michaelc
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Post by michaelc on Jul 4, 2022 13:56:22 GMT
A/ Sorry and I meant 9 posts in this thread. B/ Frankly, as repetitive as stating how great it is each time a new loan gets repaid ? Maybe....but certainly not as frequent.C/ Yes I must just be that thick mustn't I ? Are you currently invested or do you prefer not to say ? There have been an awful lot more normal loans repaid, the only ones I have mentioned are late loans (actually very late loans of mine) that have fully repaid, since this is a thread about Somo's record, these are important in showing that good recoveries are taking place regularly. Probably of no interest to you now. That's fair enough. I take back my "yawn" comments or whatever they were. As an investor for many years and now recentlyish out with a possible view to going back in, I certainly reserve the right to participate in these forums and specifically on this board without fear of being too negative. Its a shame we investors continue to argue among ourselves instead of being a being a broadly united voice in keeping the platforms in check.
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Greenwood2
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Post by Greenwood2 on Jul 4, 2022 14:08:40 GMT
There have been an awful lot more normal loans repaid, the only ones I have mentioned are late loans (actually very late loans of mine) that have fully repaid, since this is a thread about Somo's record, these are important in showing that good recoveries are taking place regularly. Probably of no interest to you now. That's fair enough. I take back my "yawn" comments or whatever they were. As an investor for many years and now recentlyish out with a possible view to going back in, I certainly reserve the right to participate in these forums and specifically on this board without fear of being too negative. Its a shame we investors continue to argue among ourselves instead of being a being a broadly united voice in keeping the platforms in check. Because we don't necessarily agree. And if we all did agree it would be a pretty dull forum with plenty of yawns.
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SteveT
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Post by SteveT on Sept 28, 2022 8:02:40 GMT
Another successful long-term default recovered in full this morning (C*ton Extension, 1372). All capital plus 3 years of rolled interest (totalling to almost 40% of the capital)!
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Post by multiaccountmanager on Oct 6, 2022 8:05:11 GMT
Another long term default finalised this morning. The capital was repaid a while ago but the outstanding rolled interest is effectively an interest free loan as there is no interest on overdue interest.
A settlement was reached and paid today.
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billt
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Post by billt on Oct 6, 2022 10:51:08 GMT
Out of eleven loans, Seven loans in long term default, getting quite anxious,
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Post by multiaccountmanager on Oct 6, 2022 11:01:04 GMT
Since I started with BC/Somo, 21 of my loans have defaulted. Currently 3 remain in default. I am comfortable with the recovery record to date.
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michaelc
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Post by michaelc on Oct 6, 2022 16:19:46 GMT
Out of eleven loans, Seven loans in long term default, getting quite anxious, I wouldn't be overly anxious as its quite common both for the platform and the industry. Equally I wouldn't put all my eggs into one basket and I would take with a pinch of salt all the cheerleading even though the platform does to date have a very good record of recovery.
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benaj
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Post by benaj on Nov 30, 2022 15:11:37 GMT
I took a quick look at BC today. Anyone know why their stats were last updated in July 2018? Doesn't give me much confidence. Can someone verify their stats? My only loan with them was repaid but not interest in full. The impressive record of 100% of loans where full capital and all interest means what exactly?
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Post by Ace on Nov 30, 2022 15:17:34 GMT
I took a quick look at BC today. Anyone know why their stats were last updated in July 2018? Doesn't give me much confidence. Can someone verify their stats? My only loan with them was repaid but not interest in full. The impressive record of 100% of loans where full capital and all interest means what exactly? Stats have been updated to 1/5/22. They state zero capital losses. 99.7% of interest paid.
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benaj
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Post by benaj on Nov 30, 2022 15:22:48 GMT
Ace, so numbers in Arrears and Repossessions* by year not accurate or have I misunderstood them if there are 3 loans not received full interest?
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Post by Ace on Nov 30, 2022 15:31:51 GMT
Ace , so numbers in Arrears and Repossessions* by year not accurate or have I misunderstood them if there are 3 loans not received full interest? Sorry benaj, I don't know the answer. One possibility is that those figures are rounded to the nearest full percent. Probably best to ask SoMo directly.
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Greenwood2
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Post by Greenwood2 on Nov 30, 2022 16:42:33 GMT
Ace , so numbers in Arrears and Repossessions* by year not accurate or have I misunderstood them if there are 3 loans not received full interest? Are they still pursuing the three loans with outstanding interest? They were going after one valuer to recover the rest on one loan I seem to remember. I haven't had any that haven't repaid in full with full interest. But I have one that may break the run!
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dh1
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Post by dh1 on Jan 1, 2023 10:30:16 GMT
First class effort by SoMo - crediting interest on New Year's Day! Happy 2023 to SoMo and everyone else, of course.
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dh1
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Post by dh1 on Jan 1, 2023 13:09:42 GMT
Happily, the interest withdrawal has been confirmed by SoMo and it has even managed to wake my Bank up from its usual Bank Holiday torpor - the money has arrived. Clearly we need more New Year's Days.... Brilliant work, SoMo.
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benaj
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Post by benaj on Feb 7, 2023 13:27:35 GMT
Well, it's still pretty impressive that only 4 loans not received full interest after email received today.
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