p2ploser
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Post by p2ploser on Mar 14, 2019 18:21:07 GMT
Looks like the person that does all fundingsecure’s loan updates must be off this week. With hundreds of loans overdue and some years overdue there have been 5 loan updates this week. Is fundingsecure sunk?
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james21
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Post by james21 on Mar 14, 2019 19:29:19 GMT
Looks like the person that does all fundingsecure’s loan updates must be off this week. With hundreds of loans overdue and some years overdue there have been 5 loan updates this week. Is fundingsecure sunk? Take my advice, pick a loan and make a formal complaint
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james21
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Post by james21 on Mar 14, 2019 19:31:02 GMT
or email one of the new owners; raj@fundingsecure.com
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p2ploser
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Post by p2ploser on Mar 14, 2019 20:25:35 GMT
Looks like the person that does all fundingsecure’s loan updates must be off this week. With hundreds of loans overdue and some years overdue there have been 5 loan updates this week. Is fundingsecure sunk? Take my advice, pick a loan and make a formal complaint Done that. Their responses are generic and nonsensical, bit like most of their loan updates. That said, at least when they were providing updates you knew there was someone there!
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Post by df on Mar 14, 2019 21:50:30 GMT
Take my advice, pick a loan and make a formal complaint Done that. Their responses are generic and nonsensical, bit like most of their loan updates. That said, at least when they were providing updates you knew there was someone there! I prefer adjusting my investment strategy to spending time on engaging in unfruitful communications.
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number5
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Post by number5 on Mar 15, 2019 8:25:59 GMT
Done that. Their responses are generic and nonsensical, bit like most of their loan updates. That said, at least when they were providing updates you knew there was someone there! I prefer adjusting my investment strategy to spending time on engaging in unfruitful communications. I agree...I have tried so many times to get an update on a loan where the last update was it would be repaid in Jan and just the same old useless replies! How have you adjusted your strategy? If I remember correctly we had a similar one and I am adjusting mine too
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Post by df on Mar 15, 2019 10:19:23 GMT
I prefer adjusting my investment strategy to spending time on engaging in unfruitful communications. I agree...I have tried so many times to get an update on a loan where the last update was it would be repaid in Jan and just the same old useless replies! How have you adjusted your strategy? If I remember correctly we had a similar one and I am adjusting mine too I've sold all property loans that I could and stopped investing in any new. Keep renewing pawn and investing in new (there was one recently). My loan book got much smaller in the past few months. Mainly I'm waiting for recoveries and pawn repayments. Basically I'm slowly withdrawing from FS. Released funds find new homes in better places like LW, RS, UB, Welendus.
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picnicman
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Post by picnicman on Mar 15, 2019 10:35:57 GMT
I agree...I have tried so many times to get an update on a loan where the last update was it would be repaid in Jan and just the same old useless replies! How have you adjusted your strategy? If I remember correctly we had a similar one and I am adjusting mine too I've sold all property loans that I could and stopped investing in any new. Keep renewing pawn and investing in new (there was one recently). My loan book got much smaller in the past few months. Mainly I'm waiting for recoveries and pawn repayments. Basically I'm slowly withdrawing from FS. Released funds find new homes in better places like LW, RS, UB, Welendus. Yep except I am not even going for/renewing pawn loans - I have 3 such loans overdue (one defaulted) and no updates! Cheers P
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number5
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Post by number5 on Mar 15, 2019 11:05:31 GMT
I've sold all property loans that I could and stopped investing in any new. Keep renewing pawn and investing in new (there was one recently). My loan book got much smaller in the past few months. Mainly I'm waiting for recoveries and pawn repayments. Basically I'm slowly withdrawing from FS. Released funds find new homes in better places like LW, RS, UB, Welendus. Yep except I am not even going for/renewing pawn loans - I have 3 such loans overdue (one defaulted) and no updates! Cheers P I generally prefer to only use one platform...previously FC. But I have a lot of cash drag now on FS as I am not investing in loans I would previously have and there are not many loans I would invest in coming up now. I am looking for a new home for my funds, I have read quite a few good things about Welendus but....you don't earn interest when loan is up for sale? You can't sell part of a holding, must sell the whole lot? Cash drag? Read good stuff about AC too but rates seem to be very low....don't know much about LW, RS, UB etc
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cwah
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Post by cwah on Mar 15, 2019 12:25:33 GMT
Yep except I am not even going for/renewing pawn loans - I have 3 such loans overdue (one defaulted) and no updates! Cheers P I generally prefer to only use one platform...previously FC. But I have a lot of cash drag now on FS as I am not investing in loans I would previously have and there are not many loans I would invest in coming up now. I am looking for a new home for my funds, I have read quite a few good things about Welendus but....you don't earn interest when loan is up for sale? You can't sell part of a holding, must sell the whole lot? Cash drag? Read good stuff about AC too but rates seem to be very low....don't know much about LW, RS, UB etc Are these other platform better because newer? May end up with cash drag as well
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Post by df on Mar 15, 2019 14:07:42 GMT
Yep except I am not even going for/renewing pawn loans - I have 3 such loans overdue (one defaulted) and no updates! Cheers P I generally prefer to only use one platform...previously FC. But I have a lot of cash drag now on FS as I am not investing in loans I would previously have and there are not many loans I would invest in coming up now. I am looking for a new home for my funds, I have read quite a few good things about Welendus but....you don't earn interest when loan is up for sale? You can't sell part of a holding, must sell the whole lot? Cash drag? Read good stuff about AC too but rates seem to be very low....don't know much about LW, RS, UB etc Welendus. You can see a lot of reports about cash drag. For some reason my investments were not affected as bad as many others. I think it just comes and goes depending on supply/demand balance. I've never sold any loans, but seen reports on W board that selling is quick. In my understanding you don't loose interest if you put your investment for sale, but I might be wrong. This is true, you can't sell part of your investment, it has to be the whole lot. Saying that, minimum investment is £100. So for example if you want to invest 1k you can split it into 10 separate investments. When it comes to selling, you don't need to sell 1k, only £100+whatever it earned you up to date. AC's access accounts' rates are low, but in return you can access your money when you need it without any fees.
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number5
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Post by number5 on Mar 15, 2019 15:08:52 GMT
I generally prefer to only use one platform...previously FC. But I have a lot of cash drag now on FS as I am not investing in loans I would previously have and there are not many loans I would invest in coming up now. I am looking for a new home for my funds, I have read quite a few good things about Welendus but....you don't earn interest when loan is up for sale? You can't sell part of a holding, must sell the whole lot? Cash drag? Read good stuff about AC too but rates seem to be very low....don't know much about LW, RS, UB etc Welendus. You can see a lot of reports about cash drag. For some reason my investments were not affected as bad as many others. I think it just comes and goes depending on supply/demand balance. I've never sold any loans, but seen reports on W board that selling is quick. In my understanding you don't loose interest if you put your investment for sale, but I might be wrong. This is true, you can't sell part of your investment, it has to be the whole lot. Saying that, minimum investment is £100. So for example if you want to invest 1k you can split it into 10 separate investments. When it comes to selling, you don't need to sell 1k, only £100+whatever it earned you up to date. AC's access accounts' rates are low, but in return you can access your money when you need it without any fees. What sort of % rates are you getting in Welendus?
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michaelc
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Post by michaelc on Mar 15, 2019 16:15:02 GMT
I'm now well into 5 figures on W but I couldn't say I'm 100% comfortable - not that I'd be 100% comfortable on any platform....
One issue is the cash drag as has been discussed but at least that is crystal clear what one's position is.
What I've never liked is the opacity. Its tricky in the area of personal loans because I can understand for small loans the platform doesn't want to give out their details. However, I do think they could try harder to make it clearer and I have my suspicion that it is in W's interest to keep the black box opaque.
IMO, if someone else pops up with a similar model but giving lenders better p2p information they'll eat W's lunch.
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number5
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Post by number5 on Mar 15, 2019 16:36:49 GMT
I'm now well into 5 figures on W but I couldn't say I'm 100% comfortable - not that I'd be 100% comfortable on any platform.... One issue is the cash drag as has been discussed but at least that is crystal clear what one's position is. What I've never liked is the opacity. Its tricky in the area of personal loans because I can understand for small loans the platform doesn't want to give out their details. However, I do think they could try harder to make it clearer and I have my suspicion that it is in W's interest to keep the black box opaque. IMO, if someone else pops up with a similar model but giving lenders better p2p information they'll eat W's lunch. Which platform would you suggest for someone who liked the old FC model and the more liquid FS of about a year ago to take their funds?
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michaelc
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Post by michaelc on Mar 15, 2019 17:23:43 GMT
I guess we/I are straying well off topic but I'm not sure I'd be comfortable recommending a platform although I am happy to pass on my own experiences.
I'd definitely be careful about selecting one based on SM liquidity because that can change on the turn of a coin (or whatever the expression is !)
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