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Post by rookyone on Aug 29, 2019 10:07:02 GMT
Still waiting, 100 and not out, pity this isn't cricket... It is actually 150 days, this is my 2nd cycle for those loans that did no sell first time round (funding circle processing issues as discussed earlier in this thread), so effectively 5 months and counting...
Will do my maths later, but early indications are I am likely to break even or make a small profit once recovery drip feeds cash back over the next few years. All in all a pretty bad experience, outcome and waste of 2 years of my time and effort...
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Post by brittal79 on Aug 30, 2019 6:49:12 GMT
I launched a sale on the 8th July obviously not sold yet I'm guessing November time. From the list on the front page this seems to be one of your missing dates if you want to include it.
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Post by Ace on Aug 30, 2019 7:29:27 GMT
I launched a sale on the 8th July obviously not sold yet I'm guessing November time. From the list on the front page this seems to be one of your missing dates if you want to include it. The current expansion rate is about to rise to over 1.7. If that's maintained it would put your sale somewhere around mid January 2020.
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Post by brittal79 on Aug 30, 2019 7:49:10 GMT
I launched a sale on the 8th July obviously not sold yet I'm guessing November time. From the list on the front page this seems to be one of your missing dates if you want to include it. The current expansion rate is about to rise to over 1.7. If that's maintained it would put your sale somewhere around mid January 2020. Luckily I'm not in a rush for it but I do feel sorry for people who invested but perhaps need to access for house deposit etc...
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Post by Mr Smith on Aug 30, 2019 8:26:20 GMT
The current expansion rate is about to rise to over 1.7. If that's maintained it would put your sale somewhere around mid January 2020. Luckily I'm not in a rush for it but I do feel sorry for people who invested but perhaps need to access for house deposit etc... Look on the bright side, when they get their money out in 5 years time house prices will be much lower
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Post by Mr Smith on Aug 30, 2019 8:27:23 GMT
I launched a sale on the 8th July obviously not sold yet I'm guessing November time. From the list on the front page this seems to be one of your missing dates if you want to include it. The current expansion rate is about to rise to over 1.7. If that's maintained it would put your sale somewhere around mid January 2020. My worry is that it's about to rise to over ∞
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Stonk
Stonking
Posts: 735
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Post by Stonk on Aug 30, 2019 9:29:49 GMT
My worry is that it's about to rise to over ∞
It certainly does seem to have gone very steep in the last week or so. Maybe they just completely stopped selling after the 93-day and 94-day sales on 21 and 22 August. Then the claim of a 93-day average from 21-27 August might actually be true. I'm not sure how they'll report the average next week, though: zero divided by zero is tricky.
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Post by dazp70 on Aug 30, 2019 9:56:53 GMT
It may be that the Trustpilot reviews are putting investors off our portfolio low grade debt. It's difficult to see how there is much demand for the loans unless the returns improve.
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djay
Member of DD Central
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Post by djay on Aug 30, 2019 10:01:38 GMT
Just noticed the date that a sale was requested is now displayed on the sell page. There is also a caveat on the FC blog page saying if you join the queue now it is likely to be longer than the 93 day average they state for sales completed last week. I don't recall that being on the blog so explicitly before?
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blender
Member of DD Central
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Post by blender on Aug 30, 2019 10:17:42 GMT
Are we certain that the FC IT hasn't jumped the queue? I believe that FCIT had whole loans, which could not go through the secondary market - unless they chopped the loans into parts first. More likely the FCIT loans would go institutional lenders, as pre-loved whole loans. But whatever the route, it will take lender funds which would have been used in other ways, and I would not be at all surprised if there is some merging effect causing extra delay to SM sales, even if they are separate queues.
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Post by casper on Aug 30, 2019 10:19:23 GMT
Hi, I've a sell request (normal account and ISA) on the 25th of May, you have nothing else on the list for that day..
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criston
Member of DD Central
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Post by criston on Aug 30, 2019 11:01:20 GMT
11 days now, without an answer to my email question, asking FC to confirm that the 'SME Credit Realisation Fund Limited' will not be jumping the queue.
It's 80 days since the 11/6/19 vote to approve the winding down.
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ashtondav
Member of DD Central
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Post by ashtondav on Aug 30, 2019 11:12:48 GMT
Someone else posted that retail lenders will not be getting the IT loans. They will all be going to institutions presumably at a nice big discount. If retail lenders could sell st a discount the sales process would speed up.
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Post by geosaddler on Aug 30, 2019 11:13:41 GMT
Finally just had email confirmation that mine have sold. Looks to be around 90% sold so not too bad.
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Post by rookyone on Aug 30, 2019 11:15:13 GMT
Paid out now on day 101.
Stats after 2 withdrawal cycles.
Total withdrawal days: 151 (1st cycle 50 days, 2nd cycle 101 days)
% of original investment now returned 97%
After adding bad debt, late and live loans my investment grows to a maximum of 108% (approximately 2 years growth).
However, looking closer at the remaining loans...
8% Bad debt
2% Late
1% Live
So I need a further 3% return from my bad debt, late and live loans to break even, thereafter I will be into profit. However, adjusting the figures to take into account inflation for the investment period, just breaking even would be nice but probably unlikely.
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