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Post by brightspark on Aug 17, 2018 14:06:19 GMT
Are you advising FS accordingly - bit pointless us all doing it?
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archie
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Post by archie on Aug 17, 2018 14:12:21 GMT
Are you advising FS accordingly - bit pointless us all doing it? Yes, just emailed them.
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Monetus
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Post by Monetus on Aug 17, 2018 15:51:40 GMT
Lost a couple of grand in this 2nd loan - 100% loss.
Between this, Wind Turbine, Whitehaven and Power Boat my chances of getting out of FS without a considerable overall loss are very slim indeed...
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archie
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Post by archie on Aug 17, 2018 16:58:05 GMT
They have now fixed the tax statements for these repayments.
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kermie
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Post by kermie on Aug 17, 2018 17:54:10 GMT
For the second Kn***sb****** loan (and hence lower ranking) a 100% loss had been looking likely since about Feb 2017 (according to my notes). So today is more a matter of closure than surprise or rage for me. Perhaps I would be less dispassionate if I had a significant amount in this one.
FWIW I have significant sums in Powerboats, Whitehaven and others, so I am keeping my powder dry. And for love of God don't mention Collateral to me; that is truly painful and is likely to wipe out a year or two of overall P2P interest.
The risk of a serious loss on a second charge is *hugely* greater than on a first charge. I think that's easy to state and politely acknowledge, and I admit I didn't quite appreciate just how utterly *massive* the difference in recovery can be when I was a keen young P2P-er a few years ago.
On MT, there's a similar salutary story (I'm also stung there - BPF/Birkenhead) whereby the 2nd ranking loan (tranche B) looks to be getting wiped out totally, with about 75% recovery for the first ranking loan (tranche A).
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7d7
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Post by 7d7 on Aug 17, 2018 20:46:59 GMT
Interestingly, the LTV for the first loan is 70% as the charging order of the borrower's wife ranks ahead. Notwithstanding, the LTV is 63% for the second loan with the charging order of the wife ranking behind.
With an LTV of 63%, the FS managed loan still resulted in a 100% loss. Once bitten, twice shy.
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stevio
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Post by stevio on Aug 18, 2018 11:03:49 GMT
Trying to work out what is what here with my account pages
When I search and look up these loans in the past loans section, open one, the amount of loan seems to match what is stated as repaid
Then I look at my investments and the amount of investment matches the amount under repaid
But when I go to my statement, none of the figures repaid match any of the other figures
So I looked on the Tax Statement to see if any amounts were listed for these loans, but nothing there
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archie
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Post by archie on Aug 18, 2018 11:07:17 GMT
Trying to work out what is what here with my account pages When I search and look up these loans in the past loans section, open one, the amount of loan seems to match what is stated as repaid Then I look at my investments and the amount of investment matches the amount under repaid But when I go to my statement, none of the figures repaid match any of the other figures So I looked on the Tax Statement to see if any amounts were listed for these loans, but nothing there My tax statement 18/19 shows 1861254173A and 1422136493A under capital recovered from defaulted loans.
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stevio
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Post by stevio on Aug 18, 2018 13:55:40 GMT
Trying to work out what is what here with my account pages When I search and look up these loans in the past loans section, open one, the amount of loan seems to match what is stated as repaid Then I look at my investments and the amount of investment matches the amount under repaid But when I go to my statement, none of the figures repaid match any of the other figures So I looked on the Tax Statement to see if any amounts were listed for these loans, but nothing there My tax statement 18/19 shows 1861254173A and 1422136493A under capital recovered from defaulted loans. Thanks, so does it not show correctly in the loan? So if you didnt record what you had previously invested, there seems to be no way of working out what the loss was?
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archie
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Post by archie on Aug 18, 2018 14:16:00 GMT
My tax statement 18/19 shows 1861254173A and 1422136493A under capital recovered from defaulted loans. Thanks, so does it not show correctly in the loan? So if you didnt record what you had previously invested, there seems to be no way of working out what the loss was? Look at the 16/17 tax statement, capital losses from defaulted loans.
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r1200gs
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Post by r1200gs on Aug 18, 2018 16:07:42 GMT
I have an email saying that I was in the second loan, 100 percent loss. Except I can't seem to find the loan and have no idea how much I had in in it. Help, anyone?
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rogerthat
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Post by rogerthat on Aug 18, 2018 16:32:08 GMT
I have an email saying that I was in the second loan, 100 percent loss. Except I can't seem to find the loan and have no idea how much I had in in it. Help, anyone? Wont it be in your history..either Main or ISA ?..or..isn't there a link at bottom of email to 'view' ?
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archie
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Post by archie on Aug 18, 2018 17:01:40 GMT
I have an email saying that I was in the second loan, 100 percent loss. Except I can't seem to find the loan and have no idea how much I had in in it. Help, anyone? Look at the 16/17 tax statement, capital losses from defaulted loans. Expand the screen view by clicking the '+'. It will list every tranche you're in. Look at the 18/19 tax statement, capital recovered from defaulted loans (click '+') to see if you have had anything recovered. Edit : Any loan part listed in 16/17 that doesn't still show under 'My investments' (or on the 18/19 recoveries) is 100% loss (e.g. 3867743062).
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r1200gs
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Post by r1200gs on Aug 18, 2018 17:10:40 GMT
Ok, thanks. I'll try that when I get back, no access on phone.
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r1200gs
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Post by r1200gs on Aug 19, 2018 10:22:08 GMT
Found it, I was looking in the wrong account. Fortunately this was £50 so a cheap lesson, not that I needed that particular lesson any more.
My first and hopefully only 100 percent loss, well done FS.
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