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Post by justdabbling on Nov 24, 2018 16:31:49 GMT
I feel somewhat dissatisfied as I would not have lent the money at 2%. However, I am going to vote for the return of the capital and 2% because I do not want to be involved in another default situation and I did sell some of my loan at a premium to the total return will be more than 2%. I feel a bit sorry for the purchaser of my loan part though. I will certainly bear this experience in mind the considering future offers.
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Post by justdabbling on Nov 23, 2018 10:56:19 GMT
I agree that attempting to force Lendy into administration would not help those of us hoping to receive some repayments of existing loans.
However, this discussion has prompted me to download all the information from the website that I might need in future should the website be suddenly unavailable. Just a precaution.
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Post by justdabbling on Oct 18, 2018 16:19:30 GMT
This is a good question. I started in Feb 2016 and have been running down all property loans on any platforms since April 2017. I have 10 loans left, two of which can, in theory still be put on sale. One is still paying interest. I need the loans that cannot be put on sale to pay back 36% of my investment in them in order for me to break even taking into account the interest received.
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Post by justdabbling on Oct 6, 2018 13:36:29 GMT
Thanks Mason for your thoughts and for the clarification of the rules regarding regarding ‘interest’ which was not withdrawn.
As you suggest, there is no hurry to finalise the tax return and the administrators may enlighten us before the tax return deadline, and moneys on account could even be paid one day. I just usually do my return this time of year as I have a seasonal lull, and it leads to a tax rebate, but I could put in all the data and then wait a while before pressing ‘submit’
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Post by justdabbling on Oct 6, 2018 8:36:06 GMT
Time to tackle the self-assessment return.... At the risk of being shot down for stupidity can I ask whether we are sure that the ‘interest’ that was never drawn down and just assigned to different loans on Collateral is ‘income’ at all? I have been looking for a definition of ‘income’ for income tax purposes but I cannot find anything helpful in this situation. If the operation was not authorised then does their assignment of ‘interest’ to accounts they should not have been running count as income? If the interest was not withdrawn and is now unobtainable is this ‘income’ as I have derived no benefit?
If the illegal status of Collateral’s p2p operation means we cannot claim relief for the default, then it raises the question as to whether their ‘interest’ was also interest at all and if not withdrawn, whether it can be called income?
Unless I am advised differently I may well omit Collateral’s ‘interest’ from my tax return and just add a note saying I had a small amount in an account now found to be non-compliant and under investigation by the FCA and that I will update if I ever receive any ‘income’ As always I am very happy to receive enlightenment form those who know better!
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Post by justdabbling on Sept 27, 2018 11:20:33 GMT
Deleted comment to maintain confidentiality
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Post by justdabbling on Sept 8, 2018 17:39:51 GMT
According to optymystic in July the company CO2*** was formerly, implying not currently, a government funded sustainability company. This is nevertheless an interesting possible explanation for the whole debacle.
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Post by justdabbling on Aug 29, 2018 14:35:59 GMT
Did you all receive 2 emails within a short time today (TUESDAY)? The second one is not a direct repeat send. It's worded slightly differently and mentions the next payment due. It's worth reading the second one. I nearly didn't, as I assumed it was a repeat. I received two emails, one for the CHP and one for the same company but different technology. We had previously received emails explaining the knock on effects on the other companies in this group.
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Post by justdabbling on Jul 9, 2018 8:50:17 GMT
It’s good to learn that you’ll be attending. It’s impossible for me as I am working abroad this week so now I have a chance of finding out how it goes and maybe you’ll be able to hint at whether there is information that cannot be put in official communications. I wonder who is funding the legal action/advice and how much can be afforded, or maybe a ‘No win, no fee’ case?
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Post by justdabbling on Mar 1, 2018 11:35:12 GMT
The timing at the end of the tax year is unfortunate as there must be many investors like myself who withdraw cash from P2P at this time of the year to put in pensions and flexible ISAs for tax purposes. My little bits won't alarm anyone but there could be the appearance of a run on other platforms as Collateral investors try to access their funds from other platforms for tax reasons.
It will probably be a good time for those wishing to pick up investments.
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FundingSecure (FS) in Administration
Overdue loans
Dec 21, 2017 10:57:32 GMT
Post by justdabbling on Dec 21, 2017 10:57:32 GMT
Just noticed property in B****H***** has been turned into a renewal!
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FundingSecure (FS) in Administration
Overdue loans
Dec 21, 2017 10:55:45 GMT
Post by justdabbling on Dec 21, 2017 10:55:45 GMT
1357261974 Property in B*****H**** just paid back capital and over a year's interest yesterday. Nice surprise and no fanfare from FS, not even an email to investors!
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General P2x Discussion
seasonality
Nov 22, 2017 18:03:44 GMT
Post by justdabbling on Nov 22, 2017 18:03:44 GMT
I recall comments in the run up to the end of the tax year that some lenders were withdrawing p2p cash to top up flexible cash isas so as to ensure they retained the tax shelter. The same might apply to pension contributions.
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Post by justdabbling on Nov 14, 2017 15:18:06 GMT
From experience with a daughter who has progressed from student to young worker the students have opted for the shiny new student accommodation and the old student landlords have had to spend money renovating property so that it is suitable for other renters. The rents have become more competitive. This may not be a good time to go in for buy to let in a university town.
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Post by justdabbling on Nov 3, 2017 10:14:55 GMT
Email just received says that there is a 3 month extension to this loan
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