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Post by preacherman100 on Jun 6, 2017 17:04:05 GMT
Hi All
New to this forum so please be gentle.
I joined AC a few weeks ago and all seems well but now logging on I see quite few loans showing as trading suspended, I do not have any money involved in these loans but should I be unduly worried seeing them?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 7, 2017 0:29:39 GMT
Hi All New to this forum so please be gentle. I joined AC a few weeks ago and all seems well but now logging on I see quite few loans showing as trading suspended, I do not have any money involved in these loans but should I be unduly worried seeing them? Loans can be suspended for a number of reasons and you would need to read the individual loans activity thread to find out why this is the case. Some of these loans are temporary suspensions to allow for additional tranches to drawdown or for a lender vote to take place relating to an extension, partial repayment or restructuring of the loan terms and in most cases will resume trading once the vote has occurred (assuming the outcome is positive) However, a good number of the loans are permanently suspended as they are in formal default and in recovery... some of these will probably make a full recovery, other will result in losses. Defaults and losses are part of the risk of P2P and if you are overly worried by them then you should consider whether the MLIA or AC are right for you. AC so far have a pretty good record of recovering defaults but there are some legacy loans for the early days which are proving difficult ... though a number have had significant progress made recently. AC provide a detailed document on losses ... both actual and predicted which Id advise you to read. www.assetzcapital.co.uk/key-investing-information/defaults-and-losses/AC are probably one of the best platforms at communicating with lenders on loans ... and over the course of managing defaults in particular and involve lenders in the process where applicable.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jun 7, 2017 1:38:45 GMT
Hi All New to this forum so please be gentle. I joined AC a few weeks ago and all seems well but now logging on I see quite few loans showing as trading suspended, I do not have any money involved in these loans but should I be unduly worried seeing them? Trading Suspended looks serious but as il moro explains, not necessarily serious. As a new investor what you really need to focus on is "monitoring events", that's a warning of a potential problem, but trading might NOT be suspended. These aren't visible from the loan overview, you need to click on each loan individually to see this. Loan no's 79, 198, 240 are examples of loans that have monitoring events, shown by a banner at the top of the loan page. They are often loans paying default interest ( typically 3% above the original rate ). Don't get lured by the higher rate without reading the activity tab.
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