Author Topic: Payment - Settled In Full  (Read 8092 times)

Bohb Daishi

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Payment - Settled In Full
« on: November 11, 2013, 06:48:47 AM »
https://www.lendingclub.com/account/loanPerf.action?loan_id=1491676&order_id=12760637&note_id=14453481

Collection Log:
10/9/13 (Wednesday)   Payment - settled in full



I have 5 of them. Can't decide what to make of this, and whether to hold on or to sell them for a loss...
« Last Edit: November 13, 2013, 03:44:01 AM by Bohb Daishi »
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core

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Re: Payment - Settled In Full
« Reply #1 on: November 11, 2013, 07:02:46 AM »
Interesting.  I've never seen that one before.  What's even more interesting is that no payment shows up in the payment log anywhere near that date.  What happened to it, accounting-wise?  I would hope that they'd eventually credit it to you.

When that happens, if that note changes from 31+ late status to anything else, even for a day, I say put some lipstick on her and get her sold.  Surely some senior citizen will take it off your hands, using the last $25 to their name that they were just going to blow on some more Alpo.  This seems like a better investment for them.

I'd be a buyer at -85% on this.  If you want to part with all 5, I'll take em.  Fill or kill.

Bohb Daishi

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Re: Payment - Settled In Full
« Reply #2 on: November 11, 2013, 08:16:32 AM »
I'd be a buyer at -85% on this.  If you want to part with all 5, I'll take em.  Fill or kill.

I might consider that. The "payment processing" period just started, so we'll have to wait until Thursday or Friday before I can put them up on Folio. One of them is a $50-note, so the total face value of the five is $112.20 with accrued interest ($105.84 without).

Current bid: Core @ $16.83 (85% discount). Anyone else interested?  8)
« Last Edit: November 11, 2013, 08:20:08 AM by Bohb Daishi »
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core

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Re: Payment - Settled In Full
« Reply #3 on: November 11, 2013, 08:37:38 AM »
Current bid: Core @ $16.83 (85% discount). Anyone else interested?  8)

Hey now, FOK means no time to take bids or wait for status changes.  There's a way to make the trade even during payment processing.  Of course I'm not going to spill the beans and you're probably not interested in giving me your password so I guess I am forced to wait.  I'll still take them after processing as long as they don't say Default/Chargeoff/PaidOff.  Otherwise no.  That's the gamble, see?

Bohb Daishi

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Re: Payment - Settled In Full
« Reply #4 on: November 11, 2013, 09:05:43 AM »
I'll still take them after processing as long as they don't say Default/Chargeoff/PaidOff.  Otherwise no.  That's the gamble, see?

But of course. I'm just shamelessly trying to see if I can get a better deal than an 85% discount. It's only convenient that I have the excuse of the "payment processing" delay... ;)
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core

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Re: Payment - Settled In Full
« Reply #5 on: November 11, 2013, 09:28:31 AM »
See, who needs FOLIOfn at all?  LC would just need to add a simple form where you enter the proposed trade and then I log in and approve it on my end.  Done.  Notes and cash immediately transferred.  Best of all, we don't have to give Peter any commissions.  He can just sleep well knowing that he has served mankind or whatever it is that he does.  :)

DanB

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Re: Payment - Settled In Full
« Reply #6 on: November 11, 2013, 02:56:31 PM »
See, who needs FOLIOfn at all?  LC would just need to add a simple form where you enter the proposed trade and then I log in and approve it on my end.  Done.  Notes and cash immediately transferred. Best of all, we don't have to give Peter any commissions.  He can just sleep well knowing that he has served mankind or whatever it is that he does.  :)

Huh? Peter gets a commission when you trade now? Must have missed that development.  :)

New Jersey Guy

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Re: Payment - Settled In Full
« Reply #7 on: November 11, 2013, 03:09:18 PM »
" LC would just need to add a simple form where you enter the proposed trade and then I log in and approve it on my end."

  Having trades pass through you would be like asking Blackbeard the Pirate to hold your wallet.
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core

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Re: Payment - Settled In Full
« Reply #8 on: November 11, 2013, 03:13:46 PM »
Huh? Peter gets a commission when you trade now? Must have missed that development.  :)

Good morning, Dan.  It's only noon out there.  No, I said we _don't_ have to pay a commission to Peter.  If the trade was "pre-arranged" here on Peter's site and executed on LC.com, there would be no commissions at all.  Dan you better get your green-eyed mistress to make you some coffee.

Having trades pass through you would be like asking Blackbeard the Pirate to hold your wallet.

I meant "I" as in the buyer.  Any buyer would have to log in and approve the trade.  Same as you have to log into paypal to pay an ebay invoice.  After re-reading the way I phrased it, yes I can see how it could have been worded better.
« Last Edit: November 11, 2013, 03:20:54 PM by core »

DanB

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Re: Payment - Settled In Full
« Reply #9 on: November 11, 2013, 03:50:25 PM »
Huh? Peter gets a commission when you trade now? Must have missed that development.  :)

Good morning, Dan.  It's only noon out there.  No, I said we _don't_ have to pay a commission to Peter.  If the trade was "pre-arranged" here on Peter's site and executed on LC.com, there would be no commissions at all.  Dan you better get your green-eyed mistress to make you some coffee.

Having trades pass through you would be like asking Blackbeard the Pirate to hold your wallet.

I meant "I" as in the buyer.  Any buyer would have to log in and approve the trade.  Same as you have to log into paypal to pay an ebay invoice.  After re-reading the way I phrased it, yes I can see how it could have been worded better.

No coffee around here..............just Mimosas...........& she consumes most of that before going to work.

core

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Re: Payment - Settled In Full
« Reply #10 on: November 11, 2013, 04:06:42 PM »
No coffee around here..............just Mimosas...........& she consumes most of that before going to work.

A female psychologist getting liquored up before going in to consult with the mentally disturbed.  Oh my, I LOVE IT.  Dan, your household life sounds more fun by the day!  (Is that why you're crabby this morning?  A wee bit of a hangover?)  My my.  I've had some court-ordered sessions with those female types. You know what shrinks aren't supposed to do with patients.  They do.

DanB

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Re: Payment - Settled In Full
« Reply #11 on: November 11, 2013, 06:15:18 PM »

No coffee around here..............just Mimosas...........& she consumes most of that before going to work.

A female psychologist getting liquored up before going in to consult with the mentally disturbed.  Oh my, I LOVE IT.  Dan, your household life sounds more fun by the day!  (Is that why you're crabby this morning?  A wee bit of a hangover?)  My my.  I've had some court-ordered sessions with those female types. You know what shrinks aren't supposed to do with patients.  They do.

Counselor to marginally disturbed "wayward girls" actually, but your point is very well taken. But we all do what we need to do right? For example tomorrow, if I go, I'll possibly have to do a few lines just to get through the p2p meetup. A bunch of "professionals" all talking in monotones usually cause me to have suicidal thoughts................. & we will after all be on the 11th floor.  :)

Bohb Daishi

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Re: Payment - Settled In Full
« Reply #12 on: November 12, 2013, 02:16:53 AM »
Current bid: Core @ $16.83 (85% discount). Anyone else interested?  8)

Any other bidders? This obvious accounting error is a very rare opportunity! How often do you find notes that claim to be paid off, but where the payment hasn't posted yet? Clearly LendingClub made a mistake here. A mistake that you can profit on!

Act now and you'll also receive this extra note for FREE (just pay separate $1.49 processing): https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=1228916&order_id=12108150&note_id=9923945

Plus, if you mange to outbid him in the next 3 days, I'll also throw in the smug satisfaction of knowing that you beat Core at his own game. ;D
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Bohb Daishi

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Re: Payment - Settled In Full
« Reply #13 on: November 19, 2013, 09:52:26 AM »
The payment due date was the 10th, but Folio still claims that these notes are in the "four business day" period. This is getting ridiculous...

Core, are you still interested in them?
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core

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Re: Payment - Settled In Full
« Reply #14 on: November 19, 2013, 12:07:01 PM »
Sure, as long as you haven't had them wasting away on Folio for days trying to fetch a better price. ;)  I doubt I'll make anything on them, but they'll look good in my curio cabinet.