Author Topic: How to find old data on charged off loans now receiving recoveries?  (Read 891 times)

Lovinglifestyle

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This was probably discussed before? 

I searched my total loans for a particular example of what a charged off loan that received a recovery payment in Feb. 2019 looked like at the time it was charged off.  The loan has vanished from my records.  Just now, I tried to find a different loan: nothing.  About a year ago, also tried and gave up.  My only idea is that I sold the loans, but I'm getting recovery payments anyway.  Did not look up sold loans.  Any ideas? (I tried to avoid user incompetence, but who knows.)

Did not want to hijack the negative account balance thread from rj2, but that's what got me started on this wild goose chase. btw, I haven't seen a negative balance and now have $4.00.  Thanks Fred93, good to know.  I did read about the Feb. 12, 2019 payment policy change when it came out.

jennrod12

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Re: How to find old data on charged off loans now receiving recoveries?
« Reply #1 on: March 08, 2019, 03:21:14 PM »
This is how I did it.  From Summary/My Notes at a Glance I pulled up all my charged off loans.  I set the dropdown choice for how many loans to show on a page to "All".  Then I used Ctrl-F to open a search window and put in the Loan ID of the loan that had recoveries.  That found it for me.

I have never sold a loan, so I don't quite know how that would factor into the equation.  But I wouldn't be very happy as a loan buyer to know that, if one of the loans I bought on the secondary market was charged off, recoveries would go back to the original owner!

Jenn

jennrod12

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Re: How to find old data on charged off loans now receiving recoveries?
« Reply #2 on: March 08, 2019, 03:36:13 PM »
By the way, I just got a recovery from a loan that charged off in 2017!  The recovery was $0.43, and 8 cents were taken out in fees.

When I found the loan in my holdings, it said I'd received over $4.00 in recoveries, so I guess there have been other recoveries on this loan in the past?  I didn't look through all my statements to find out.

Jenn

Lovinglifestyle

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Re: How to find old data on charged off loans now receiving recoveries?
« Reply #3 on: March 08, 2019, 08:05:57 PM »
Thanks, Jenn.  The way you said you do it is the way I did it too.  So I went back and fiddled with it.  Sure enough, the loan showed up after deleting the last # in the LID and re-typing it.  Finicky system.  Used to do it that way, by re-clicking and re-entering to get past the "not found".  Doesn't always work, but by the 3rd or 4th try it did long ago and still does.  The loans are there!  Thank you again.  btw, One note had an updated collection log (BK charged off on 2-20-19), the other did not.