ashtondav
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Post by ashtondav on Sept 23, 2019 7:15:42 GMT
...seen on another forum
Hmmm, lending dosh to a foreign student.
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r00lish67
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Post by r00lish67 on Sept 23, 2019 7:36:53 GMT
...seen on another forum Hmmm, lending dosh to a foreign student. I'm sure there are plenty of instances of questionable loans, but ultimately unlike FC's mystery ride we have RS's stats right here , updated on a monthly basis, so we can see as and when there is a significant downturn. I'm not sure how many people bother to look at them though. edit: not trying to imply that you don't, ashton..
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ashtondav
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Post by ashtondav on Sept 23, 2019 9:15:42 GMT
FC - wouldn’t have the cojones  |
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r00lish67
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Post by r00lish67 on Sept 23, 2019 9:25:49 GMT
FC - wouldn’t have the cojones I hear it's very quick to get invested though, no-one complaining about that here 
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benaj
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Post by benaj on Sept 23, 2019 13:09:39 GMT
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corto
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one-syllabistic
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Post by corto on Sept 23, 2019 13:13:03 GMT
What's the point?
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jlend
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Post by jlend on Sept 23, 2019 13:32:51 GMT
It is important to remember that is the criteria for borrowing via the Ratesetter website. Ratesetter have lots of other channels they lend via, e.g. mobile phones, car dealers etc. There is a set of criteria for each channel which is not always the same as this. For example the age via giffgaff says 18+ www.giffgaff.com/mobile-phones/apple
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robski
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Post by robski on Sept 23, 2019 15:10:29 GMT
It is important to remember that is the criteria for borrowing via the Ratesetter website. Ratesetter have lots of other channels they lend via, e.g. mobile phones, car dealers etc. There is a set of criteria for each channel which is not always the same as this. For example the age via giffgaff says 18+ www.giffgaff.com/mobile-phones/appleBut surely its all about relativity. I mean bar outright deliberate fraud the value of those loans is negligable. We have no idea how much the original loan was for, how much was repaid etc I know of a UK citizen who skipped the country leaving £K10s of debt behind. I never heard if she was caught in the end. How many UK people take out a loan and then another etc trying to avoid going bankrupt. I think there are things to worry about in P2P, and RS specifically, attempting to avoid any lending whatsoever that may go to someone who isnt going to repay, surely thats the holy grail of lending, no one has yet found a way to do so, and noone is ever likely to IMO. We know RS have debt sales, I suspect things like this end up being sold off at £x in the £ and as such a loss is felt, but if thats within an acceptable margin its just a natural consequence of unsecured lending. The question is, is the additional return eliminated by the risk or not. That can only be calculated at the end of the investment, until that point it can only be projected.
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jlend
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Post by jlend on Sept 23, 2019 15:14:23 GMT
It is important to remember that is the criteria for borrowing via the Ratesetter website. Ratesetter have lots of other channels they lend via, e.g. mobile phones, car dealers etc. There is a set of criteria for each channel which is not always the same as this. For example the age via giffgaff says 18+ www.giffgaff.com/mobile-phones/appleBut surely its all about relativity. I mean bar outright deliberate fraud the value of those loans is negligable. We have no idea how much the original loan was for, how much was repaid etc I know of a UK citizen who skipped the country leaving £K10s of debt behind. I never heard if she was caught in the end. How many UK people take out a loan and then another etc trying to avoid going bankrupt. I think there are things to worry about in P2P, and RS specifically, attempting to avoid any lending whatsoever that may go to someone who isnt going to repay, surely thats the holy grail of lending, no one has yet found a way to do so, and noone is ever likely to IMO. We know RS have debt sales, I suspect things like this end up being sold off at £x in the £ and as such a loss is felt, but if thats within an acceptable margin its just a natural consequence of unsecured lending. The question is, is the additional return eliminated by the risk or not. That can only be calculated at the end of the investment, until that point it can only be projected. Was simply pointing out the different loan criteria, nothing else.
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benaj
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Post by benaj on Sept 23, 2019 17:15:22 GMT
But surely its all about relativity. I mean bar outright deliberate fraud the value of those loans is negligable. We have no idea how much the original loan was for, how much was repaid etc I know of a UK citizen who skipped the country leaving £K10s of debt behind. I never heard if she was caught in the end. How many UK people take out a loan and then another etc trying to avoid going bankrupt. I think there are things to worry about in P2P, and RS specifically, attempting to avoid any lending whatsoever that may go to someone who isnt going to repay, surely thats the holy grail of lending, no one has yet found a way to do so, and noone is ever likely to IMO. We know RS have debt sales, I suspect things like this end up being sold off at £x in the £ and as such a loss is felt, but if thats within an acceptable margin its just a natural consequence of unsecured lending. The question is, is the additional return eliminated by the risk or not. That can only be calculated at the end of the investment, until that point it can only be projected. For the RS Family finance, there are extra criteria: • No pay-day loans within the last 6-months • No unsatisfied CCJs and no satisfied CCJs of more than £100 in the last three years • No individual voluntary arrangements, debt recovery orders, or bankruptcies • No current arrears of more than 3-months • The assets in the case must include a UK property and be sufficient to repay the loan(s)• Expected net assets awarded to your client must be at least 3x the value of the loan
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