keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Jul 1, 2020 8:50:16 GMT
My June recoveries were the highest this year and 2&1/2 times the previous best, I'm hoping they can keep it up.
OF course there is always a flip side recoveries were 1/7 ( 14% approx. ) of defaults for the month, and my total recoveries over 18 months since first loan went bad are a measly 2.94% and nothing at all recovered for 6 of my first 9 to go bad ( all at least 10 months since default or whatever )
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Post by shanghaiscouse on Jul 1, 2020 16:04:36 GMT
congrats. on 47k of bad debt, I have had £1,000 of recoveries in six months. So it really depends on which crappy loans they allocated to you.
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Post by tredod on Jul 1, 2020 17:23:19 GMT
It can take a long time for recoveries to be received, as the saga of 4974, where the outstanding capital and interest were paid in full today, illustrates.
This £20,000 loan was defaulted in October 2016. In May 2017 FC said "We have entered into a repayment plan with the loan guarantor for monthly payments of the full contractual amount". No payments were made, and by July 2017 FC were hoping repayments would be at 50% of the contractual rate. This didn't happen either, and although there was continued contact with the guarantor eventually FC lost patience and obtained Judgement in Default in April this year, which resulted in today's repayment.
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rogerthat
Member of DD Central
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Post by rogerthat on Jul 1, 2020 18:07:52 GMT
It can take a long time for recoveries to be received, as the saga of 4974, where the outstanding capital and interest were paid in full today, illustrates. This £20,000 loan was defaulted in October 2016. In May 2017 FC said "We have entered into a repayment plan with the loan guarantor for monthly payments of the full contractual amount". No payments were made, and by July 2017 FC were hoping repayments would be at 50% of the contractual rate. This didn't happen either, and although there was continued contact with the guarantor eventually FC lost patience and obtained Judgement in Default in April this year, which resulted in today's repayment. This was put on the Q & A's of Loan 4974 10 Feb 2014 17:54 - Please note: This company shares a common director and shareholding with auction I.D 3615, 4173, and 4974. The director will be providing a personal guarantee for all loans. Thanks, FC. [ But I received the two statements below (on the same date 18/06 ) which suggests that the borrower was already paying installments..I believe the two below were to the same borrower also..yet 4975 is not mentioned above Expansion Loan (4974) — defaulted, 18 Jun 2020 This loan has now been repaid in full. As such, we consider the matter closed. We thank investors for their patience. Working Capital Loan (4975) — defaulted, 18 Jun 2020 This loan has now been repaid in full. As such, we consider the matter closed. We thank investors for their patience.
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Post by angel19 on Jul 1, 2020 20:55:42 GMT
To be fair, in the Q&A for 4974 FC said the loan shared a common director with 3615, 4173 and 4975. So all good now.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Jul 10, 2020 17:42:15 GMT
I just got a sizeable recovery on a loan that defaulted in October 2014.
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blender
Member of DD Central
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Post by blender on Sept 18, 2020 19:23:39 GMT
I just received a £63 recovery including back interest!
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Post by carpecyprinidae on Sept 19, 2020 17:52:22 GMT
20151 Working Capital Loan? I had £20 in this, one of only 2 loan parts I still hold. I received 26 pence of capital and £4.23 of interest.
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Post by df on Sept 19, 2020 18:43:15 GMT
It's been nearly two years since I've sold everything I could and turned re-investments off. Recovery payments keep coming in. At the time my 'annualised return' was 1.9% - now it's 2.4%. It's a success story to compare with my funds' performance with some other p2p platforms  |
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travolta
Member of DD Central
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Post by travolta on Sept 20, 2020 10:04:39 GMT
It's been nearly two years since I've sold everything I could and turned re-investments off. Recovery payments keep coming in. At the time my 'annualised return' was 1.9% - now it's 2.4%. It's a success story to compare with my funds' performance with some other p2p platforms Me too.
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adrian77
Member of DD Central
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Post by adrian77 on Sept 24, 2020 16:43:41 GMT
Just received their newsletter - nothing to worry about as
Number of borrowers asking for payment plans is now below pre-Covid levels.
irrelevant - it is the total amount that matters
More than 90% of borrowers are now making their monthly payments.
only a 10% default rate! - again it is the total amount that matters
Based on our model, we expect returns to remain positive.
And Jo Swinson expected to be PM
what's the problem?
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 3,889
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Post by keitha on Oct 2, 2020 14:50:32 GMT
Flip side of that coin
I'm average Joe investor
I have now got 213 Live loans , and 106 Running late, the monetary proportion pretty much correlate.
most of the lates are at least 3 months in arrears.
More worrying is the number of defaults now at 10 months or more with no update ( and no repayment ). Seems to be they don't give a fig for the retailinvestors just interested in the BBLS and CBILS
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Post by shanghaiscouse on Oct 3, 2020 11:34:51 GMT
Well, today I got the first juicy bad debt recovery, £1,200. So now my total recoveries stand at around £5,600 out of £48,000 bad debts. These bad debts were mainly booked over a year ago, and are all of IPO vintage loans, so I am glad to see they do seem to be doing something to recover money. There seem to be 4 loans with loan parts recovered at same time so I guess this is a debt collection agency and they are posting them all to the ledger at the same time, hence they all came through on same date. My return has now shot up to 1.5%!!!
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Post by shanghaiscouse on Oct 31, 2020 22:30:38 GMT
Another decent amount today, £244.
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ashtondav
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Post by ashtondav on Nov 1, 2020 8:07:30 GMT
My statement for the year to end October shows a return of 3.9% after recoveries. Im ok with that.
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