Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Apr 9, 2019 16:01:35 GMT
Just a quick poll.
Overall have you made a loss within your investment in any one platform with compleated loans Yes/No
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pom
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Post by pom on Apr 9, 2019 16:04:38 GMT
No a in completed
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Post by Ace on Apr 9, 2019 16:25:35 GMT
Not yet, but I'm expecting one on Lendy.
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adrianc
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Post by adrianc on Apr 9, 2019 16:56:39 GMT
Lending Crowd is closest for me - no, but only because of their very generous introductory offer.
As far as Lendy goes - I'd need to take a 43% haircut averaged across my remaining loans to be down to break even.
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Monetus
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Post by Monetus on Apr 9, 2019 16:58:34 GMT
Yes for Lending Crowd. Almost forgot about that little experiment Others TBC.
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benaj
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Post by benaj on Apr 9, 2019 17:24:36 GMT
Not yet. I have less irrevocable in 18/19 compared to previous year, mainly because of those assets are yet to be completed or to be sold and quitted Zopa.
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r00lish67
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Post by r00lish67 on Apr 9, 2019 18:36:37 GMT
Given that nearly all self-select platform suffer from extensively long running very troubled loans that are by definition yet to complete, I'm not quite sure I see the value in this poll. By using the sole criterion of loans having completed many lenders will not yet have made an overall loss but are fully expecting to do so.
In my case, I have a flawless track record on completed Ablrate loans. I do however hold the Container loan, which defaulted nearly 3 years ago and has yet to return a penny since. Have I made an overall loss on completed loans? No. Am I happy with that situation or somehow assured of eventual profit? No, not really. Not until my money comes back.
I also haven't lost a penny with Collateral completed loans either. T'rific!
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Apr 9, 2019 19:11:39 GMT
Yes for Lending Crowd. Almost forgot about that little experiment Others TBC. Interesting can you give us roughly how much invested and diversity ? When taken over All your P2P what was the reduction in profit it caused. Since you are doing a sterling job I hope the poll in the future will show little or no losses once Collateral is settled
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rick24
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Post by rick24 on Apr 9, 2019 19:12:52 GMT
I've made a loss on one platform but I am diversified across 9 platforms, so overall I am up. However, the losses cut the gain in half more or less.
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Monetus
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Post by Monetus on Apr 9, 2019 19:44:54 GMT
Since you are doing a sterling job I hope the poll in the future will show little or no losses once Collateral is settled Sadly whether I'm doing a "sterling job" or not is irrelevant and will have little to no impact on the final result of the Collateral administration. Instead that's going to come down to the quality of the assets, valuations and borrowers, as well as actions taken by the platform itself prior to its demise.
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Post by df on Apr 9, 2019 19:55:40 GMT
I think FS is the only platform I have some crystallised losses with. There are few of "done and dusted, but some sort of recovery strategies are still in place" (e.g. most FC's defaults, SS's Welsh Castle etc). The amount of loss on majority of non-performing loans is unknown.
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baldpate
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Post by baldpate on Apr 9, 2019 20:05:03 GMT
Not yet, but only been P2P lending for 5 years, so too soon to tell - ask me again in 2 years time (or whenever the Collateral Admin rumbles to a close, when the answer will almost certainly be yes).
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 9, 2019 20:12:21 GMT
Anyone who joined ReBs in 2015, and diversified. There were a shocking number of defaults the following year, and not much recovery.
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blender
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Post by blender on Apr 11, 2019 11:15:25 GMT
I re-started my FC account in early 2018, balanced at 7% forecast, with around 400 loans. The tax report for 2018-9 is:
Tax Statement – April 6 2018 - April 5 2019
The information provided assumes that you are a UK tax resident individual and wish to take advantage of the new bad debt relief available on loans defaulted since 6 April 2015.
Investment Income Total interest paid by borrower: £1,537.89 Funding Circle servicing fee: -£136.82 Income payments made to you: £1,401.07 Bad Debt Principal Defaulted and not recovered in period: -£1,216.18 Discounts on acquisitions of above bad debts on secondary market: £0.00 Total eligible bad debt in period: -£1,216.18
£185 for me, less tax. Am I waiting around to see if they recover anything in future years? - You guessed right!
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Apr 14, 2019 1:53:45 GMT
I re-started my FC account in early 2018, balanced at 7% forecast, with around 400 loans. The tax report for 2018-9 is:
Tax Statement – April 6 2018 - April 5 2019
The information provided assumes that you are a UK tax resident individual and wish to take advantage of the new bad debt relief available on loans defaulted since 6 April 2015.
Investment Income Total interest paid by borrower: £1,537.89 Funding Circle servicing fee: -£136.82 Income payments made to you: £1,401.07 Bad Debt Principal Defaulted and not recovered in period: -£1,216.18 Discounts on acquisitions of above bad debts on secondary market: £0.00 Total eligible bad debt in period: -£1,216.18
£185 for me, less tax. Am I waiting around to see if they recover anything in future years? - You guessed right!
The poll was for completed investments not currently defaulted loans. Even still your return is still positive and in line with a lot of banks. Were you £ 20000 in stock market it would be down 10-15%
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