Author Topic: Almost made it  (Read 2360 times)

yojoakak

  • Hero Member
  • *****
  • Posts: 763
    • View Profile
    • Check out my Greasemonkey/Tampermonkey script for LendingClub here
    • Email
Almost made it
« on: August 19, 2016, 05:19:11 PM »
This guy seems to owe about $60 on his $16K loan ($0.09 / $25 * $16,800). He made a big payment in Feb/March and then stopped paying. LendingClub calls him at least a few times a week, but hardly ever leaves a message.

How do you guys interpret this?

https://www.lendingclub.com/account/loanPerf.action?loan_id=6606563&order_id=36370474&note_id=28764606

Fred93

  • Hero Member
  • *****
  • Posts: 2231
    • View Profile
Re: Almost made it
« Reply #1 on: August 19, 2016, 05:21:33 PM »
I don't know how to interpret it.  I've had several similar loans which pay on time every month right up to the end, and then have a few dollars left that they don't ever pay.  I wonder why this happens.

Rob L

  • Hero Member
  • *****
  • Posts: 2119
    • View Profile
Re: Almost made it
« Reply #2 on: August 19, 2016, 06:30:10 PM »
I've seen a few of these too. Very odd.
My thoughts were perhaps that the borrower was confident he/she had paid in full and "on principle" would not pay another nickel.
Borrower figures any credit rating agency would ignore it as a silly and trivial borrower / lender dispute.
One call to the credit agency would make it disappear. Always gave the borrower the benefit of a legitimate gripe on these.
Just a theory.

TheReaper

  • Newbie
  • *
  • Posts: 23
    • View Profile
Re: Almost made it
« Reply #3 on: August 22, 2016, 04:23:44 PM »
Yep, I have several of those in my severely late portfolio.  It is mind boggling...but like Rob L...they are just being stubborn and holding to principles, possibly changed addresses or tel number (unlikely but possible).  I'm not sure how a credit agency would handle this.  I wouldn't risk a shock to my rating over  $60...I'd pay what I owed if I were the borrower.

Rob L

  • Hero Member
  • *****
  • Posts: 2119
    • View Profile
Re: Almost made it
« Reply #4 on: August 22, 2016, 05:27:04 PM »
"What we got heah here is ... failure to communicate" (Strother Martin RIP  :( ).
Yeah, I'd probably mail "the man" that $60, but I have a stubborn streak and the occasional un-bridled disrespect for "authority".
Could by why that movie is one of my favorite classics of all time.
Someone tells me pay X and we're square. I do then then asks for more and my emotions more than brains could easily kick in.
Don't know that's the story here, but could be.