blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Feb 5, 2019 11:09:09 GMT
I think, bg, that the information we receive from Assetz is very good. Let's hope it continues. On FC, yes the process for unsecured loans is standard, but there are costs involved in chasing personal guarantees which the platforms can only recover if successful. Given that FC defaults from 2018 origination are increasing, I think that FC will have difficulty in resourcing collections and recoveries to maintain the old recovery rate. The defined security is a major reason for my switch to Assetz. I may be proved wrong, but that's my choice.
|
|
alibaba
Member of DD Central
Posts: 341 
Likes: 245
|
Post by alibaba on Feb 5, 2019 12:38:38 GMT
I think, bg, that the information we receive from Assetz is very good. Let's hope it continues. On FC, yes the process for unsecured loans is standard, but there are costs involved in chasing personal guarantees which the platforms can only recover if successful. Given that FC defaults from 2018 origination are increasing, I think that FC will have difficulty in resourcing collections and recoveries to maintain the old recovery rate. The defined security is a major reason for my switch to Assetz. I may be proved wrong, but that's my choice. AC have yet to post the defaults and losses for the disastrous GBBA1 and GEA accounts, when they do it will be an all new ball game, I am expecting to lose three years interest and significant capital. They may have learned from their early mistakes and I am pleased that you are having a positive experience. I have been trying to remove funds for the past nine months and I expect it to take another six to twelve months before I am out of this sorry mess. As you say everyone makes their own choices.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Feb 5, 2019 14:50:39 GMT
Sorry to hear that. No doubt we will all get to hear of those results. Nothing is safe in p2p, we are all taking risks.
|
|
markdirac
Member of DD Central
Posts: 128
Likes: 51
|
Post by markdirac on Feb 6, 2019 10:55:13 GMT
I don't vote because I once read somewhere at AC that if one votes "the wrong way" then that may invalidate one's claim to any future discretionary PF payment.
I have always assumed that this is the reason that so few % vote?
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Feb 6, 2019 11:01:02 GMT
I don't vote because I once read somewhere at AC that if one votes "the wrong way" then that may invalidate one's claim to any future discretionary PF payment. I have always assumed that this is the reason that so few % vote? Wrong on both counts. AC have said (several times) that they will always say so explicitly if voting a certain way could affect PF eligibility, within the explanation of that vote. And most people don't vote because they either are invested via the QAA/30DAA/GBBA/GEIA or can't be bothered.
|
|
|
|
Post by madmitch on Feb 6, 2019 20:06:18 GMT
"...I have been trying to remove funds for the past nine months and I expect it to take another six to twelve months before I am out of this sorry mess...." You'll be lucky. I'm thinking more along the lines of a codacil for my will!
|
|
