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Post by Butch Cassidy on Dec 16, 2016 16:00:15 GMT
/mod hat off .. This strategy needs a rethink .. in the last couple of weeks I have seen 25831 go down the tubes after 1 payment (of 60), and 24435 go down after 1 (late) payment out of 6. Given the origination rate of Ds and Es (which these were) that's pretty grim statistics. I think 'see after 6 days' (or never buy at all) might be a better plan. Only for the greedy bot owners who have hoovered up virtually every part of each & every D & E since the rate hike & have now been left holding the brown stuff, at least with a couple of them - the fact they wanted 2%+ premium on the SM for these toxic timebombs hopefully means that they failed to sell much of their holdings & are getting some well deserved pain - HAPPY XMAS.
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Steerpike
Member of DD Central
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Post by Steerpike on Dec 16, 2016 16:07:38 GMT
Unfortunately I think that most of the serious BOTTIES churn for .4% or .5% within a day or so and it is the poor hard working British families that are only just about managing that pick up the crumbs only to find that they have been sold a poop.
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Post by GSV3MIaC on Dec 17, 2016 8:38:11 GMT
Yep, I doubt many bot buyers held them for even 6 days. I buy diversely, and hope(d) to hold for a month or three, so my losses are in 2 figures on the D and £350 or so on the small E, which I kept all of since the borrower was (still is!) FCA approved.
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Post by GSV3MIaC on Dec 17, 2016 14:10:29 GMT
AKA 'Skynet is watching you'. 8>.
Actually it's not the bots, or even the drones, it's the Knife Missiles** you have to watch out for ..
(** Iain M Banks reference)
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blender
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Post by blender on Dec 17, 2016 16:17:59 GMT
The bots are welcome. The early failures are troubling. There is probably a firm of ex-solicitors which advises clients on how to get past the FC computerised DD and avoid the need to make more than one or two repayments.
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r00lish67
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Post by r00lish67 on Dec 23, 2016 15:03:01 GMT
/mod hat off .. This strategy needs a rethink .. in the last couple of weeks I have seen 25831 go down the tubes after 1 payment (of 60), and 24435 go down after 1 (late) payment out of 6. Given the origination rate of Ds and Es (which these were) that's pretty grim statistics. I think 'sell after 6 days' (or never buy at all) might be a better plan. 27521 (D) has just joined this illustrious crowd after 1 repayment (well, RBR'd with a large CCJ anyway). Yes, 6 days sounds about right!
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r00lish67
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Post by r00lish67 on Mar 1, 2017 18:42:36 GMT
After some gentle prodding, 27521 now un-RBR'ed following 3 successful payments.
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fasty
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Post by fasty on Mar 1, 2017 18:56:58 GMT
After some gentle prodding, 27521 now un-RBR'ed following 3 successful payments. I could be keeping that one for as long as... 25 whole days.
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r00lish67
Member of DD Central
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Post by r00lish67 on Mar 1, 2017 19:12:27 GMT
Braver than I, I kept it for about 25 minutes  |
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fasty
Member of DD Central
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Post by fasty on Mar 1, 2017 19:20:24 GMT
Braver than I, I kept it for about 25 minutes Yes, someone was even flogging it off at a discount. I suppose it's quite a low rate for a "D" these days... I've got it flagged for extermination before next payment but it might go sooner if my bidding cash pool evaporates.
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