Sunday, July 12, 2009

First Lending Club payment now "Processing"

Since I posted this morning about the first payment on my first Lending Club investment loan which is due today, I now notice some changes.

First, the Accured Interest is now back to what it should be rather than $0.00.

Second, the note Status column now says "Current" rather than "Issued." I presume that this means that Lending Club was able to perform the ACH debit from the borrowers bank account.

Third, if I click on that status and go to the Loan Performance screen, the Payment History section shows a Status of "Processing..."

The payment history does not yet have a date in the Completion Date column. My hunch is that this column will update as soon as the payment is credited to my account. The help bubble for that column says that it could take up to 4 business does to process the ACH transaction.

So, that's an improvement from what I was seeing this morning.

Still no report on the Account Activity screen.

Now to see how many days it takes before the payment is in fact actually credited to my account.

-- Jack Krupansky


At 4:02 PM EDT , Anonymous Anonymous said...

How long does it normally take for the payment to post? Still 4 days?


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