Comments on: How to Account for Lending Club Defaults in Quicken

By: Gaurav

Gaurav — Thu, 18 Mar 2010 08:12:30 +0000

Does Lending Club provide a break up of the interest and principal received as repayment from borrower? Can anyone share the statement format sent by LC to lenders?

By: Nickel

Nickel — Fri, 19 Feb 2010 12:29:00 +0000

almost there: Just to be clear, I aggregate everything in a BUY, SELL, etc. transaction on a monthly basis. In other words, if I buy 10 x $25 notes in a certain month, I record a single $250 BUY transaction. You should click through the first link for full details if you’re interested.

By: almost there

almost there — Fri, 19 Feb 2010 06:18:14 +0000

That method of tracking would drive me bonkers keeping track of each time interest and principle were paid per note each month. Then each day there is a payment there is also their 1% fee taken out. I just use quicken to track what I have invested, adding interest each month and subtracting their service fee. I have had all interest reinvested, but am having second thoughts on that as the defaults are starting to mount.

By: Parasaur

Parasaur — Thu, 18 Feb 2010 20:54:27 +0000

Is the $25 signup bonus for new lenders still happening at LC? I’d be interested in investing with my “fun money”, but having an extra bonus would be nice. I’d also rather give the referral bonus to a blogger I follow than one I found by googling.
Thanks!