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Post by aroominyork on Aug 14, 2019 19:43:53 GMT
I am getting out of FC and am selling all possible loan parts. I have had some queued to sell for a month or two but cannot see whether any other loans parts have subsequently become available to sell. I realise I can't sell any 'new' loan parts until the currently queued ones sell (or I cancel the sale) but is that information available somewhere?
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Stonk
Stonking
Posts: 735 
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Post by Stonk on Aug 14, 2019 20:20:06 GMT
They changed the way it works, I think. It used to be that the loan parts for sale were selected when you made your request. Now, you select an amount of money, and loan parts are chosen when you reach the front of the queue to meet that amount. Or so I understand it ...
If your existing sale request was for a reaonable proportion of your portfolio, then think carefully before cancelling it. On current trends, you would set yourself back a very long way -- much longer than the month or two you have currently spent waiting -- and you might find that you won't be able to sell appreciable more anyway.
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Aug 15, 2019 8:16:27 GMT
They changed the way it works, I think. It used to be that the loan parts for sale were selected when you made your request. Now, you select an amount of money, and loan parts are chosen when you reach the front of the queue to meet that amount. Or so I understand it ...
If your existing sale request was for a reaonable proportion of your portfolio, then think carefully before cancelling it. On current trends, you would set yourself back a very long way -- much longer than the month or two you have currently spent waiting -- and you might find that you won't be able to sell appreciable more anyway.
The only way "extra" parts will become available to sell is if some stop being late, in processing or bad debt. But if any do go that way I think that over the same timescale you will get others going late/bad at the same or a higher rate. the other thing you will get is some money accumulating in your "pot" from interest and principal repayments during this period, unless you turn auto reinvestment off.
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criston
Member of DD Central
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Post by criston on Aug 17, 2019 14:18:45 GMT
I am getting out of FC and am selling all possible loan parts. I have had some queued to sell for a month or two but cannot see whether any other loans parts have subsequently become available to sell. I realise I can't sell any 'new' loan parts until the currently queued ones sell (or I cancel the sale) but is that information available somewhere? There is a way, but it is laborious, if you have a lot of loans. Click on Portfolio. Add up all your loans that say 'live' but don't include any 'live' loans that say 'Risk Band Removed' or those that have just 1 payment left. Compare the total with the figure you have showing on your sell page. I presume you are aware of the following thread. p2pindependentforum.com/thread/14673/selling-loans-frame-updated-dailyIf you are not sure of the day you initiated your sale, give FC a ring & they will advise you. Let us know your date & I will add you to the list. As you have been advised on this thread, avoid cancelling & reselling; you could be waiting 8 months if the trend continues.
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