p2pstephan
Member of DD Central
Posts: 91
Likes: 79
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Post by p2pstephan on Apr 1, 2020 15:42:14 GMT
Me2 "Now it works for me. Back onto the selling queue Day 0" Date requested: 01/04/2020 (April fools day) (Orig Date requested: 14/06/2019)
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Apr 1, 2020 15:53:38 GMT
I've just had the 120 day email. I've relisted again today instantly the maximum amount I could relist for sale. As I have many many loans now in default plus 30+ new ones with cancelled direct debits in the last 2 days alone, I can only list some of what i have.
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richv
Posts: 42
Likes: 11
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Post by richv on Apr 1, 2020 16:19:35 GMT
I've just had the 120 day email. I've relisted again today instantly the maximum amount I could relist for sale. As I have many many loans now in default plus 30+ new ones with cancelled direct debits in the last 2 days alone, I can only list some of what i have. It will be interesting to see, when a sale goes though, if you get 1% of the new amount listed or 1% of the original amount listed 4 months ago, as FC toiled one of the commentators on here they would a few weeks bake
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supyk
Posts: 25
Likes: 22
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Post by supyk on Apr 1, 2020 16:21:49 GMT
Works for me now. Relisted the maximum amount available for sale (about 13% of portfolio cannot be sold).
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Post by rainydaze on Apr 1, 2020 16:43:00 GMT
Works for me now. Relisted the maximum amount available for sale (about 13% of portfolio cannot be sold). Same here. Ive now entered an amount and hit the sell button again. Hopefully something does actually sell. Great time to invest
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Post by dogeared on Apr 1, 2020 16:49:47 GMT
I've just had the 120 day email. I've relisted again today instantly the maximum amount I could relist for sale. As I have many many loans now in default plus 30+ new ones with cancelled direct debits in the last 2 days alone, I can only list some of what i have. It will be interesting to see, when a sale goes though, if you get 1% of the new amount listed or 1% of the original amount listed 4 months ago, as FC toiled one of the commentators on here they would a few weeks bake Indeed, the lady I spoke to went into great detail on how the system will recognise the original amount you requested, it won't come as a shock however if she's wrong.
I relisted now too.
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Post by natasha1 on Apr 1, 2020 19:08:03 GMT
With all the DDs being cancelled and all the defaults to come, some of us will end up losing money on FC...
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Post by mrsnicb on Apr 1, 2020 19:28:26 GMT
Hi, sorry for not keeping up with this, the % calc was too onerous! I have relisted both loans for sale tonight 01/04/20 (20:15)
Original loan selling date 17/06/19
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Post by bernythedolt on Apr 1, 2020 20:56:03 GMT
Most of us, I think, assumed the 120 day sales window began on 2/12/19 (when the selling tool started) and ended 120 days later on 31/3/20.
FC now say this isn't so. Apparently each lender has their own unique 120 day period, starting from when they last listed for sale. eg. if your sale was relisted on 10/12/19, your 120 days isn't over until 8/4/20, so you won't get your email inviting you to relist until that date.
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Post by Ace on Apr 2, 2020 0:28:33 GMT
It looks like the cost of selling loans on FC may well increase link
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Post by rweb on Apr 2, 2020 10:17:26 GMT
It looks like the cost of selling loans on FC may well increase linkI can quite understand the rationale behind this. It might also be helpful to tip the balance between those wanting to exit and those deciding to retain their investments, not wanting an increased haircut. Ultimately, stability is in everyone's interest.
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Post by tungsten on Apr 2, 2020 15:22:32 GMT
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Apr 2, 2020 18:05:45 GMT
I'm beginning to wonder if we will ever see a loan sale again. Nothing seems to be occurring (apart from more defaults plus constant direct debit cancellations).
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blender
Member of DD Central
Posts: 5,719
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Post by blender on Apr 2, 2020 18:47:16 GMT
After months with no sellable loans, today I noticed that one previously late loan was live and had a risk band, and I could put up the sum of £55 for sale. Then I noticed that it is due to pay again tomorrow, or go processing - it's a cruel world. But for 120 days I will be looking to sell £55 of loans. I'm back in the game!
Edit 4 Apr - yes it failed to pay yesterday and is processing.
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Post by jagman on Apr 4, 2020 14:08:56 GMT
When I relisted my two account sales after 120 days, I was only allowed to sell the portion of loans that were still live. This is a lot less than the original amounts requested, because of repayments since July for one account and Sep for the other, plus sales since Dec. Therefore, the 1% I will get in each round will be about 50% less than previously. As this situation will repeat every 120 days, it will take increasingly longer to sell my loans. Someone above was told by FC that they would honour the original loan request amount, when re-selling after 120 days, but this is obviously rubbish. We are never going to get out of this!
Sorry to be slow to report my sales:
Loan requested 14/7/19 sold 3/3/20 and 12/3/20. Nothing since Loan requested 23/9/19 sold 5/3/20 and 15/3/20. Nothing since Loan requested 29/2/20 sold 2/3/20, 10/3/20 and 24/3/20. Nothing since. This loan has been re-listed 4 times. Originally requested 16/6/19
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