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Messages - Osito

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1
Suggestions / Re: web server problems
« on: May 24, 2017, 09:36:03 PM »
Getting Cloudflare rate limiting error 1015 today.

I got that cloudflare limiting error all day yesterday it goes on to say that you were banned by forum lend academy.

Had to switch to tap talk in order to get in and then it seemed to work fine after that and today

That 1015 said something about spam robot and  captcha. 

Quote
Come on now, I may not say much useful, but I am definitely not spam!!!! :)
Quote from: RyanL on May 23, 2017, 01:48:33 PM
Quote from: dr.everett on May 23, 2017, 01:32:17 PM
Getting Cloudflare rate limiting error 1015 today.

We are working on dealing with some spam traffic. I just increased the threshold so you shouldn't see errors unless you are hitting >30/pages per minute. Let me know if you continue to have issues.


Idk just glad i was able to get back on site again and would have to agree

2
Investors - LC / Re: Has anyone seen this
« on: May 24, 2017, 09:12:29 PM »
Before I put my money transferred to LC, I came here and read everythign I could about LC. Went to dunno, 10 different sites and read all I could there too. Ya know one thing that I knew before one dime went to LC? That borrows did not pay the late fee, we did. To be annoyed by it is just silly.
I had another long reply but something really funky happened with the site and too tired to rewrite it.
Yet when borrower actually paid I am charged along with others .12 cents for fees to LC.  But only pay me and others .04 cents for late fees
You are lucky you even get that 4 cents late fee. In my experience the vast majority of times that LC charges us a "collection fee" they do NOT ask the borrower to pay a late fee. That's one of my pet peeves for LC.

I read it too and re read it and by LC example seems pretty misleading to me.  Their people (pencil pushers) as the way I see it should be paid by the loan origination fees.  But to charge us for someone to pick up phone let it ring 3-4 times and hang up then post agent tried to contact no message left heck I could do that for free, (and really never make the call) how would you know?

But the surprising thing is that on some LC tries to take the money and on others they don't. I'll post an image of those.  Why not try on all of them?

3
Investors - LC / Re: New Sign In Window
« on: May 23, 2017, 10:46:07 PM »
Update to original post--

The problem went away yesterday.  I didn't do anything to fix it.  Decided not to use Last Pass.  Think LC did the fixing.

I still have this issue especially when I click the remember me box I always have to start over.
Another issue I was having this last few days is I would log in on my phone but now can't even log into my account on phone have to do it on puter or iPad.

4
Investors - LC / Re: Has anyone seen this
« on: May 23, 2017, 10:33:12 PM »
(null)
Thxs but the real concerning thing is you would think they would try on all lates to push the payment through but out of 3 this was the only one.  I only have 120 notes right now and been slowly building up and learning as I go.

Just something that I noticed that seemed odd. 

Thxs for the reply


Sent from my iPad using Tapatalk

5
Investors - LC / Has anyone seen this
« on: May 23, 2017, 09:54:15 PM »

I have 3 loans that are 31-120 days late now while looking through these I see the main memo (payment solution specialist tried to contact no message left)

Now on 2 of these in between there are other memos that say letter sent account seriously over due.

The odd thing is no payments were tried to be taken out what so ever.  But on one where the same message is (payment solution specialist tried to contact no message left). The only difference between this one and the other 2 is someone at least tried to get the payment from the bank as this is the only note that has 2 payment failed in it.

Wouldn't one think that all three would have at least 2-3 payment failed in it and not just the one?

Had another that was also past due 31-120 days late now reads current all messages say same thing (account specialist tried to contact no message left). Except the most recent line that said (account specialist made contact borrower promised to pay). Yet when borrower actually paid I am charged along with others .12 cents for fees to LC.  But only pay me and others .04 cents for late fees
Does this seem kinda backwards as we have no proof or anything except for what someone writes that they tried to contact.

Idk it is what it is but to me we the investors should be getting the bigger piece of the late fee recovery considering we are the ones putting the money up.

I know 12 cents is 12 cents but put it over a portfolio of someone who has thousands of notes those 12 cents add up really fast.



6
I talked to LC a few weeks ago regarding IRA accounts and winding them down.  They stated that in the case of the owner receiving RMD's after retirement that they will continue covering the $100 fee even after the balance drops below $10,000.  It wasn't in writing, but they recognize the issue.

Now for an account liquidation and transfer, that would be a different issue.

Always get it in writing a persons word won't hold up in court, or at least tell them you recording the conversation and they agree with it to put it on record

7
After reading the discussions so far I look at it this way. On average I have about 150 notes a month totaling $4-5K a month go bad (31-60). Very few of them go back to current. (5-10 a month if I'm lucky..)

If their hardship program makes a difference, great. If it turns out to be lipstick or window dressing, not good.

+1

8
Cynic in me says, this may benefit Lending Club more than lender or borrower. LC gets another tool to manage delinquency rate by spreading out candidate borrowers across longer time frame. Fred93 will get to claim "See delinquencies are not rising."  ;)

"Ah shucks! more than expected borrowers are not making payment this month, lets put them on hardship plan so that we can spread them across 3 months to prevent falling them through loan status funnel in this quarter."

I feel the hardship loans will be a benefit to lenders and borrowers.  If borrower goes on hardship then the lender gets at least double payment or at least 3 months of payments.  Which is better than getting nothing at all. 

If it will help in less Igp or defaults then that to me seems like a benefit just as long as we don't get charged a service fee for it

Fred or whoever can take a lump sum of people and make a graph all day long that only tells you about the group as a whole.  Since its suggested that one should deposit $2500 dollars and do at least a min of 100 notes there is no way that everyone in that graph has done this so what Fred is projecting is kinda a flawed graph.  How many of those only put $25-$100 notes in and have just lost their money or did a just deposited $100 dollars and bought 1 note etc...

I use to be in sales and there is an equation we used but we applied it to the individual to see how many calls or knocks on doors before one made a sale.

I don't see this as being that bad right now here is what I see.

I have 114 notes total out of that 5 are paid one is on payment plan and one is 16-30 late if I continue doing what I am doing picking my own notes then in a perfect world and on paper 228 notes would mean 10 paid  at least 2 on 16-30 late 2 on payment plan and one would be charged off or defaulted.

Just because it's on paper doesn't mean that's how it's going to work.

all Fred is showing is an estimate of what is happening or has happened

(By the way I started with 100 notes and stopped depositing because of my own personal issues

9
If borrower goes on hardship then the lender gets at least double payment

There are no "double payments".

I don't know how you figure there are no double payments it states they have to be current to use hardship.  So let's say this is the first month that they call for hardship and they are current.
So.....

1st month they pay interest only on let's say .30. (All fractional lenders)
2nd month they pay interest only again         .30. (All fractional lenders)
3rd month they pay interest only again.         .30 ( all fractional lenders)

Now this means all those who lent makes .90 cents for the three months
On the 4th month they (I'm not sure). If they pay full amount owed due as on note or if this is a re-negotiated amount). But if they pay their normal amount which would be .30 for interest and let's say .40 for principal that means one made total $1.60 which I don't care how one would look at it is still .90 cents more than if he or she didn't take a hardship.

Unless I just didn't clearly understand it.

10
I feel the hardship loans will be a benefit to lenders and borrowers.  If borrower goes on hardship then the lender gets at least double payment or at least 3 months of payments.  Which is better than getting nothing at all. 

If it will help in less Igp or defaults then that to me seems like a benefit just as long as we don't get charged a service fee for it

11
Here is a pic of the note hope it helps

12
Quote
But I do have another one that was late but that one now is on payment plan and is showing current.

Ok, lets talk about this one that "is showing current".  When you say "is showing current", I presume that you mean that the loan status field is displaying "current" right now, right?

So is the loan in fact current, according to its original payment schedule?  In other words, has the borrower paid as much so far as he originally agreed to pay by this time?  That's the original meaning of current.  What I was asking is whether the meaning of "current" as used by LC, has changed.

Just because LC has agreed on a "payment plan" with a borrower doesn't mean the borrower is behind on the original loan schedule.  He might have caught up (for now anyway), which means he's really current, as opposed to newspeak current.

I suspect that is what has happened in this loan.

I suspect this because the new hardship plan thing hasn't started yet.

Ok on that point no it's not current as far as being paid to original note.

It shows missed payment then payment plan and current even though he/she hadn't made their payment for this month meaning 3/1-3/31.  And their next payment is on 5/3 now

13
I have one that went late now shows current and states that they are on payment plan

Please look at the numbers.  Are they in fact current to the original loan terms?  It is my understanding that the loan status indicates whether they are current to the original loan terms, independent of the "payment plan".

No I'm just not sure what you are asking for.  You want the loan numbers I can give you that. 
Sorry I thought I was giving you what you wanted. 

It shows 16-30 days late but they are on a payment plan.  With the next payment not being until 5/3/17.  ( this is the most current one). But I do have another one that was late but that one now is on payment plan and is showing current.

Ok, so you just refuse to look at the numbers and tell us what the loan's situation is relative to the original terms?

14
I have one that went late now shows current and states that they are on payment plan

Please look at the numbers.  Are they in fact current to the original loan terms?  It is my understanding that the loan status indicates whether they are current to the original loan terms, independent of the "payment plan".

It shows 16-30 days late but they are on a payment plan.  With the next payment not being until 5/3/17.  ( this is the most current one). But I do have another one that was late but that one now is on payment plan and is showing current. 

15
I have one that went late now shows current and states that they are on payment plan.  Just FYI I have a total of 114 notes of these 5 paid 1 late on payment plan and the other late.  It is noted if they are on payment plan on notes

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