good back then, but now there are many better things to invest in, that are less work, less headache at tax time. etc. I wish everyone well that continues to stay with LC. I still check the forum from time to time to see what's going on, are things better, etc. (And to see if the decision I made a few years ago is still the right decision.) So far that answer is still a Yes.

Good luck all.

2
Investors - LC / Re: Winding down on Lending Club
« on: February 26, 2020, 06:33:44 PM »
I went with B first and when that completed went with C for the remaining notes. I feel like I got rid of notes in as quick and efficient fashion as I could without taking unnecessary losses.

3
Investors - LC / Re: Worst Month Yet
« on: January 24, 2020, 01:16:15 PM »
Felt the same way when mine closed.  :'(

One thing to be aware of that I've got going on right now. LC tells us that when our account is closed they will "periodically" send back any recoveries either via check or ACH to our primary bank account. I've got $25ish waiting right now to be sent- I know this because I've received several of the "We have notes matching your criteria" emails in the last few days.

Can't do anything about it since my account is closed. Can't initiate the ACH transfer myself.

Wondering when I'll get that $25 check or ACH. Or if I'll have to call them and yell at them to get it?

The joys of being a former LC member...

4
Investors - LC / Re: Worst Month Yet
« on: December 07, 2019, 09:55:47 PM »
Savor the feeling of being done, but at the same time, mourn the loss. I always felt like there was a lot of lost potential that LC left on the table when they decided to make whatever changes were made. I've since moved on to Fundrise, and have never looked back. That was 2+ years ago.

The decision to leave was the right one for me and I regained so much time by doing so. They even recover their own losses. They had one go bad about a month ago and just announced that they were able to fully recover it on their own so the investors were made completely whole. When did we ever see that with LC?

5
It's baaack.... >:(

6
It's making reading unread topics useless... ::)

7
Did not get one. Wound down.

8
Must be a load issue on their end- tried it just now at about 10:35pm PST and it finally worked. On the first try nonetheless.

Guess it is just me.  :P

9
Anyone else having logon issues since Lending Club Me Too'd with the six-digit logon code a few days ago? I never receive mine after logging on. Tried multiple times. Tried sending multiple times, still no go.

(And yes my email is working. :) ) (And yes I have checked my spam)

If I was more active with LC I'd call them but I'm only checking to see if there are any recoveries.

Am I the only lucky one?

10
Foliofn - LC / Re: daily spend?
« on: January 11, 2019, 05:06:16 PM »
Speaking from the standpoint of someone that had 2 large accounts and has now been departed for a year- I don't think you're going to find too many large accounts still liquidating.

Most of "us" left closer to 2 years ago when the chargeoffs started spiking and then there were all the ethics things and bad loan underwriting surfaced which caused LaPlanche to be fired.

There are people letting their accounts run off, people like me that sold slowly at reasonable discounts so as not to take significant losses, fire sales, and a few dumpster fires. ;)

I think that pretty well sums it up.

11
So, here's to a bounce; even if it's a dead cat! I'll take it.

Amen- My stock portfolio is so underwater right now it's not worth looking at anymore because it just makes me angry. And really wish I had money to put in while it's so low- I feel like I'm missing out on a big moneymaking opportunity.

Oh well- FML. :( Gotta wait it out.

12
Investors - LC / Re: IRA Notes sold- what next?
« on: September 19, 2018, 09:10:48 PM »
Well we'll see what happens- I turned in the paperwork last week- the STRATA side of things is closed already- I checked. I had transferred out the last remaining money prior to the close. On their forms I listed my taxable account as the "receiver" of any recoveries.

Now we'll see what kind of tax forms I get at the end of the year from all this. ;)

13
Investors - LC / Re: IRA Notes sold- what next?
« on: September 03, 2018, 01:35:10 AM »
@dr.everett and @lascott,
May I ask when was last Charged off note?  Any way to find out recovery from which charged off note?  Wonder whether you're getting recovery notes from notes charged off many months ago.
Thanks.

I seem to be getting in the area of $75-100 a month in recoveries- for August it was about $90. My account has been closed now for the better part of a year- meaning only selling- no new buying. At the height of my account, it had $165K invested in about 10K notes. The last of them sold in June '18.

I don't plan to keep the IRA open past October as that is when my "fee" is due. After that it'll be interesting to see what happens. Sounds like if money is trickling in it may be a tax headache tracking and reporting the misc. deposits, especially depending on how they are reported. That'll be a question I'll ask of LC and see if they are willing to answer it, or if they hide behind the "..we are not tax advisors." excuse.

14
So they replied back to my "Don't close" reply and said "No problem."

15
... My conservative models give me a price of around $8...

I think I'd wet myself or something worse if I were to open my LC stock portfolio and see $8 a share.  :o
That would be a really happy day after I cleaned up.  8)

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