Author Topic: Account value question - just starting  (Read 4068 times)

pasvincome

  • Newbie
  • *
  • Posts: 22
    • View Profile
Account value question - just starting
« on: January 01, 2014, 10:36:35 PM »
So I just started a few months ago.

I deposited $X.

Main screen says $81.18 in "Interest Received". Account value is $(X + 52.32).

Why would I be missing the $28.86 in interest that I supposedly received but doesn't seem to be reflected in the account value?

constontino

  • Newbie
  • *
  • Posts: 30
    • View Profile
    • Email
Re: Account value question - just starting
« Reply #1 on: January 01, 2014, 11:07:05 PM »
There are many reasons why the numbers don't tie.

You have to take into consideration markups paid (this comes out of your cash and value) although any interest is calculated straight


So if you bought $100 worth of notes for 120 and you made $10 interest then you have to take +$10 - $20 and your gain so far would be -10 although LC will show you made interest of $20.

2nd if you have defaults or chargeoffs these come straight off your account value.

I hope this helps.

pasvincome

  • Newbie
  • *
  • Posts: 22
    • View Profile
Re: Account value question - just starting
« Reply #2 on: January 01, 2014, 11:24:55 PM »
There are many reasons why the numbers don't tie.

You have to take into consideration markups paid (this comes out of your cash and value) although any interest is calculated straight


So if you bought $100 worth of notes for 120 and you made $10 interest then you have to take +$10 - $20 and your gain so far would be -10 although LC will show you made interest of $20.

2nd if you have defaults or chargeoffs these come straight off your account value.

I hope this helps.

Account is less than 3 months old. No defaults. No chargeoffs. No notes bought via Folio (so they were all $25 loans which I paid $25 for). No "markups". Any other reasons that it might be so?

New Jersey Guy

  • Hero Member
  • *****
  • Posts: 914
  • Hell Yea it's a Hemi!
    • View Profile
    • Email
Re: Account value question - just starting
« Reply #3 on: January 01, 2014, 11:53:04 PM »
Do you have any past due notes?

If you're running your account value using the "Customized Adjustment" option, LC will subtract value from your total depending on the severity of the late notes.  In other words, you'll lose $ even if you have one note in "Grace Period".

Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

pasvincome

  • Newbie
  • *
  • Posts: 22
    • View Profile
Re: Account value question - just starting
« Reply #4 on: January 02, 2014, 12:00:05 AM »
Do you have any past due notes?

If you're running your account value using the "Customized Adjustment" option, LC will subtract value from your total depending on the severity of the late notes.  In other words, you'll lose $ even if you have one note in "Grace Period".





Adjustment for Past-Due Notes   ( $0.00 )



It's not that. Turned it off and the numbers all stay the same, as well.

Rob L

  • Hero Member
  • *****
  • Posts: 2065
    • View Profile
Re: Account value question - just starting
« Reply #5 on: January 02, 2014, 12:06:54 AM »
Click more details. What are the service charges?

pasvincome

  • Newbie
  • *
  • Posts: 22
    • View Profile
Re: Account value question - just starting
« Reply #6 on: January 02, 2014, 12:09:20 AM »
Click more details. What are the service charges?


Service Charges:    ( $3.86 )

Rob L

  • Hero Member
  • *****
  • Posts: 2065
    • View Profile
Re: Account value question - just starting
« Reply #7 on: January 02, 2014, 12:14:16 AM »
You have to subtract the service fee (LC's 1% cut) from account value, so now you're off 28.86 - 3.86 = exactly 25.00.

pasvincome

  • Newbie
  • *
  • Posts: 22
    • View Profile
Re: Account value question - just starting
« Reply #8 on: January 02, 2014, 12:21:29 AM »
You have to subtract the service fee (LC's 1% cut) from account value, so now you're off 28.86 - 3.86 = exactly 25.00.

There's a "service charge" and a "service fee"? They're separate? What exactly am I paying for with "Service Charges", then?

Rob L

  • Hero Member
  • *****
  • Posts: 2065
    • View Profile
Re: Account value question - just starting
« Reply #9 on: January 02, 2014, 12:25:15 AM »
Just noticed .. why is this thread in the Interest Radar topic area?
Are you looking directly at your LC account summary page?