Author Topic: Does Lending Club ever sue?  (Read 22083 times)

PennySaved

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Re: Does Lending Club ever sue?
« Reply #15 on: February 17, 2015, 09:05:57 AM »
Your 2014 Consolidated 1099 Package and Details from LendingClub only reports your 2014 chargeoffs.  Recoveries reported in 2014 could be from other loan charge-offed in years prior to 2014, if you were investing with Lending Club prior to 2014. 

hoggy1

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Re: Does Lending Club ever sue?
« Reply #16 on: February 17, 2015, 09:13:40 AM »
Good thinking, but I have only 2014 activity.

Yes rawraw, I wrote to LC.
Steve

hoggy1

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your not going to believe this!
« Reply #17 on: February 18, 2015, 07:35:30 AM »
Oh man, your not going to believe this!

I wrote to LC about my mystery 1099 "recovery". This is my one and only "ineligible loan" of the famous November fiasco beat to death here.

http://www.lendacademy.com/forum/index.php?topic=2764.msg24545#msg24545

One thing is certain: LCs SCREW-UP IS NOT MY SHORT TERM CAPITAL GAIN

For those of you with dozens of loans you will be taxed on LCs fix for their screw up. Who said no harm, no foul?

Steve

hoggy1

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Re: Does Lending Club ever sue?
« Reply #18 on: February 18, 2015, 08:06:38 AM »
CORRECTION - the cost basis is correctly recorded.
Steve

BruiserB

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Re: Does Lending Club ever sue?
« Reply #19 on: February 20, 2015, 09:11:53 PM »
Were you notified when the recovery happened many years later and see your share deposited in your account?

Does LencingClub send notifications on Recovery? I've never paid any attention.

I have no idea when the Recoveries came in. It's too hard to search for loans manually in Account Activity, and my scraper stopped working when they redesigned that page.

I had a bunch of recoveries posted to my account today.  Take a look at your account activity for 2/20/15.....

hoggy1

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Re: Does Lending Club ever sue?
« Reply #20 on: February 22, 2015, 05:45:48 PM »
I had a bunch of recoveries posted to my account today.  Take a look at your account activity for 2/20/15.....

Where do they show up in acct activity? I assume under payments  but what column: late fee? There is no recovery column on mine.
Steve

Lovinglifestyle

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Re: Does Lending Club ever sue?
« Reply #21 on: February 22, 2015, 06:43:21 PM »
My 3 cents worth was under Miscellaneous.  My surprise was $600 total payments received on the 20th.  $60 was from 3 pre-paid notes, but still $600 in one day is unusual for my account--as in, never happened before.

BruiserB

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Does Lending Club ever sue?
« Reply #22 on: February 23, 2015, 10:43:26 AM »

I had a bunch of recoveries posted to my account today.  Take a look at your account activity for 2/20/15.....

Where do they show up in acct activity? I assume under payments  but what column: late fee? There is no recovery column on mine.

Under the "Type" column they show as "Recovery".  Each recovery shows as an individual line item.....they aren't aggregated like daily payments are.   If you sort at the top of the page, select "Miscellaneous" for type.


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