Peer-to-peer lending sites: MSE guide discussion
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keyboardworrier wrote: »Various people on the other forums have voted for others to represent them on the committee, personally I don't understand the ramifications of this well enough so I didn't vote for anyone.
There are still legal constraints, though. If BDO can get the contracts and per-investor loan amounts they will be obliged to use them. And they have to at least try diligently to do so.0 -
MarkFromCornwall wrote: »Yes, me too. I would be happy for my available funds to be re-invested but since this isn't happening I am withdrawing them as I don't want to see them sitting there earning no interest.Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
Cashback sites: £900 | £30k in 2016: £30,300 (101%)0 -
I haven't lost any with LC - touches wood - to date. Or any other P2P so far - I am sure that is likely to change but it has been fun while it lasted. I have used up all the join / recommend bonuses I could so now it is a case of keeping funds in each as long as required to retain those bonuses.I’m a Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
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The committee can influence the direction and costs of the administration through their votes. Dualinvestor has the background to help prevent things going in pointless but expensive directions, so is my preferred choice. Dualinvestor will be happy to say who he is and his background if you contact him privately before deciding.
The only other notable person having put themselves forward is Steve Findlay of BondMason. I think his being on the committee is pretty much a foregone conclusion due to BM's exposure to the platform and the other support he has. A number of others have also nominated themselves and perhaps have a few supporting their nomination.
It seems very likely more than 5 people in total have been nominated, therefore there will be a vote among the wider creditor base - as I understand it the 5 with the largest share of creditor claims supporting them will be accepted onto the committee.0 -
I noticed today I had 3 loans repaid early during June.
I had email notification for one at the start of June but was not notified the two on the 18th - so the funds sat doing nothing for 2 weeks earning nothing.
In contacting RS cs, the manager then admits I'm not the first customer reporting the problem.
Maybe not a problem for many, but just heads-up if it could be...:(0 -
I noticed today I had 3 loans repaid early during June.
I had email notification for one at the start of June but was not notified the two on the 18th - so the funds sat doing nothing for 2 weeks earning nothing.illegitimi non carborundum0 -
You don't use the auto-reinvest facility?
For those in the same/similar boat, they may wish to know it's possible loans have been repaid earlier than expected and they haven't been informed.0 -
They also have an auto-withdraw facility, which I've made good use of.0
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