xtab
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Post by xtab on Feb 19, 2019 17:33:16 GMT
That really is good. I was a bit taken aback when I first got involved, then researched and found that all the time I spent researching and selecting my recipients didn't necessarily mean that those people is directly who my donation went to. But I'm content that my (admittedly small, compared to many others on here) donations are going to worthy causes.
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xtab
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Post by xtab on Feb 19, 2019 8:43:41 GMT
" Payback something more this year at no loss and I'll give them 3 stars " <---- A slightly loaded offer considering the circumstances. I will up that offer and will give them 5 stars (with no sarcastic comments either in my TP review!!!) if they can pay back all due or past due loans in full this year. Ditto.. Seconded ( or is that thirded?)
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xtab
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Post by xtab on Feb 19, 2019 8:39:19 GMT
It's probably already been said but I don't have the energy to check through 40+ pages to see! It is in lenders' interest to have bad reviews removed. Those reviews are likely to dissuade potential new lenders from signing up. It sounds as though many current lenders on this forum have stopped putting new money into L*y. Without a steady flow of loan money, the platform would be likely to fold. Those of us with money in COL know what an unpleasant, long road that is! So I would suggest that we should put our frustration and annoyance on one side and hope that L*y's attempts are successful.
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xtab
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Post by xtab on Jan 24, 2019 7:56:39 GMT
I too use Excel for the whole range of investments, broken into notional sections based on high to no risk categories. Then various sheets keep track of interest, performance (especially claimed % vs real returns). P2P only tracks platform totals. I did initially try and track individual loans but it soon got to be way too much work for the relative usefulness.
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xtab
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Post by xtab on Jan 23, 2019 18:33:59 GMT
Received from BDO today: "We are happy to advise that we have received responses approving the ‘Lender Resolution’ from approximately 86% of investors, in terms of value of investments. This has certainly been an encouraging response. Whilst we would expect that this translates as approval to proceed with enforcement in respect of the majority of the loans, it will of course be necessary to calculate what percentage of value this represents for each specific loan."
FYI - the required threshold as per the Collateral platform terms is that 75% of investors in a loan must agree to take enforcement action. A few other updates: - The next Creditors Committee meeting is confirmed for the 12th of March. - Good progress is being made on data recovery: "we are now at the stage where a significant majority of investors’ detailed portfolio analysis as extracted from the database reconciles with the information initially provided to us by Refresh Recovery"- BDO will shortly be uploading a note on their website informing investors that a tax statement for 2017/2018 isn't available which you may forward to HMRC when submitting your tax returns. BDO are unable to offer any specific tax advice. - Taking into account various factors, information regarding progress on recoveries will be kept to the standard reporting schedule rather than details being uploaded to the BDO website. Thanks for this update.
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xtab
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Post by xtab on Jan 23, 2019 18:25:53 GMT
I was just a little alarmed to receive an email giving me instructions on how to access this update. Fortunately it was just Lendy being Lendy. On access I was shouted at by a big Unauthorised banner and told, " Sorry, you do not have permission to access this page.".. There's a relief. That happens with every update on this loan,have you not been reading the previous updates or getting the emails ? You have to log in to your Lendy account first and then open the link in the email.
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xtab
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Post by xtab on Jan 23, 2019 13:52:40 GMT
Amen! (Heartfelt sigh). Starting with turning back to the day before COL came into being.
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xtab
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Post by xtab on Jan 23, 2019 13:47:08 GMT
Apart from the occasional unprotected, and so optional, bespoke loan, auto invest is I think the only option. I've tweaked my single loan limits many times over the time I've been with them and still have no idea just how they allocate the amounts. I'm more sanguine about the gold loans than the watches. (And I too have never understood the desirability of a Rolex, but confess to being a fellow member of the cheapskates club)
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xtab
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Post by xtab on Jan 23, 2019 13:26:01 GMT
As a heavily invested COL mug, er, investor, my heart sinks every time I get an email from any platform these days telling me there's a problem. I've never before been so twitchy about investments, and I've been at it for a lot of years, surviving many stock market Black days, etc.
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xtab
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Post by xtab on Jan 23, 2019 13:19:29 GMT
I raised the same point on the Funding Secure Whitehaven loan. It was a seemingly blatant fraud and FS were an accessory. General comments made about calling in the cops were that the cops don’t care about white collar crimes. Not to hijack the Lendy section with FS issues, but just have to say that the Whitehaven loan was a outstanding* example of a platform lending without proper DD and then blindly accepting fictional reports of the progress of work. *outstanding being the operative word in more than one sense.
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xtab
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Post by xtab on Jan 23, 2019 10:07:01 GMT
I'm fairly sure that in one of the earlier posts someone has said that the email will include the form you have to complete and return. So it should be a totally on-line activity (if it actually ever occurs).
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xtab
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Post by xtab on Jun 22, 2018 15:24:38 GMT
I want it to be itemised so that I can check if the last payment into the client has also been included. If I understand it correctly, this level of detail is what they need the IT database records for.
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xtab
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Post by xtab on Apr 25, 2018 7:48:49 GMT
Someone's bot working well today, things are selling the instant they are listed This drives me bonkers. Real people just can't get a look-in no matter how quickly you go and look at the sale. I've been gradually withdrawing from this platform as loans are repaid because of this. I had high hopes for LI but find the frustration has put me off them. It'd e nice if they introduced an Autolend feature on secondary loans, but as the secondary market sales go so quickly I don't suppose it's worth their while.
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xtab
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Post by xtab on Mar 5, 2018 18:19:21 GMT
The platform is still in the testing/development stage as yet & those of us who were early adopter are helping give feedback both via this forum & directly to hopeful help shape a better experience & iron out any significant problems before a more hard launch in the next few months. I have had a small lending position since before Xmas which started being lent out on 13th Jan & have subsequently topped up a further deposit all of which is now lent out. I have had my first round of full repayments with interest & experienced my first PF funded capital refund, all has gone quite smoothly so far & I am satisfied at the progress made (some more details on the other threads).
I only want small individual loans initially so target £100 max/interest band which leads normally to £10 allocations (some can be smaller depending on what others have already received) due to the way allocations work. Lending seems quite speedy at present, took 3 days from assignment to full allocation last week. So even if you only choose a couple of different rates & hold the remaining funds in reserve to assign later it shouldn't be long before you are fully invested. The full agreement details are available if you are interested (My analytics> loan summary >click on loan & see agreement) but tend to do what it says on the tin - usually in the range of £100-500 over 30-300+ days.
My only serious concern going forward is that the default rate may eventually prove higher than anticipated & that would put a significant challenge to the PF refund model but time will tell & we shall see by experience if the AI credit scoring algorithm, which selects borrowers is fit for purpose. Any how good luck with your experiment & you will find nsiam is always willing to engage either on here or direct via website should you have any questions or queries. Decided to give this a punt and deposited the minimum via debit card to see what's on there. I sincerely hope they do better than their deposit confirmation message of "Your payment is done. It may take up to 7 working days for us to receive the funds and we will confirm as soon as we receive it." Debit card - 7 days clearance?? I assume they're just covering themselves for a worst, worst, worse, even worse than that case scenario!
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xtab
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Post by xtab on Mar 5, 2018 15:31:44 GMT
NEGATIVE for me is every platform shows abit of investor activity which i look at to try and guage if and what amount if any to put in. i am not really very good at DD and the forums have really helped me along as it appears you can't rely on almost anything we are told these days. anyway my question is could these platforms make clear what has actually been invested and what has been put up for sale.as it stands it does'ent really mean a lot. POSITIVE for me is that long term returns from P2P are probably around 7% and you can get that in a tax free automated account on AC or FC. I partly agree - your average isn't too far off my calculations, but I wouldn't necessarily go that route because of the danger of not spreading investments widely enough across the P2P platform spectrum.
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