Author Topic: New note in collection log?  (Read 9065 times)

Bohb Daishi

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Re: New note in collection log?
« Reply #15 on: February 03, 2014, 01:56:10 AM »
By the way, I see that someone purchased that $1k note from me less than 2 hours ago, at -70.10%.  If anyone here wanted it I hope you're the one you got it.  Without naming names.  Maybe some super bowl'er had a few too many Schlitz's and thought that the note looked like a good deal.  $641 loss for me.  It could have turned out worse.

I bought it. Even though it looks terrible at first glance, my gut is telling me otherwise. At the very least, my max loss is only ~$200, but the max gain is ~$750.

Just like those "payment - settled in full" notes, let's see who the greater fool is.  ;)
There are three ways to make a living in this business: be first, be smarter, or cheat.

foggie36

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Re: New note in collection log?
« Reply #16 on: February 12, 2014, 03:32:09 AM »
Looks like not a complete scam after all.  Looked at the note status and he made a payment on Wed.  Gut feeling seems to be working out a little after all!  Good call

Bohb Daishi

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Re: New note in collection log?
« Reply #17 on: February 12, 2014, 03:50:58 AM »
Looks like not a complete scam after all.  Looked at the note status and he made a payment on Wed.  Gut feeling seems to be working out a little after all!  Good call

Sometimes it's an art, not a science. But I've held off my gloating because I'm not out of the bag yet - the borrower didn't make a complete payment, so I'm still on the hook for most of what I paid for. It's making me even more nervous now because it's saying the FICO dropped even further to 525 (compared to the 750 it originated with).

If the borrower pays this thing current during next week's due date, I'm going to liquidate it as fast as I can.
There are three ways to make a living in this business: be first, be smarter, or cheat.

Lovinglifestyle

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Re: New note in collection log?
« Reply #18 on: June 05, 2014, 11:47:53 AM »
I received a collection log notice today that says:  Borrower promised to pay on 2011-01-01.

 http://www.interestradar.com/loan?LoanID=8594940
Note #:  24356108