james21
Member of DD Central
Posts: 651 
Likes: 669
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Post by james21 on Jun 16, 2017 7:21:27 GMT
I am not happy to receive another potential loss ( I assume recovery is unlikely) making 4 with a potential 2 more to fail soon, they are all of the type "expansion/working capital" with no security, average term remaining 48 months. As a newby last Sept I put in funds to autobid and all these are from that time, a few months later as my knowledge of PtoP increased I realised these kind of loans are most vulnerable to default and I sold on all of the rest that were of the same type (about 150) I now have only secured property loans with FC. I appreciate that default is a risk to lending but the lender can mitigate the risk by selecting the ones they feel are less risky. I am happier now having got rid of the 150 loan parts as I am sure there would be quite a few more in them to fail, (they sold very easily). I was caught out by FC and I hope that other newbies will read this and decide if FC is for them, and if it is, is auto bid for them
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ashtondav
Member of DD Central
Posts: 1,805
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Post by ashtondav on Jun 16, 2017 7:31:08 GMT
James, this is the Funding SECURE board. Are you talking about FC?
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ahowlin
Member of DD Central
Posts: 68
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Post by ahowlin on Jun 16, 2017 8:46:17 GMT
James, this is the Funding SECURE board. Are you talking about FC? Actually I think you will find this is the FC board! 
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SteveT
Member of DD Central
Posts: 6,873
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Post by SteveT on Jun 16, 2017 8:49:08 GMT
James, this is the Funding SECURE board. Are you talking about FC? Actually I think you will find this is the FC board! (Mod hat on) The thread has been moved from the FS board
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kaya
Member of DD Central
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Post by kaya on Jun 16, 2017 10:28:34 GMT
james21 it maybe aint so bad really. I've had over 40 defaulted loans, and never use autobid. Truth is, no-one can dodge all the dodgy ones. What matters is your overall return, and although mine is very slowly heading south, it is still holding at over 9% return, spread over hundreds of unsecured loans. Better returns than a bank! I still consider this my safest P2P investment.
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Post by pianopaul on Jun 20, 2017 17:45:43 GMT
Yes it seems to me that FC is good for diversification without picking and choosing where to put your £20 chunks. I have nearly 300 loan parts, which it would take an age to sort through. I expect a few losses from those. I have other funds in things like Money Thing and Lendy, but in those cases there are fewer loans so my chunks are bigger, so due diligence more of an issue. Horses for courses!
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