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    • Malthusian
    • By Malthusian 7th Nov 18, 2:47 PM
    • 4,906 Posts
    • 7,904 Thanks
    Malthusian
    Is there a forum for P2P or just this one thread for all of it ?
    Originally posted by dont_use_vistaprint
    There are a number of individual P2P threads for the bigger platforms, mostly started by Jamesd to prevent this thread being overwhelmed. Other than the thread for Kufflink, which I've seen bumped up a few times recently, I think most of them are basically dead. Jamesd hasn't posted for a while.
    • Ash Pole
    • By Ash Pole 8th Nov 18, 11:34 AM
    • 93 Posts
    • 9 Thanks
    Ash Pole
    I'm actually doing ok on the FC automated thing, 11.2%, over 1 year in and still no debts , I do constantly sell and take new loans, as theres no fees now for this, is this the trick or am I just extremely lucky ?
    Originally posted by dont_use_vistaprint
    Interesting idea. I guess loans are more likely to go bad in year 2 than year 1. How often do you sell and buy? I might give this a go, I've done ok with FC but I've not had rates in double figures.
    • Shedman
    • By Shedman 8th Nov 18, 12:49 PM
    • 228 Posts
    • 137 Thanks
    Shedman
    There are a number of individual P2P threads for the bigger platforms, mostly started by Jamesd to prevent this thread being overwhelmed. Other than the thread for Kufflink, which I've seen bumped up a few times recently, I think most of them are basically dead. Jamesd hasn't posted for a while.
    Originally posted by Malthusian
    Yeah I'd noticed Jamesd hasn't been around for a while ..used to find his pension posts very useful, especially a couple of years ago when I was being made redundant. Mind you I thought he was often a bit too over bullish on P2P. Hope all is OK with him.
    • dont_use_vistaprint
    • By dont_use_vistaprint 8th Nov 18, 12:56 PM
    • 127 Posts
    • 28 Thanks
    dont_use_vistaprint
    Interesting idea. I guess loans are more likely to go bad in year 2 than year 1. How often do you sell and buy? I might give this a go, I've done ok with FC but I've not had rates in double figures.
    Originally posted by Ash Pole
    Its quoting 7.7% as estimated but annualised and gross returns are both currently 11.2%

    I hold for 3-6, on the app you can see exactly when next payments are due so will sell after a decent collection. I then sell all and start again. It normally takes between 2-4 days to buy 5K-10K and much faster to sell, but I have noticed its slowed down a little.

    Its just occurred to me I may actually be buying back the same loans :-) But whatever, I'm getting no losses so far. I wish I could choose the loans like in the past, I know which ones to avoid like new stock ranges and payment for VAT is always good even if D or E
    Last edited by dont_use_vistaprint; 08-11-2018 at 12:59 PM.
    • Albermarle
    • By Albermarle 8th Nov 18, 4:30 PM
    • 196 Posts
    • 97 Thanks
    Albermarle
    wish I could choose the loans like in the past, I know which ones to avoid like new stock ranges
    I have an account with Lending Crowd, which is like a small version of FC but you can still pick your own loans if you want , although there is a lot less of them .
    Interestingly there have been a few recently asking for loans to fund additional Xmas stock /new seasonal ranges and I have avoided those as well . Seems too late to me to be borrowing money to fund stock for Xmas , which in retail terms is already well under way.
    I also read somewhere it is good to avoid loans to solicitors , financial advisers or small companies offering business services /consultancy.
    • AdrianC
    • By AdrianC 8th Nov 18, 4:44 PM
    • 19,061 Posts
    • 17,465 Thanks
    AdrianC
    Ah, LC.

    The one and only platform I've outright lost money on to date. Fortunately, the sign-on bonus (just) covered it. Not one single penny of recovery on the loans that went south.
    • Psyduck1980
    • By Psyduck1980 8th Nov 18, 4:57 PM
    • 57 Posts
    • 7 Thanks
    Psyduck1980
    I've read somewhere (quite possibly on here) that the defaults on Funding Circle are likely to go through the roof after Brexit. I realise that nobody has a crystal ball but I just wondered if that was the general consensus and, as such, if people are intending to close out their positions beforehand?
    • AdrianC
    • By AdrianC 8th Nov 18, 5:02 PM
    • 19,061 Posts
    • 17,465 Thanks
    AdrianC
    I've read somewhere (quite possibly on here) that the defaults on Funding Circle are likely to go through the roof after Brexit. I realise that nobody has a crystal ball but I just wondered if that was the general consensus and, as such, if people are intending to close out their positions beforehand?
    Originally posted by Psyduck1980
    Anybody saying they can predict what'll happen to anything "after Brexit" is lying to you.


    And that includes Theresa May.
    • dont_use_vistaprint
    • By dont_use_vistaprint 9th Nov 18, 9:32 AM
    • 127 Posts
    • 28 Thanks
    dont_use_vistaprint
    Ah, LC.

    The one and only platform I've outright lost money on to date. Fortunately, the sign-on bonus (just) covered it. Not one single penny of recovery on the loans that went south.
    Originally posted by AdrianC
    One thing that seems to be better with FC than others is their ability to recover. I would expect since IPO, they have some good leadership in this area, they are already the largest P2P and if they are growing the company still they need to make sure they have the best expertise in this area.
    • dont_use_vistaprint
    • By dont_use_vistaprint 9th Nov 18, 9:39 AM
    • 127 Posts
    • 28 Thanks
    dont_use_vistaprint
    Ah, LC.

    The one and only platform I've outright lost money on to date. Fortunately, the sign-on bonus (just) covered it. Not one single penny of recovery on the loans that went south.
    Originally posted by AdrianC
    How can we track the overall amount of default and ability to recover across different platforms. Is this published anywhere it can be compared.

    I looked at the Lending crowd and my gut instinct looking around the site was they wouldn't have a clue how to recover. Plus I dont want to set my rates, I want experts in risk to do it for me, what you just said above confirms my instincts! What value are they actually adding ?
    • stehouk
    • By stehouk 9th Nov 18, 11:33 AM
    • 172 Posts
    • 70 Thanks
    stehouk
    One thing that seems to be better with FC than others is their ability to recover. I would expect since IPO, they have some good leadership in this area, they are already the largest P2P and if they are growing the company still they need to make sure they have the best expertise in this area.
    Originally posted by dont_use_vistaprint
    The way i look at it (i'm no expert and only an opinion) have they sold/floated the company before brexit/recession hits, taken the money and run, as for recoveries well it is painfully slow and if they hadn't sold the loans in the first place maybe i would have still been investing with them.
    • scaredofdebt
    • By scaredofdebt 9th Nov 18, 11:51 AM
    • 1,185 Posts
    • 571 Thanks
    scaredofdebt
    Just a word of warning if using Funding Secure. I have a loan with them that finished on 21st July but I still don't have access to the funds. So if you don't want your money tied up for unexpectedly long periods of time steer clear.

    I am still earning interest daily but not sure when the money will be available to withdraw, their best "guess" is "in a few weeks".

    Luckily I only have fairly trivial sums invested as I was testing the waters.
    Make 2018 in 2018 Challenge - Total to date 2,108
    • masonic
    • By masonic 9th Nov 18, 1:28 PM
    • 10,099 Posts
    • 7,383 Thanks
    masonic
    Just a word of warning if using Funding Secure. I have a loan with them that finished on 21st July but I still don't have access to the funds. So if you don't want your money tied up for unexpectedly long periods of time steer clear.
    Originally posted by scaredofdebt
    True of all P2P of this type unfortunately, not sure if your loan has actually repaid, but some won't repay and recoveries can take many months or several years in the worst cases.
    • Albermarle
    • By Albermarle 10th Nov 18, 4:25 PM
    • 196 Posts
    • 97 Thanks
    Albermarle
    Ah, LC.

    The one and only platform I've outright lost money on to date. Fortunately, the sign-on bonus (just) covered it. Not one single penny of recovery on the loans that went south.
    I joined Lending Crowd a couple of years ago, and then after looked at their board on the P2P forum and it was full of negative comments like this , so I trod carefully but so far going OK..Not perfect but OK .
    In the last 12 months the flow of loans has increased a lot and it appears at least they are more active chasing late payments , defaulters etc than in the past
    • Albermarle
    • By Albermarle 10th Nov 18, 4:29 PM
    • 196 Posts
    • 97 Thanks
    Albermarle
    How can we track the overall amount of default and ability to recover across different platforms. Is this published anywhere it can be compared.
    The problem is that you can not rely on any info on this subject, as each platform takes a different view of what are arrears, defaults and how to report them.
    The main tricky point is when is a very late/non paying borrower is declared a default. A very very long time/never on some platforms.
    • shoi
    • By shoi 12th Nov 18, 11:00 AM
    • 143 Posts
    • 36 Thanks
    shoi
    Is there a forum for P2P or just this one thread for all of it ?

    ...
    On the other platforms I am very choosy, but not getting above 7-8%
    Originally posted by dont_use_vistaprint
    p2pfrank.com
    and I suppose I should mention p2pindependentforum.com but just today it's my turn to be banned with no notice no appeal and no idea why, but many people have been banned similarly (I think by mrclondon the admin who seems to enjoy his powers overmuch)


    7-8% after defaults is pretty good. Have you seen what happens to the 12% sites?
    • justme111
    • By justme111 12th Nov 18, 11:05 PM
    • 3,042 Posts
    • 2,946 Thanks
    justme111
    Sometimes it happens if you try to access it on mobile - something to do with IP address and mobile provider , not real ban.
    • AdrianC
    • By AdrianC 13th Nov 18, 8:25 AM
    • 19,061 Posts
    • 17,465 Thanks
    AdrianC
    7-8% after defaults is pretty good. Have you seen what happens to the 12% sites?
    Originally posted by shoi
    So what pre-default rate are you looking at, for 7-8% after defaults?
    • dont_use_vistaprint
    • By dont_use_vistaprint 13th Nov 18, 8:30 AM
    • 127 Posts
    • 28 Thanks
    dont_use_vistaprint
    The problem is that you can not rely on any info on this subject, as each platform takes a different view of what are arrears, defaults and how to report them.
    The main tricky point is when is a very late/non paying borrower is declared a default. A very very long time/never on some platforms.
    Originally posted by Albermarle
    They should be able to provide this, its basic credit control debtor reporting of amounts outstanding in each of 0-30, 31-60 late etc. No different really from unpaid invoice reports. With larger P2P outfits like LCF you get a monthly report
    • AdrianC
    • By AdrianC 13th Nov 18, 8:38 AM
    • 19,061 Posts
    • 17,465 Thanks
    AdrianC
    They should be able to provide this, its basic credit control debtor reporting of amounts outstanding in each of 0-30, 31-60 late etc. No different really from unpaid invoice reports. With larger P2P outfits like LCF you get a monthly report
    Originally posted by dont_use_vistaprint
    They can provide it. It's just that different platforms use different criteria.
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