scooter
Member of DD Central
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Post by scooter on Dec 8, 2023 15:18:45 GMT
Reopen to new lending in new year?
Personally I think they will sell the debts and run the loan book down.
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benaj
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Post by benaj on Dec 8, 2023 15:33:41 GMT
I wish they can carry on retail lending and return to profit as 2021 and 2020. At least for now, my lending with Lending Crowd is in the profit zone.
With the FCA latest rule, it's not as easy to promote retail P2P lending without cashback incentive.
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Post by df on Dec 8, 2023 22:19:00 GMT
I wish they can carry on retail lending and return to profit as 2021 and 2020. At least for now, my lending with Lending Crowd is in the profit zone. With the FCA latest rule, it's not as easy to promote retail P2P lending without cashback incentive. I'm sceptical that they will, but if they resume at a similar projected return I will resume investing. LC was a very positive p2p experience for me. My XIRR is 8.24% (I didn't participate in any bonus schemes and used manual account only)) and it's been like this for the last couple of years, started investing on 13th Feb 2017. Repayments are coming in, I do weekly withdrawals, remaining investment/profit ratio is 12/88, so in worst case scenario if all repayments cease tomorrow my final XIRR will be 7.44%.
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rscal
Posts: 917
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Post by rscal on Dec 28, 2023 12:28:07 GMT
As you may be aware LC presents recovery/loss balances on annual statements, and I have been relying on the 'lower' (netted) figure for my income positions. I share the wholly positive experiences as other poster but wanted to clarify this point:
If my investments do reach zero and a 'bad debt' balance then remains, will any subsequent (say annual) recovered amounts need to be treat as income (I think the answer is 'yes' but I am just picking other people's brains here)
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