Author Topic: Tue 02/12/19 payments about 3 times higher than normal  (Read 681 times)

lascott

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Tue 02/12/19 payments about 3 times higher than normal
« on: February 15, 2019, 10:56:18 PM »
On Tue 02/12/19 payments in both my taxable and ROTH IRA were about 3 times higher than normal.  Not obvious why on that Tue.

Anyone else notice this?
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

anabio

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Re: Tue 02/12/19 payments about 3 times higher than normal
« Reply #1 on: February 16, 2019, 06:10:41 AM »
If I remember correctly LC stated that they were going to start crediting loan payments on the date they were due. If that was on the 12th then on the 12th you probably got credited for payments that would have been delayed about 4 days...so on the 12th you probably got payments that were scheduled for Feb 12, Feb 11, Feb 10, Feb 9.
As Will Rogers stated: : I'm not as concerned about the return on my money as I am the return of my money

Fred93

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Re: Tue 02/12/19 payments about 3 times higher than normal
« Reply #2 on: February 17, 2019, 12:30:45 AM »
Thursday used to be the big day.  (payments due on weekend days rolled in).  Perhaps with the new payment timing that has moved to Tuesday.

BruiserB

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Re: Tue 02/12/19 payments about 3 times higher than normal
« Reply #3 on: February 20, 2019, 12:51:13 PM »
Yea, here it is....

https://help.lendingclub.com/hc/en-us/articles/215481958-How-are-borrower-payments-received-?utm_source=internal&utm_medium=email&utm_campaign=inv_txn_clawback_all

The change started the 12th, so you would have gotten all of the payments that were in the old pipeline during that time.  I guess Tuesday will be the big payment day going forward, since weekend payments will be collected on Monday and then distributed to us on Tuesdays.

lascott

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Re: Tue 02/12/19 payments about 3 times higher than normal
« Reply #4 on: February 20, 2019, 03:53:45 PM »
Thanks much everyone and for the link to the notice.  I'm happy to watch my daily payments be above the basic payment with regular full payments. Also like Lending Clubs seemingly more aggressive collection process. Something better than nothing.
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y