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Post by overthehill on Apr 27, 2021 11:40:19 GMT
The statistics show 2 late loans > 6 months still unpaid. I checked the last three on the main page and I reckon they are all late by more than 6 months, I just stopped there. Does anybody have more than '2 late loans > 6 months'.
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littleoldlady
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Post by littleoldlady on Apr 27, 2021 11:56:50 GMT
I have not checked but CP have a history of extending loans and are sometimes tardy in updating the web site. However so far there have been no defaults and their loan extensions all seem to have been in the best interests of lenders.
So far.
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Post by overthehill on Apr 27, 2021 12:34:49 GMT
I'm interested in the loans that they haven't 1) extended with penalty interest applied after original maturity date or 2) refinanced with the option to rollover or exit.
There are 2 oustanding defaults > 6 months according to their statistics and maybe more. These are loans which don't fall into the above two categories and don't fit the qualifying criteria presumably.
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Post by overthehill on May 17, 2021 14:08:38 GMT
For the first time I checked I was getting the penalty interest for a late loan, not that I don't trust them but genuine mistakes are common. I should say I got an amount which looked right. To work it out exactly you need to have a copy of the original loan end date (column now added to spreadsheet) as it gets updated to the new end date at some point before the loan is repaid. I had to check back at the email notification to get the original end date.
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littleoldlady
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Post by littleoldlady on May 17, 2021 21:45:04 GMT
It's a bit of a mystery why CP are not more transparent, as so far as can be judged they have a record to be proud of. Between us on here I imagine we must own all the loans so if there was a rotten apple in the barrel someone would have commented on it. I would recommend that they allow access to all loans and that the updates are posted on each loan so that a history can be seen. However they show no interest in doing this and their loans fill quickly so I suppose there is no incentive to do so.
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Post by multiaccountmanager on Jun 7, 2021 11:18:43 GMT
It looks as if CP are forcing a sale on the former ***** bank asset to recover the loan. It dates from Autumn 2018 and as far as I can see it was for 18 months and rolled over a year ago with no option to withdraw.
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littleoldlady
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Post by littleoldlady on Jun 7, 2021 12:39:50 GMT
It looks as if CP are forcing a sale on the former ***** bank asset to recover the loan. It dates from Autumn 2018 and as far as I can see it was for 18 months and rolled over a year ago with no option to withdraw. Is that loan the 'rotten apple' that I referred to above?
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Post by multiaccountmanager on Jun 7, 2021 14:03:01 GMT
It looks as if CP are forcing a sale on the former ***** bank asset to recover the loan. It dates from Autumn 2018 and as far as I can see it was for 18 months and rolled over a year ago with no option to withdraw. Is that loan the 'rotten apple' that I referred to above? I don't know which one you mean. The former *** bank loan was rolled over and due to repay 2nd April 2021.
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littleoldlady
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Post by littleoldlady on Jun 8, 2021 9:07:35 GMT
Is that loan the 'rotten apple' that I referred to above? I don't know which one you mean. The former *** bank loan was rolled over and due to repay 2nd April 2021. This was a hypothetical question about a hypothetical apple. Perhaps I should have prefaced it with "I wonder if ..."
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Post by overthehill on Dec 3, 2021 16:47:04 GMT
One of my late loans, Hastings, repaid today. That just leaves me with one loan > 6 months on penalty interest, Bristol, can't recall the last update.
I'm not in any other late loans by their technical definition of a default.
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littleoldlady
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Post by littleoldlady on Dec 3, 2021 17:16:53 GMT
One of my late loans, Hastings, repaid today. That just leaves me with one loan > 6 months on penalty interest, Bristol, can't recall the last update.
I'm not in any other late loans by their technical definition of a default.
9 months late - but hey, better late than never, as seen on other platforms. I am down to 4 late loans plus one which is due next week. I don't recall seeing an update on that one.
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Post by Ace on Dec 3, 2021 18:03:49 GMT
I see that the platform's late loan stats were updated today for the first time in ages.
The total number of loans that are/have been >180 days late has increased from 10 to 15. The number of these that have now repaid has increased from 7 to 8.
It seems to me that these stats are not being kept up to date (unless it's a pure coincidence that 5 more loans went late today, which seems unlikely). This compounded with the lack of responses to emails, tardy updates to late loans, late payment of retained interest, and lack of a fix to the outstanding payments list, suggests to me that the platform is rather understaffed.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Dec 3, 2021 20:15:53 GMT
I see that the platform's late loan stats were updated today for the first time in ages. The total number of loans that are/have been >180 days late has increased from 10 to 15. The number of these that have now repaid has increased from 7 to 8. It seems to me that these stats are not being kept up to date (unless it's a pure coincidence that 5 more loans went late today, which seems unlikely). This compounded with the lack of responses to emails, tardy updates to late loans, late payment of retained interest, and lack of a fix to the outstanding payments list, suggests to me that the platform is rather understaffed. Social media updates suggest abundant jollies out and about a successful funded projects. I thought it was just mike, maybe its all / more ?
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Post by overthehill on Dec 3, 2021 20:59:13 GMT
I see that the platform's late loan stats were updated today for the first time in ages. The total number of loans that are/have been >180 days late has increased from 10 to 15. The number of these that have now repaid has increased from 7 to 8. It seems to me that these stats are not being kept up to date (unless it's a pure coincidence that 5 more loans went late today, which seems unlikely). This compounded with the lack of responses to emails, tardy updates to late loans, late payment of retained interest, and lack of a fix to the outstanding payments list, suggests to me that the platform is rather understaffed. Social media updates suggest abundant jollies out and about a successful funded projects. I thought it was just mike, maybe its all / more ?
Que ?
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
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Post by mcfc on May 26, 2022 19:15:55 GMT
I currently have approximately 30% of my total funds invested reported as being “due”… in other words.. Late. Is this other investors experience and should we be concerned?
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