muh3
Posts: 52 
Likes: 13
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Post by muh3 on Feb 2, 2017 11:14:32 GMT
Hello all,
I'm quite new to P2P and lending in general.
Just something I like to ask about the new load on LC P........ L... (UK) LIMITED
I'm I right in saying:
The creditsafe score just moved from high risk to low moderate.
The company made a loss last year which can happen but is a bad indicator.
The net worth of the company is negative and the tendency is that it is getting worse. (The company is insolvent)
I like to be diverse but would it be right to say not to lend to this loan or are there circumstances I could or should lend?
Thanks.
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kaya
Member of DD Central
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Post by kaya on Feb 2, 2017 17:03:03 GMT
Looks like a risky loan to me. Is it worth a 12%+ return? (minus fees!). There are probably safer asset-backed alternatives elsewhere (or better SME loans at FC). Botttom line is, unsecured SME lending is risky, and on this platform there is the added factor of it being perhaps difficult to sell later on. All 3 new loans look 'interesting' - that is part of the attraction for us lenders, but spirits  can become dampened after a fall or two. The distillery loan looks more suitable as an equity raise, and as for the other loan, watch your step...It could be the safest, but will probably be oversubscribed and thus not worth the rate achievable. Happy lending! |
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adrianc
Member of DD Central
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Post by adrianc on Feb 2, 2017 18:21:52 GMT
Hello all, I'm quite new to P2P and lending in general. Just something I like to ask about the new load on LC P........ L... (UK) LIMITED I'm I right in saying: The creditsafe score just moved from high risk to low moderate. The company made a loss last year which can happen but is a bad indicator. The net worth of the company is negative and the tendency is that it is getting worse. (The company is insolvent) I like to be diverse but would it be right to say not to lend to this loan or are there circumstances I could or should lend? We each have to make our own minds up, of course, and be comfortable with our own decisions... But all I will say is that there are umpty-seven red lights flashing on those details for me. And that's without taking the platform itself into account. Buy my last remaining parts instead. Please?
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muh3
Posts: 52
Likes: 13
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Post by muh3 on Feb 3, 2017 8:28:36 GMT
I would love to but with the secondary market this will not be possible to buy just yours.
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pom
Member of DD Central
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Post by pom on Feb 3, 2017 9:05:43 GMT
True - but there are plenty others of us who will be very happy if you accidentally buy ours whilst trying to buy adrianc 's  |
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annie
Posts: 45
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Post by annie on Feb 3, 2017 15:50:06 GMT
I'm maybe not as jaded as some others - only one doubtful loan so far, involving a retired copper! However, I would encourage you to use the ability to question owners if you need more details. Nice feature on this site. I tend to get excited at prospect of new loans before going for a coffee and having a think. I'd rather miss out than feel pushed to make a fast bid. And rates of course are important.
Looking at new offerings, I certainly don't expect the directors to repay their own (large) loans before repaying me.
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ablender
Member of DD Central
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Post by ablender on Feb 3, 2017 17:47:18 GMT
Alternatively, I can tell you the five loans I am stuck with and wipe them out. In that way you will definitely buy my part.
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muh3
Posts: 52
Likes: 13
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Post by muh3 on Feb 7, 2017 16:54:12 GMT
Alternatively, I can tell you the five loans I am stuck with and wipe them out. In that way you will definitely buy my part. Yeah and now you tell me one of them is T........I LTD  I don't think I have the needed funds to do this anyway, even if i would, I would probably look elsewhere to invest them.
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ablender
Member of DD Central
Posts: 2,204
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Post by ablender on Feb 7, 2017 17:00:05 GMT
Alternatively, I can tell you the five loans I am stuck with and wipe them out. In that way you will definitely buy my part. Yeah and now you tell me one of them is T........I LTD I don't think I have the needed funds to do this anyway, even if i would, I would probably look elsewhere to invest them. Not really, but it would be helpful if someone rid me of GH****
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TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
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Post by TheDriver on Feb 8, 2017 7:06:49 GMT
Not really, but it would be helpful if someone rid me of GH**** At the current turnover that might take a while! I sold one part of it in November, had another nibble late December but nothing since so it's still on my disposal list. Interestingly, that exceeds the default 30 day limit specified in Ts & Cs for a sale listing - guess LC have decide the glacial turnover of the SM - together with the exit stampede (more a gentle amble!) - means they'd be forever irritating sellers even more by cancelling listings. Whilst checking that, I stumbled across the fact that the Ts & Cs themselves were updated on 13 Jan - was anyone aware of that? 😕. I would have thought that was a fact worthy of notification! 😈. Although what's changed isn't apparent as there isn't the usual sidebar indication of updated sections ðŸ˜
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can become dampened after a fall or two. The distillery loan looks more suitable as an equity raise, and as for the other loan, watch your step...It could be the safest, but will probably be oversubscribed and thus not worth the rate achievable.
