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  #851  
Old 12-13-2017, 09:34 AM
wguy123 is offline
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Originally Posted by Mama Zappa View Post
I've quit reinvesting - which reminds me, I have some cash accruing there that I need to siphon off. I've had something like 14 defaults in the past 12 months, which is insane.
It is still making money, just not as much. From my Nov statement: Total $7840. Year to date interest minus losses = $667. I have had $175 in charged off loans so it would be nice to have that extra $175. However, that $667 on $7840 still isn't bad.

I am seeing more going late though.
  #852  
Old 01-01-2018, 09:31 AM
amarone is offline
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I lost money this month, not for the first time. Charge-offs were nearly 3% of my portfolio. According to Quicken, my return for 2017 was 0.27% Lending Club continues to claim that my annualized return is over 5%

Last edited by amarone; 01-01-2018 at 09:32 AM.
  #853  
Old 01-15-2018, 09:04 AM
Mama Zappa is offline
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I had 14 charge off last year. I have 5 in 30-120-days-late status which I presume will charge off soon. Another one in 15-30 days late (but that was paid late at least once before).

I think most of these are ones that were picked via the automated investing.
  #854  
Old 01-15-2018, 09:33 AM
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Originally Posted by Mama Zappa View Post
I had 14 charge off last year.
I had 109
  #855  
Old 01-15-2018, 05:58 PM
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Originally Posted by amarone View Post
I had 109
Ouch!!

What percentage of your total loans would that be? I'm small potatoes, so that 14 works out to a bit over 10% of my holdings.
  #856  
Old 01-15-2018, 08:22 PM
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Originally Posted by Mama Zappa View Post
Ouch!!

What percentage of your total loans would that be? I'm small potatoes, so that 14 works out to a bit over 10% of my holdings.
I cannot find out easily. I have 364 currently, but a fair number will also have been paid off during the year, so I do not know the total. I suppose as I only did 3-year loans and have not invested for a while, one third of my loans would pay off during the year (less charge-offs). The maximum loans I would have had at the start of the year would be (364 + 109) * 3/2 = 710, hence over 15% have defaulted.
  #857  
Old 01-16-2018, 02:59 AM
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I've made several loans on Kiva but the most recent is 4 months late in repayment. To my knowledge, there is no recourse.
  #858  
Old 09-14-2018, 09:25 AM
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I'm still in LC but I stopped adding new funds long ago - just reinvesting as I go. However, the last few days, there hasn't been anything to reinvest in (I still do manual buying of notes). This morning, there were a whopping 6 notes available...total. That's without any filtering. 6 for everyone on LC to nab. I've seen it get bad before, but not like this. I wonder what's up?
  #859  
Old 09-14-2018, 12:23 PM
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I just logged in and, without filtering, I see 76 available.
  #860  
Old 09-14-2018, 01:54 PM
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I just logged in and, without filtering, I see 76 available.
Yep, I see 69 now. The amount goes up and down. However, while 70 is better than 6, it's still not very many.
  #861  
Old 09-14-2018, 04:00 PM
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Low interest rates meaning borrowers go with old-line lenders rather than peer-to-peer perhaps?

Or people easing up on consumer debt in general? (I kid)
  #862  
Old 09-15-2018, 01:36 AM
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I tried it out with $2,000 and all of my C or lower loans defaulted. Fortunately I went in cautiously with 2/3 either A or B but almost half of my B loans defaulted. So I lost a bunch and then it takes forever to get it out, I still got $750 in class A loans waiting to pull out.

I would recommend playing the stock market with Robinhood for free.
  #863  
Old 09-16-2018, 10:21 AM
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I tried it with $250, just to see how I'd do. Picked B-D (80% C, 10% B and 10% D) loans. I haven't had a single default.

StG
  #864  
Old 09-16-2018, 06:53 PM
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Originally Posted by Carryon View Post
I tried it out with $2,000 and all of my C or lower loans defaulted. Fortunately I went in cautiously with 2/3 either A or B but almost half of my B loans defaulted. So I lost a bunch and then it takes forever to get it out, I still got $750 in class A loans waiting to pull out.

I would recommend playing the stock market with Robinhood for free.
Wow...that's terrible luck! I put in $200/month for a few years and ended up putting in nearly $7000 (I stopped adding money a while back). I've had quite a few default but I'm up about $1500 overall so far. I keep thinking of getting my money out, but $7000 is a dinky bit of my investment portfolio. I've done all C's and B's with about 80% in the B category.
  #865  
Old 09-17-2018, 07:58 AM
Mama Zappa is offline
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I quit reinvesting a while back - a much larger percentage of loans had been going bad than ever before, and I just wasn't paying that much attention. Periodically I'll withdraw the cash that accumulates.
  #866  
Old 09-18-2018, 10:11 AM
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And this morning there are a whopping three notes for all to invest in. Get'em while you can!
  #867  
Old 01-29-2019, 08:00 AM
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Well, after 7.5 years in Lending Club I think I am done. A few months ago I turned off automated investing and let my available cash accumulate. I now have the $1000 I originally invested in available cash which I am going to transfer back into my bank account this afternoon. After the transfer I will turn on automated investing again and leave my Lending Club account on autopilot.

I will check my LC account periodically but will not transfer any more funds into it. At the end of 2019 I will evaluate and decide if it makes sense to keep the account open. LC was an interesting experiment for me but this is no way to invest, IMO.

Last edited by Onomatopoeia; 01-29-2019 at 08:02 AM.
  #868  
Old 01-29-2019, 09:21 AM
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Originally Posted by Onomatopoeia View Post
Well, after 7.5 years in Lending Club I think I am done. A few months ago I turned off automated investing and let my available cash accumulate. I now have the $1000 I originally invested in available cash which I am going to transfer back into my bank account this afternoon. After the transfer I will turn on automated investing again and leave my Lending Club account on autopilot.

I will check my LC account periodically but will not transfer any more funds into it. At the end of 2019 I will evaluate and decide if it makes sense to keep the account open. LC was an interesting experiment for me but this is no way to invest, IMO.
I gave up after my last post. Well, I had stopped transferring new money in but I was still reinvesting. I now transfer out $100/week. Within 2.5 years I should be out. I invested $7000 and am currently up a total of about $1700 over 7'ish years.

There were a few things that pushed me out:
- Very few notes to buy at times
- It became near impossible to sell notes on Folio without huge discounts
- A large amount of notes going into late status. That seems to have cleared up some.

The biggest reason is: I got bored of it. I wouldn't ever put too much money into it and it isn't a fun hobby
  #869  
Old 01-29-2019, 12:35 PM
amarone is offline
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Lending Club was my best-performing US investment last year at 11%, but I am down to $250 in there now from a high of over $17,000. I should be out completely in the next few months.
  #870  
Old 08-14-2019, 08:37 AM
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Update: Still transferring out $100 per week. I've now transferred out $3700 and have a balance of $4700 (total investment of $6650). At some point I'll have to slow down the frequency of $100/week.
  #871  
Old 08-14-2019, 01:50 PM
amarone is offline
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Apart from one note that is 90+ days late, so will be charged off, I am now out. For anyone who did not read or cannot remember my earlier posts, I started my exit because chargeoffs had rocketed, starting about 4 - 5 years ago. I used automated investing, and felt that either I was being left with the dregs, or the whole concept was failing.

I now have interesting numbers to back up the fall in returns. Each year 2011 - 2014 I would make an investment, and designate that to be a portfolio. Any interest was reinvested, with a separate portfolio for each year. I stopped in 2016. I only bought 3 year notes. The following shows the total return I got from each portfolio. Note, you cannot calculate annual returns from this as you start receiving your own capital back after one month, and some people pay off their loans early.


2011 lump sum 6.1%
2011 reinvestment 8.8%
2012 lump sum 13.0%
2012 reinvestment 14.3%
2013 lump sum 13.0%
2013 reinvestment 13.4%
2014 lump sum 7.8%
2014 reinvestment 5.1%
2015 reinvestment 5.0%
2016 reinvestment 2.7%

I got out simply by stopping reinvestment and transferring cash out. It therefore took three years. My goal was to be out before the next recession, when presumably chargeoffs will hit the roof. It could be I made it just in time.
  #872  
Old 08-15-2019, 12:10 AM
Mama Zappa is offline
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I'm harvesting my cash periodically. I'm down to a total value of about 340 dollars (of which a hundred or so is in cash).

I too saw a massive increase in chargeoffs. I've been invested in a total of 314 loans, of which 33 are charged off. Another 1 is several months late and 2 more are 2+ weeks late.

Nominally I've still made a profit over the years, but the returns are definitely declining.
  #873  
Old 08-15-2019, 12:18 AM
Mama Zappa is offline
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Interesting: they quit offering grades F and G notes a couple years ago - and about 6 weeks ago they quit offering E notes as well. I guess they were seeing huge numbers of defaults.
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