romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Apr 25, 2018 15:01:12 GMT
I have 3 loans overdue. A couple of months ago the 2 oldest of these were being shown as defaulted on the platform ( final payments due August and October last year). My first tax statement showed one of these as defaulted but not the other. The replacement statement today gives zero defaulted. On logging in the status has been changed to either overdue or overdue - passed to debt collection.
Seems to imply that even 7 months overdue they haven't given up hope... can't say I'm very optimistic though...
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Apr 1, 2018 23:57:14 GMT
Unless somethings changed recently up to 1 million is protected by FSCS scheme for up to 6 months when you have a temporary high balence in certain circumstances. I was certainly told by my bank that selling house and temporarily having v high balence for a couple of months was covered when in that position a couple of years ago. Look at Fscs website to confirm. Saves having to split up into lots of different 85k bits. Alternatively I seem to recall that some NS&I accounts are guaranteed beyond the 85k??? Not that any of these will give you an inflation beating rate of interest but would be safe...
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Mar 26, 2018 11:06:00 GMT
I've been in this one from early on, so with 90% recovery I reckon I'll make about £50 - very roughly about the same interest as if I'd had it sat in a conventional savings account ( but of course much more excitement this way !!)
MT's decision to not draw things out longer seems entirely reasonable to me
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Feb 28, 2018 22:53:04 GMT
Congratulation to whoever the observant person was who spotted the FCA registration had disappeared from the footer. Take a bow you win the prize!
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Feb 8, 2018 17:59:13 GMT
I did like in the email " investments in wine and other illiquid investments". I'd thought wine was a very liquid investment!! Must go and open a bottle or 2 of my investments...
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Feb 7, 2018 17:07:05 GMT
It's worth adding that since September 2017, we switched all longer term loans to amortising products with 2 or 3 monthly payments. This reduces the risk, at least from complete capital loss, as smaller payments are made. It's also more affordable to the customer and therefore reduces the product risk. Kevin. I'll maybe watch the statistics and consider spending another half a percent of my P2P money in a few months time!
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Feb 2, 2018 14:57:10 GMT
As a lender I appreciate it's not practical to email the lender each time something happens or to give anything that might be personal details of the borrower. However given that it's 1 to 1 lending it's not as though 500 lenders have to be written to to say you have 50p in an overdue loan etc I would have thought there could be automated emails at the following stages - When a payment is overdue by more than 5 days - basically acknowledging the lateness; saying the borrower has been spoken to and either a payment plan has been agreed OR that the following strategy will be followed ( basically as per Kevins post)
- When a payment is , say 30 or 60 days, perhaps both, overdue a further email, probably not saying much more effectively than we're still chasing the borrower and following the process
- When the loan is marked as defaulted a final email noting this - I'm assuming that once marked as defaulted no further active attempts are made to recover.
Yes I'd know they were standardised emails but at least it would make me feel the platform was still chasing things.
Of the 3 loans that I have status defaulted or overdue by more than 30 days I've had no communication from TMP as to what was happening though I did get a reply when I emailed them.
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Feb 2, 2018 14:26:57 GMT
Of the 3 loans I had overdue mid-November 2 are now marked as defaulted and the third is late by over 30 days, with neither of the interim payments having been made.
so looking like a total loss ( oh well not quite I've got a fiver to withdraw sometime)
I still like the concept of the platform but hasn't worked out for me!
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Dec 29, 2017 14:24:09 GMT
I can't see GBBA 2 using chrome either
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Dec 6, 2017 17:28:26 GMT
There seems to be an update now saying payment expected on or before the 14th Dec
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Dec 3, 2017 17:18:23 GMT
My percentages
Rate setter 18 steady may increase a bit
zopa 1 decreasing
Lendy 7 decreasing
MoneyThing 19 steady
Assetz capital 22 steady, aim drift down to 20%
Collateral 21 steady, aim drift down to 20%
BondMAson 4 steady
Ablrate 2 increasing likely to add old ISA
The Money Platform 1 likely losses probable leave
Unbolted 3 increasing
Abundance ISA 3 steady
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Nov 22, 2017 13:12:25 GMT
I only have £3.58 in the last one so not waiting with quite such bated breath!! Coll's system seems to be working well at the moment
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Nov 22, 2017 8:17:44 GMT
Fine for me on mobile with low signal
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Nov 16, 2017 11:36:37 GMT
These figures for the UK don't look such a clear trend - 2016, 2013 and 2012 all worse than 2017 (even when extrapolate for whole year) in terms of numbers of employees www.retailresearch.org/whosegonebust.php
|
|
romy
Member of DD Central
Posts: 78
Likes: 41
|
Post by romy on Nov 12, 2017 17:10:18 GMT
For what it's worth my stats don't look great!
9 loans over 6 months
6 paid back early Average approx.11 days
3 late average 42 days ( range 10 to 76)
Definitely looking out of pocket - any of the 3 overdue ones not repaying would wipe out all interest received.
|
|