My last update on closing my Lending Club IRA and custodial
account at Strata Trust was Saturday. Nothing occurred on Sunday as is typical
with these two companies. On Monday, Strata creditted my account with the
second transfer of the recovery funds I was credited with at Lending Club,
$!2.25.
Tuesday was May 1st and Lending Club charged off
2 of my very late notes. This is typical and not unexpected. The last payments
on these notes were made on January 10th and 15th. The
remaining note was last paid on January 17th. Presumably this would
be charged off at the middle of May had I not intervened.
Nothing unusual has happened to my Lending Club account. I
can still log on and access my account as though I had not submitted the close
request 6 days ago. Since I agreed to forfeit my remaining notes, I expected to
see some change. Strata Trust did receive my last transfer of $6.89.
Strata received my last transfer on Wednesday May 2nd. I
called Strata and they needed to check to see if they had my forfeiture letter
(Lending Club indicated a week ago that they had sent it). They did and said
they’ll process it today and mail a check.
I’m working on summarizing the return rate that I received
on my Lending Club notes. I’ll put a notice on Twitter, @billlanke, when I post
this.
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