Author Topic: No Pmt. since August, but still current.  (Read 3912 times)

New Jersey Guy

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No Pmt. since August, but still current.
« on: April 03, 2013, 11:19:16 AM »
Here's a military loan that I just noticed hasn't had a payment since last August!

Would LC "Freeze" an account if a soldier (possibly) gets deployed?

https://www.lendingclub.com/account/loanPerf.action?loan_id=513069&order_id=4047153&note_id=1638795

Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

SarahV

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Re: No Pmt. since August, but still current.
« Reply #1 on: April 03, 2013, 11:37:24 AM »
There are a lot of things that can happen (financially) when a soldier gets deployed - for example, they can delay bankruptcy proceedings, they are protected from eviction, they can have debts reduced to 6% interest rates... I wouldn't be surprised if this was a similar kind of thing.

You can read up on the "Soldiers' and Sailors' Civil Relief Act" (edit: the updated version of this is "Servicemembers Civil Relief Act," sorry) which is where these regulations are... maybe you'll find something there.

New Jersey Guy

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Re: No Pmt. since August, but still current.
« Reply #2 on: April 03, 2013, 11:49:41 AM »
" maybe you'll find something there."

It's no biggie....I was just curious.  The amount on the loan is small.  It would be nice, though, if LC would have listed something in the log to indicate this.  A "Customer contacted Lending Club" note back in August would have provided a clue.  Or, how about a payment plan that would show $0 due for the next 12 months? 
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014