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Post by herrbert on Jun 6, 2019 9:57:33 GMT
I'm a bit confused how FS deals with these partial repayments.
My loan parts were split into two. One with 73% of the principal is closed, but only the principal is paid back. The rest of it is still open and interest is shown. There are supplemental loans still listed, with interest (luckily I'm not involved in these).
Now, I don't expect any interest on these in practice, but in theory: if I can expect any interest, shouldn't it be listed somewhere? Especially since my interest ranks before the supplemental loans. Right? If I cannot expect interest, why the other parts have interest listed?
Maybe it's just a programmatical or UX problem, but still...
Anyway, can we claim the interest part from the borrower or from the valuer?
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Post by herrbert on May 30, 2019 9:27:05 GMT
Apparently the buyer sent the wrong interest amount and the correct sum should be received tomorrow. I don't know if that means that the loan will repay tomorrow, or if, for some reason, the buyer is already paying interest on the loan (although the borrower is legally responsible). It is quite difficult to know the status of interest payments on the MoneyThing site and I wish they would do something about it. The ABL website is quite good in this respect. I absolutely agree. This (the status of interest payments) is the biggest problem with MoneyThing. And the thin loan book. I would consider reinvesting, if these two would be fixed.
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FundingSecure (FS) in Administration
Hall of Shame
Mar 21, 2019 9:56:34 GMT
Post by herrbert on Mar 21, 2019 9:56:34 GMT
Main 31% IFISA 19%
I would be actually very happy if I just loose the interest. Not a chance.
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Post by herrbert on Dec 20, 2018 11:17:33 GMT
Can someone answer this basic question? See below screenshot: It says I had an 'actual return' of -44% (way to go FS!). But 44% of £8.82 is not £1.65. It's per annum. This was dragged for two years, so total loss is approximately 0.44 x 1.44.
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Post by herrbert on Dec 18, 2018 11:04:32 GMT
Tim Lowe is a Cellist. Maybe they bought the reviews from the same place as Lendy. In Hungary there was a minor scandal last week, because unknown musicians had a lot of good reviews from abroad. Probably bought them.
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Post by herrbert on Dec 17, 2018 11:39:09 GMT
So 67 and 68 are in administration. 85 is restructured. But what about the others? Every week we are reassured that we will get information imminently. But then nothing happens.
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Post by herrbert on Dec 15, 2018 13:24:05 GMT
On the other hand, isn't it possible that these loans will pay back? There is a hint that they will refinance/ be sold.
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Post by herrbert on Dec 15, 2018 13:22:09 GMT
I had only 2000 pounds in front of me for DFL033 after two months, which would have gone in a matter of minutes after the recent repayment. I'm furious and frightened at the same time. Lendy's lack of communication was OK until the repayments went well or even when I could sell the loans in time. Man, I was so stupid!
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Post by herrbert on Oct 12, 2018 8:43:12 GMT
They just paid this back. It had an increased valuation of £165k-£200k due to the plans were modified to a 5 bed house. Then they paid back £75k!!! There is no documentation whatsoever uploaded. What prevents me thinking FundingSecure is a scam?
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Post by herrbert on Feb 23, 2017 15:16:51 GMT
The public version of the app is finally released on Google Play. Have a look here: Google PlayPlease help me with a five star review if you can. I still accept feature requests and suggestions as well as bug reports.
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Post by herrbert on Feb 19, 2017 13:51:13 GMT
Only a handful of loans, but they were cheaper to buy in, so I invested.
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Post by herrbert on Feb 19, 2017 13:28:04 GMT
Yes. :-$ I think it makes comparison easier, unless of course you cannot calculate it. ABL is the opposite because of that and the quarterly payments.
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Post by herrbert on Feb 19, 2017 12:48:12 GMT
I started to invest in P2P loans exactly a year ago. Here are my results and thoughts.
My strategy
I think it doesn't matter how much clever I try to be with loans to businesses. They are too risky. So I invest mostly in property (and boats and planes) and in assets sometimes. On SS and MT I sell before the end date, so I care only about rates and end dates.
You cannot compare the result rates directly because of various factors. Not enough data, accrued interest, paying frequency, Euro sites, etc.
The good
FS - 13.8% - Best platform so far. Lots of loans, good website, rates are high, risk is relatively low. I invest only in property and ships.
ABL - 10.01% - Started later and pays quarterly for some loans, so real results will be above 12%.
SS - 12.31% - The website is the easiest to handle, but missing some functionality.
MT - 12.00% - My first favourite, until I realized that there is no way to see who is in arrears, unless I export data.
Mintos - 16.57% (above 20% in GBP) - Auto invest, most of the loans are guaranteed. Some loans are very high rate (and risk).
Twino - 12.75% (19% in GBP) - Auto invest, most of the loans are guaranteed.
Collateral - 8.85% - Started a month ago, it will be above 12%. Small platform, but easy to invest.
The bad
AC - 9.5% - Too small interest for the risk, but luckily only one bad debt. I keep it for diversification, but only with a minimal investment.
FC - 3.6% - Too small interest for the risk. I got many bad debts. Maybe I was unlucky. I withdrawn what I could. With recoveries it can go above 5%.
The ugly
RebS - (-14%) - Only losses and promises. Maybe on the long run it will turn into positive with the recoveries. Avoid at all cost.
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Post by herrbert on Jan 30, 2017 10:40:34 GMT
Does this have more info than company check which has nice pretty graphs and pictures etc. Company check has more info, however: My app is free. My app is not full of ads. My app is only in Beta yet. My app is an app, not a website.
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Post by herrbert on Jan 28, 2017 17:45:02 GMT
I released Beta 3 on Google Play. There are a number of fixes and improvements and I plan to add a few more enhancements in the coming weeks. An increasing number of people started to use it, but I haven't received any bug reports or feature requests. Please help me with ideas or let me know if you have any trouble using the app. On Google Play I got two automated crash reports, where the user user can add comments. When using this, please add the company name or what you were searching for as this helps me in debugging the issue. I get a stack trace from Google, so I know where it happened, but no data, so I don't know what caused the issue.
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