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Messages - lascott

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61
Investors - LC / Re: Recoveries: More than usual?
« on: January 29, 2019, 10:08:08 PM »
Recoveries two days in a rows. Maybe on the 26th and/or 27th too based on Jan or Feb data.  Decided to practive my Pivot Table skills and downloaded a few months worth of data breaking down by month and then by dates within the month.
<snip>
I've noticed quite a few recoveries in the past 4 out of 5 days.  I was thinking of making another pivot table.   

Have I lost it or did LC take away the ability to download your transactions (activities)?  Perhaps there is a special download URL or in their revamping the site a few times they decided it was not necessary.
https://www.lendingclub.com/investor/account/1/activity/account-activity

UPDATE: I just did a crude cut-n-past, change-all-in-notepad ... to create the below.


62
Any idea why lending club transactions take so long to complete? It is pretty annoying that many transactions are canceled because of the payment in the following day.

I am also investing in Chinese P2ps, where any transaction is committed within seconds. Even the deposits or withdraws < 750K USD are completed immediately after you click the button.

Just wondering why LC takes this long, do people really sit behind to manually check the data?

Thanks in advance
By all accounts the Chinese P2P is in crisis and you are holding that up as an example to follow? That is confusing.
https://www.google.com/search?q=chinese+p2p+lending+crisis

63
I don't see a date on that article, so no way to know whether it is years old or what.
Not sure what you mean. Is this not the date? 
Aside: Also I think one could put it in the way-back-machine/archive and see a calendar perhaps of add/changes.

64
Foliofn - LC / Re: taxes...?
« on: January 13, 2019, 01:31:00 PM »
LC has tax guides for several years. At the bottom of this post it also mentioned they have an option that works with with Turbo Tax.

I didn't see at 2018 tax guide but here is the 2017: https://help.lendingclub.com/hc/en-us/articles/216706817-2017-Downloadable-Tax-Guide

65
Foliofn - LC / Re: investor fee
« on: January 08, 2019, 02:25:08 PM »
The 1% is pretty easy to do in your head when you see your overall days totals. If it doesn't work out to 1% then there may be collection fees.

An example I had recently.



66
Investors - LC / Re: 1.9% --> 4%
« on: December 21, 2018, 11:40:07 PM »
Small volume investor here, just wanted to crow a little about clawing my way back up to 4% over the last year and a half after a rough start.  I know that 4% is nothing to get excited about, but it seems my strategy is working so I'll keep plugging away to see if I can get to 5%.  It has definitely gotten more difficult to invest with so few loans to choose from so I've had to loosen my standards a bit-- and I hope I haven't jinxed it!  Happy holidays!
Good job on your patience. My kids account had a write-off very early and it took a while to get back to 5%. My two accounts are at 5% or just under. I'm OK with that as I'm withdrawing and I always consider LC to be an alternative to stocks and more akin to returns on bonds anyway.

67
Investors - LC / Re: Worst Month Yet
« on: December 10, 2018, 10:20:03 PM »
When Notes turn delinquent they take out a huge chunk of the money we have earned in the form of interest received on the good notes. We really struggle to get the good notes and when one of them tuns bad it negates all the hard work put in.
LC really needs to do a better job of going behind the defaulters. But then, why should they. Its not their hard earned money. its ours.  Sorry I am ranting.
I am thankful they have increased their efforts in the couple years. Keeps me 'positive'.
Is the amount of principal in each account constant over the period shown?
If not then how do the numbers look as a percent of principal invested? TIA

I've been taking money out almost daily for like 1.5 yrs I think.   I'm afraid my G sheet does not have Principle but it does have Charge Off Amount from the monthly statements.

Here is a percentage of Recovery-RecFees Amount compared to Charge Off Amount.  It appears they hired Guido in 2018-08 :)


68
Investors - LC / Re: Worst Month Yet
« on: December 08, 2018, 08:29:09 PM »
When Notes turn delinquent they take out a huge chunk of the money we have earned in the form of interest received on the good notes. We really struggle to get the good notes and when one of them tuns bad it negates all the hard work put in.

LC really needs to do a better job of going behind the defaulters. But then, why should they. Its not their hard earned money. its ours.  Sorry I am ranting.

I am thankful they have increased their efforts in the couple years. Keeps me 'positive'.


69
General P2P Lending Discussion / Re: Opinion on Wunder Solar Funds
« on: December 08, 2018, 08:03:23 PM »
I just listened to the "Watt It Takes: The Origin Story of Wunder Capital". I was incredibly impressed and obtained a new appreciation for the co-founders and the growing company. A fantastic set of questions and really impressive and frank answers by Wunder Capital CEO Bryan Birsic.

 https://www.greentechmedia.com/articles/read/watt-it-takes-the-origin-story-of-wunder-capital#gs.d445.7MhXztI

70
General P2P Lending Discussion / Re: Opinion on Wunder Solar Funds
« on: November 19, 2018, 01:01:51 AM »
I read the feature article on lendingacademy.com about Wunder capital (e.g., retail investor solar financing platform) and I was wondering if there are any Lend Academy forum participants who have invested on their platform. If so, what is your experience been?
I have quite a bit invested via STRATA and some 1099-OID taxable. Will add more via STRATA.
I get paid monthly in a very similar way to a Lending Club loan pays you back.
A lot of growth with this company and hiring experienced people with related experience.
They are in different offices than they were initially.
In a Q&A at 43:25 minutes in Bryan Birsic (CEO) talks about Lending Club pairing "payment dependent note". https://www.youtube.com/watch?v=UFhaOiWlIXY

Aside: reported post above "wow great information totally love it buddy." to the moderator as it looks like a bot.

71
Interest Radar / Re: I'm confused
« on: November 13, 2018, 09:33:45 PM »
Reported as there is a link in that signature above. Scam-ish!

72
Investors - LC / Re: Is LC no longer interested in retail investors?
« on: November 08, 2018, 10:12:21 PM »
The drop-off of loan availability on the fractional platform seems to be persisting well into November. Do you agree that fewer loans are now coming onto the platform than earlier in Q4? Has anyone asked LC about it?
20s, 30s, maybe 40s --
Peercube twitter feed https://twitter.com/search?q=Lending%20Club%20Available%20Loans%20Tracker&src=typed_query&f=live

73
Off Topic / Re: Couple questions about student loans and credit
« on: September 12, 2018, 11:14:50 AM »
It is not clear if you are a real person :) but here is a little info. Some depends on where you got the student loans and what are the interest rates. Also suggest signing up for www.creditkarma.com to get their free dashboard and details (the catch is they are trying to get you to sign up for credit cards, auto ins, mortgages, etc thru their portal where they get a kickback. I don't do that).

Q: When must I begin repaying my student loans? Do I have a grace period?
A: Most student loans have a six-month grace period, which means you won’t have to start making payments until six months after you graduate, drop out or drop below half-time status. The grace period is meant to give you a chance to find a job and begin earning an income before you’re swamped with bills.

Tips to prepare for student loan payments:
  • Use the grace period to research student loan repayment options
  • Create a budget built around your student loans
  • Prioritize paying off student loans
  • Communicate with your loan servicer
  • Set up automatic payments to avoid late fees
  • Avoid student loan default at all cost
  • Know the exact date when you expect to pay off the loan and give yourself a target ahead of that to shoot for
The following types of loans have six-month grace periods:
  • Direct Subsidized/Unsubsidized Loans
  • Subsidized/Unsubsidized Federal Stafford Loans
  • Some private student loans

74
"You may periodically receive residual funds from the recovery process. After your account is closed, these funds will be sent to you in the form of a mailed check. If you would like to opt out of receiving these residual funds, please complete and submit this form."

This part of the letter made me not worry about recovery funds.
Thanks for that. I guess it should be obvious that there would be regulations on how they need to give the investor all their proceeds. I'd probably keep my taxable account open no matter but not that ROTH IRA since they stop paying the STRATA fee when you are below $10,000 (I think).

75
Investors - LC / Re: IRA Notes sold- what next?
« on: September 03, 2018, 12:56:49 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.
Sorry for the delay. Maybe I'm misunderstanding your question. Does this graphic help?

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