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Post by overthehill on Oct 9, 2020 20:57:10 GMT
What is the state of the provision fund and what happens to any money in it ? Can't find any data on it ?
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Post by nesako on Oct 11, 2020 12:38:59 GMT
What is the state of the provision fund and what happens to any money in it ? Can't find any data on it ?
They have stopped reporting the state of provision fund, but most of the money in it will be used to fund the debt recovery expenses. We are past the 3 month notice period given to all borrowers which means the outstanding 30% of borrowers have either entered alternative repayment arrangements or will be going through debt recovery. If there are still any funds left there by June next year (current expected end of the process), it should be used up in the last distribution to investors covering some of the loss.
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Post by bhaviks on Nov 16, 2020 18:33:38 GMT
Stats for Sep www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £6,674,847 (~ -1.58m from last month) Total Number of borrowers = 58 (-10 from last month) Expected default rate = 6.49% of the outstanding amount Roughly 40% of loan amount outstanding. Stats for October www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £5,017,936 (~ -1.66m from last month) Total Number of borrowers = 44 (-14 from last month) Expected default rate = 6.46% of the outstanding amount Roughly 30% (-10% from last month) of loan amount outstanding. Stats for November www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £3,462,025 (~ -1.56m from last month) Total Number of borrowers = 35 (-9 from last month) Expected default rate = 15.9% of the outstanding amount Roughly 20% (-10% from last month) of loan amount outstanding. Interesting that they returned 86% of the loan amount. So probably the 6% is coming from the provision fund money.
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Post by overthehill on Nov 16, 2020 22:10:34 GMT
Stats for October www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £5,017,936 (~ -1.66m from last month) Total Number of borrowers = 44 (-14 from last month) Expected default rate = 6.46% of the outstanding amount Roughly 30% (-10% from last month) of loan amount outstanding. Stats for November www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £3,462,025 (~ -1.56m from last month) Total Number of borrowers = 35 (-9 from last month) Expected default rate = 15.9% of the outstanding amount Roughly 20% (-10% from last month) of loan amount outstanding. Interesting that they returned 86% of the loan amount. So probably the 6% is coming from the provision fund money.
If I'm understanding the stats correctly, the Expected Lifetime Bad Debt Rate for 2020 YTD is 8.39% and it looks like we've already had 6% from the provision fund so full recovery is within touching distance. Interest ? Too much...
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Post by bhaviks on Dec 4, 2020 20:14:07 GMT
Stats for October www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £5,017,936 (~ -1.66m from last month) Total Number of borrowers = 44 (-14 from last month) Expected default rate = 6.46% of the outstanding amount Roughly 30% (-10% from last month) of loan amount outstanding. Stats for November www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £3,462,025 (~ -1.56m from last month) Total Number of borrowers = 35 (-9 from last month) Expected default rate = 15.9% of the outstanding amount Roughly 20% (-10% from last month) of loan amount outstanding. Interesting that they returned 86% of the loan amount. So probably the 6% is coming from the provision fund money. Stats for December www.growthstreet.co.uk/statistics.htmlTotal Money on loan = £1,310,400 (~ -2.15m from last month) Total Number of borrowers = 26 (-9 from last month) Expected default rate = 23.76% of the outstanding amount which equates to around 311k Roughly 7.62% of loan amount outstanding. The recovery is great so far and looks promising.I am expecting we will get atleast 96% back, maybe more. What do you think guys?
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Post by Badly Drawn Stickman on Dec 4, 2020 20:36:33 GMT
The recovery is great so far and looks promising.I am expecting we will get atleast 96% back, maybe more. What do you think guys? Certainly better than i had anticipated to date, but very much a case of where you started from as to where you end up I suspect. I would very much hope to break even at worst from my current position, clearly not the original plan but probably a great deal better (and a lot quicker) than some of my other platforms. So yes looking ok. Hopefully nobody ending up with a big loss.
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Post by df on Dec 4, 2020 21:28:15 GMT
The recovery is great so far and looks promising.I am expecting we will get atleast 96% back, maybe more. What do you think guys? Certainly better than i had anticipated to date, but very much a case of where you started from as to where you end up I suspect. I would very much hope to break even at worst from my current position, clearly not the original plan but probably a great deal better (and a lot quicker) than some of my other platforms. So yes looking ok. Hopefully nobody ending up with a big loss. I agree, even for those who jumped in last minute the loss won't be as catastrophic as we expect from Col, for example. I've joined in April 2017, earned some interest and a number of bonuses, so hopefully will break even or better.
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Post by David B on Dec 5, 2020 17:25:59 GMT
From those figures what might be the expected next pay out be roughly?
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Post by bhaviks on Dec 6, 2020 8:35:03 GMT
From those figures what might be the expected next pay out be roughly? My expectation is another payout of 9-10% by end of year or early jan.
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