Author Topic: Experiences with Automated Account Liquidation?  (Read 612 times)

.Ryan.

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Experiences with Automated Account Liquidation?
« on: September 10, 2018, 09:28:59 PM »
I've been winding down my LC account for over a year now, but still have over 4k active notes. I've tried mass listing on folio, but it is super tedious with that many notes.

There are a couple of services out there that can help liquidate accounts. I know liquidp2p and Peercube have automated selling features that can be used for liquidation, and I am curious to any experiences people have with using these for this purpose.

I am very interested in accelerating my liquidation, but concerned with the potential loss by leveraging a service to help with this. Waiting out a natural liquidation is painful, but it's better than losing money. I'm curious as to what I should expect as to losses when using a service. All my notes are seasoned (1+ years old) in a well diversified portfolio across b-c-d loans.

I just don't want to hand over control and find out in the morning that my whole portfolio was sold overnight(awesome!!!) at a 90% discount(bad!!!!).

Anil, or anyone else, any thoughts?


AnilG

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Re: Experiences with Automated Account Liquidation?
« Reply #1 on: September 14, 2018, 01:18:46 AM »
Below are some of the relevant posts from PeerCube blog:

Six Steps to Automated Selling on Lending Club Folio Secondary Market
https://www.peercube.com/blog/post/six-steps-to-automated-selling-on-lending-club-folio-secondary-market

Enhancements to Automated Note Selling on Lending Club Folio Secondary Market
https://www.peercube.com/blog/post/enhancements-to-automated-note-selling-on-lending-club-folio-secondary-market

How to automate Note Selling on Lending Club Secondary Market with PeerCube?
https://www.peercube.com/blog/post/how-to-automate-note-selling-on-lending-club-secondary-market-with-peercube

On PeerCube, Folio LC > Pricing Overview also gives a good idea on what kind of discounts/premiums sellers are listing their notes at. PeerCube also offers multiple selling strategies and way to restrict selling to specific portfolio. Of course automated system can only do so much and are not fully idiot-proof.

Happy to answer any specific questions you may have here or through PeerCube contact page at https://www.peercube.com/welcome/contact
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Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com