Lending Club Collection Log - Complete List

The Lending Club collection log is full of standardized updates to let you know the status of the note you purchased.  Below you will find a list of all the entries that I have seen. If I am missing any, please feel free to leave them in the comments and I will add them to my list. Additionally, you can read about how Lending Club deals with delinquent borrowers and the regulatory guidelines for dealing with borrowers.

Keep in mind that not all actions are listed in the collection log as noted on the Lending Club website:

To protect the identity and privacy of our borrowers, not all collections activities may be shared with investors. There may be more collection activities than those reported in the Collection Log below.

 

3rd party contacted Payment Solutions specialist and promised to pay
Account was recalled from external collections agency
Account was sold to a third party debt buyer
Account was sent to external collections agency
Attempted to collect payment
Attempted to contact borrower (no voicemail)
Bankruptcy Discharged
Borrower contacted Collections Agency
Borrower contacted Lending Club
Borrower contacted Lending Club and promised to pay
Borrower contacted Payment Solutions specialist and promised to pay
Borrower Deceased
Borrower filed for Chapter 7 Bankruptcy
Borrower filed for Chapter 13 Bankruptcy
Borrower located using alternative means (skip trace)
Borrower promised to pay
Charged off. Bankruptcy: economically infeasible to recover
Charged off. PAYMENT 120+ past due. Collections efforts exhausted. Recovery unlikely
Collection email sent to borrower: Account is seriously past due
Collection email sent to borrower: Account is past due
Collection email sent to borrower: Initial payment reminder
Collection email sent to borrower: no contact, please call us
Collections Agency attempted to contact borrower
Collections Agency attempted to contact borrower (no voicemail)
Collections Agency attempted to contact borrower (phone number out of service)
Contacted borrower
Email communication bounced back
Engaged external collections agency
Lending Club attempted to contact borrower (message left)
Lending Club attempted to contact borrower (no message left)
Lending Club attempted to contact borrower using alternative means (message left)
Lending Club attempted to contact borrower using alternative means (no message left)
Lending Club contacted borrower and borrower promised to pay
Lending Club contacted 3rd party and 3rd party was unable to pay at this time
Lending Club filed Proof of Claim (Chapter 13 Bankruptcy)
Notice sent to borrower: automated monthly payment failed due to non-sufficient funds
Notice sent to borrower: automated monthly payment failed due to account issue
Notified borrower of failed payment (e-mail)
PAYMENT Failed
PAYMENT received
Payment Solutions specialist attempted to contact borrower (message left)
Payment Solutions specialist contacted borrower and borrower promised to pay
Seeking to locate borrower using alternative means (skip trace)
Sent email to borrower