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Post by kristjan on May 23, 2017 12:33:51 GMT
What about the momo nature loan? The latest payment is overdue 20 days. Otherwise they are on schedule - ie. only the May payment is late. To get the details on business loans, please contact support@investly.co.
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Defaults
May 23, 2017 12:47:14 GMT
via mobile
Post by buttchopf23 on May 23, 2017 12:47:14 GMT
In other words the next payment is due in 11 days...
In my opinion investly seems to care less and less about their (old) loan portfolio and concentrates on invoices. This is perfectly fine and makes sense - let's face it, you would be out of business if you had not redirected into invoices. But at the end of the day investly is responsible for settlement of the loan portfolio. And this is the criticism from my side, I doubt that you are active enough in this matter. To me it seems as you send an update each month, and that's it. With newer late loans like momo nature (which paid perfectly until 20 days ago) I had expected to be updated quickly.
I might be wrong, just m gut feeling.
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Post by kristjan on May 23, 2017 13:14:40 GMT
In other words the next payment is due in 11 days... In my opinion investly seems to care less and less about their (old) loan portfolio and concentrates on invoices. This is perfectly fine and makes sense - let's face it, you would be out of business if you had not redirected into invoices. But at the end of the day investly is responsible for settlement of the loan portfolio. And this is the criticism from my side, I doubt that you are active enough in this matter. To me it seems as you send an update each month, and that's it. With newer late loans like momo nature (which paid perfectly until 20 days ago) I had expected to be updated quickly. I might be wrong, just m gut feeling. I'm sorry if we've made you feel this way. We keep track of all debts, loans and invoices. We are in contact with all debtors and remind them of their debts in case they are late. Reminders are an important part of any debt collection process and we take this seriously. Some loans have defaulted and we've handed these over to bailiffs where it's needed (they have more legal power to arrest accounts etc). Legal proceedings do take time, however. We are covering the legal expenses ourselves, unlike a number of other P2P platforms. The fastest way to get a response is to contact the people handling collection. I am perfectly happy to provide the data myself, but it might take a bit longer than turning to support. That's why I suggested you turn to them. Hope that's fine.
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shimself
Member of DD Central
Posts: 2,560
Likes: 1,169
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Post by shimself on Nov 13, 2017 10:47:07 GMT
Oops, taken my eye off the ball and it looks like my defaults exceed interest earned. I cannot find the credit rating for the defaulted loans (to see if tweaking my autolend is worthwhile). My dashboard is telling me I'm in profit ("Return based on paid invoices") so I think the platform has the sweet smell of Bondora about it, ie lets fool the investor. Tell me I'm wrong please kristjan
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Post by kristjan on Nov 16, 2017 8:50:10 GMT
Oops, taken my eye off the ball and it looks like my defaults exceed interest earned. I cannot find the credit rating for the defaulted loans (to see if tweaking my autolend is worthwhile). My dashboard is telling me I'm in profit ("Return based on paid invoices") so I think the platform has the sweet smell of Bondora about it, ie lets fool the investor. Tell me I'm wrong please kristjan Please note that invoices which are marked defaulted refer to invoices that are more than 120 days overdue. In these cases, the collection process is still ongoing and there is no reason to mark those as losses. After collection procedures have been finalised, the invoice can either recover fully, recover partially or be written off (a partial recovery is currently marked as written off in the portfolio, because a portion of the invoice was not recovered, refer to the collection history for more detailed information on each particular invoice). Collecting overdue debt does take time. We do our best to help the process along and ensure funds are recovered.
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shimself
Member of DD Central
Posts: 2,560
Likes: 1,169
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Post by shimself on Nov 16, 2017 12:46:24 GMT
Oops, taken my eye off the ball and it looks like my defaults exceed interest earned. I cannot find the credit rating for the defaulted loans (to see if tweaking my autolend is worthwhile). My dashboard is telling me I'm in profit ("Return based on paid invoices") so I think the platform has the sweet smell of Bondora about it, ie lets fool the investor. Tell me I'm wrong please kristjan Please note that invoices which are marked defaulted refer to invoices that are more than 120 days overdue. In these cases, the collection process is still ongoing and there is no reason to mark those as losses. After collection procedures have been finalised, the invoice can either recover fully, recover partially or be written off (a partial recovery is currently marked as written off in the portfolio, because a portion of the invoice was not recovered, refer to the collection history for more detailed information on each particular invoice). Collecting overdue debt does take time. We do our best to help the process along and ensure funds are recovered. Well if delayed loans appeared in the summary it would be more obvious. In my particular case where the delayed loans amount to practically 4 times the interest earned I certainly do have reason to worry
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Post by captainconfident on Nov 28, 2017 11:56:35 GMT
Pleased to see M****n C*****l loan complete and progress on collecting on a couple of others. Keep up the good work, Investly!
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Post by kristjan on Nov 28, 2017 12:21:50 GMT
Pleased to see M****n C*****l loan complete and progress on collecting on a couple of others. Keep up the good work, Investly! Thank you! I'll pass your kind words over to our collection people. A few updates:We're also close to resolving the UK export invoice. Most of the funds have already been recovered and we're confident we can close that case within the year. Our team and our lawyers are working to ensure the full recovery of all overdue invoices. We're also moving forward with hiring an in-house lawyer to further improve and speed up collection processes. I have started collecting feedback from investors regarding their experience, expecially regarding communication. I would like to get your view on the positives and negatives. I will collate the feedback, discuss it with the team and find the best solutions to implement. I'm moving forward with a few solutions already, based on feedback we've received in the last couple of weeks. I will be giving an overview of the upcoming changes as soon as we've put in place an action plan. If you have some actionable suggestions, we would be happy to hear about them. Please write to me directly on kristjan[at]investly[dot]co so that I can gather all the feedback into one place. Thank you! PS. I will be away from 30.11 until 14.12. This should give investors enough time to gather their thoughts and put them on paper. Regards, Kristjan Velbri CFO
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Post by D. Antav on Feb 8, 2018 11:14:18 GMT
My experience was horrible.
I had a big default with a crash of a company...and Im waiting yet a judicial outcome.
A risk analysis must evaluate each risk according to the probability of its occurrence.
Investly didn't it this risk analysis.
The company stole more than 150000€ from investors and search by internet is crazy that the company pass minium analysis (a baby would do better without any knowledge.)
Please, in my experience and opinion...AVOID completly this platform. They don't play fairly and the risks analysis are zero. The companies are time bombs.
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Post by kristjan on Feb 8, 2018 12:05:45 GMT
My experience was horrible. I had a big default with a crash of a company...and Im waiting yet a judicial outcome. A risk analysis must evaluate each risk according to the probability of its occurrence. Investly didn't it this risk analysis. The company stole more than 150000€ from investors and search by internet is crazy that the company pass minium analysis (a baby would do better without any knowledge.) Please, in my experience and opinion...AVOID completly this platform. They don't play fairly and the risks analysis are zero. The companies are time bombs. This comment and a reply to it was previously posted here.
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