Can I recover funds after a loan has been charged-off?
Loans that are charged-off may still have outstanding funds that are eventually recovered. As such, it is possible to receive funds from a loan after it has been charged-off.
Once a loan is charged-off, Lending Loop will continue to pursue collection of the full arrears owing and will provide additional updates as any new developments arise, which can be found in the Loan Comments section of the Lender’s Dashboard.
Amounts recovered as a result of our actions will be applied to Lender’s accounts, which is reflected as Recovered Principal in the Lender’s Lifetime Earnings Details.