Author Topic: Unwinding Lending Club IRA  (Read 2426 times)

treyco

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Unwinding Lending Club IRA
« on: December 07, 2017, 10:34:52 AM »
Forum Members:

I have a small IRA with LC (about $6500) that I want to unwind and move out of LC.  I plan to just sell all my loans on the secondary platform rather than letting the loans bleed off over three years.  I have no idea how to maximize selling these loans on the secondary market that trades these.  Do you have any suggestions about asking price, etc?  Just sell at par or what?  I'm not obsessed with maximizing return, but also don't want to get taken to the cleaners.

I welcome your suggestions.

Sincerely,

Tom

Rob L

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Re: Unwinding Lending Club IRA
« Reply #1 on: December 07, 2017, 10:55:47 AM »
Start at a high markup, say (5%) and probably nothing will sell. Then walk it down. For the timing see:

https://forum.lendacademy.com/index.php/topic,4738.0.html

treyco

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Re: Unwinding Lending Club IRA
« Reply #2 on: December 08, 2017, 12:43:36 PM »
Thanks.  Helpful.  Have a good weekend.

lendingprosper23

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Re: Unwinding Lending Club IRA
« Reply #3 on: December 10, 2017, 07:56:11 PM »
its incredibly difficult to sell, which is partly why im out of lending for good. imagine needing a large sum of money in the future and being unable to get it without a disgusting discount? even 5% discount on notes with 20 payments left, never late, gets no bites.